|
|
Live Online Chat
Tell us what you need. All we need are the basics. It's even ok if you have less than perfect credit: we have lenders that specialize in all types of refinance loans.
See how much you could be saving. The form takes only a minute to fill out. Best of all, you are under no obligation to accept any offer.
We can find you the lowest loan from over 300 packages in our loan match database.
Reasons To Refinance
Lower your monthly payments, lock in a better interest rate or change the terms of your mortgage refinancing makes it all possible! Plus, you can get cash out if you have enough equity in your home. Refinance Now!
|
|
|
Apply Now ﺍ Refinance ﺍ Purchase ﺍ Equity ﺍ Mortgage News ﺍ Rates
A fixed rate mortgage has an interest rate and monthly payments that never change. These mortgages afford borrowers stability because they are unaffected by the ups and downs of fluctuating rates. There is no risk of a sudden rate increase making monthly payments unaffordable. Consequently, many people find that the consistent payment amounts aid them in managing their budgets. This is also a popular and practical option for people planning to stay in their homes for several years because they can end up saving money in the long run.
Fixed rate mortgages can be more difficult to qualify for than other types of loans, however. And if interest rates decrease significantly, refinancing is required to capitalize and obtain lower payments.
Shorter-term fixed rate mortgages offer significant interest savings over longer-term fixed rate mortgages, but have higher monthly payments.
Return to Top
Adjustable Rate Mortgages (ARMs) feature an interest rate that adjusts up or down at specified intervals of the mortgage term. The initial interest rates for ARMs are lower than those of fixed rate mortgages. However, after that preliminary low-rate period ends, the rate adjusts periodically usually upwards. This makes ARMs a viable choice for borrowers who do not plan to stay in their home for an extended period of time. Others choosing an ARM run a risk of suddenly being faced with unaffordable monthly payments.
ARMs are typically easier to qualify for than fixed rate loans because the starting rate and payments are lower.
A wide variety of ARMs are available, offering varying initial fixed rate periods and adjustment terms. ARMs featuring initial fixed rate periods of three, five, and seven years, with rates adjusting annually thereafter, are common. These are generally referred to as 3/1, 5/1, and 7/1.
Return to Top
Loans that are not insured by the federal government and for amounts under limits established by Fannie Mae and Freddie Mac (government-regulated private corporations) are considered conventional loans. Fannie Mae and Freddie Mac administer these loans. Currently, the conventional loan limit for single families is $333,700 in the continental United States.
Return to Top
Jumbo loan amounts exceed the conventional loan amount limit. These mortgages are funded by the private investment market.
Return to Top
FHA loans are insured, but not funded, by the Federal Housing Authority. Essentially designed for low- and middle-income borrowers and first-time borrowers, FHA loans tend to have more lenient qualifying criteria than conventional loans.
Return to Top
The Veterans Administration insures, but does not fund, loans for those with qualified military service. These loans offer more relaxed qualifying criteria and less stringent down-payment requirements than conventional loans.
Return to Top
No Documentation loans provide a convenient means of financing for people who do not wish to verify their income, are self-employed, have less-than-perfect credit, little credit, or no credit at all. These mortgages typically have slightly higher interest rates and are granted by fewer lenders.
Return to Top
Negative Amortization Mortgage
With this type of mortgage, the borrower has the option to make monthly payments that are less than the accruing interest on the loan. Consequently, if the borrower chooses to make the minimum monthly payment, the loan balance will increase by the amount of interest not paid on the loan. The upside is the borrower can choose to make the full loan payment, the minimum payment, or any amount in between. This type of loan can be practical for someone who does not have a regular, steady income.
Return to Top
A reverse mortgage is a loan against your home that you do not have to pay back as long as you live there. You can borrow up to 65% of the homes appraised value but there are certain restrictions. To qualify for a reverse mortgage, you must be at least 62 years of age and have some equity built up in your home. There are no income or credit requirements but you must occupy the home as your primary residence.
Return to Top
We work to get you the the best possible rates and terms and the lowest payment possible.
We offer some of the best mortgage & refinance tools available on the Internet
Our concept is to give consumers great customer service and highly competitive loan offers from a wholesale direct lender.
Let us help you find the best loan to suit your needs.
For a Free consultation, please fill out the simple form below and you will be contacted by one of our friendly Mortgage Loan Consultants.
No guarantee as to the accuracy of any information on this website is offered or implied. If you have questions about mortgages or real estate you should discuss them with your Attorney, Real estate agent or Mortgage Lender!
|
 |
|
Use our mortgage calculator
Enter the loan amount, rate, and how much you want to prepay each month Mortgage Tools. |
|
 |
|
 MORTGAGE CALCULATORS |
|
|
|
|
|
24/7 support service
Live online chat
Tech Support
Manager Advice
|
|
|
|
|
