After years of historically low rates, we are beginning to see mortgage rates climb – slowing but surely. If you are considering buying a home in the near future, the time is NOW!!
These loans have a fixed rate and monthly payment for the full life of the loan, making it easier to budget. The rate on a conventional mortgage loan is generally higher than an adjustable rate mortgage.
These loans usually start with a lower rate than fixed rate loans. We will inform you of how much the rate can be adjusted over the life of the loan, so you will know the maximum amount you would ever have to pay. If you anticipate moving in a few years or if you think interest rates will be going down, you may want to consider this type of loan.
Loans that are guaranteed by the Veterans Administration. These loans provide 100% financing on the purchase of a home, and 90% for refinancing. Normal closing costs are required, but there is little to no down payment.
These loans require a relatively small down payment, and are insured through Federal Housing Administration.
Loans provided in designated rural counties or areas that provide 100% financing. These loans are limited by income of the borrower(s).
You’ve worked hard to build equity in your home, so why not use it to buy a new car, take a dream vacation, or consolidate debt? You can even finance your child’s education. Get the money you need to do what you want!