The traditional 15 and 30-year fixed rate mortgages have monthly principal and interest payments that never change. This may be a good choice if you plan to stay in your home for seven years or longer. If you plan to move within seven years, then an Adjustable Rate Mortgage (ARM) may be a wise alternative. Apply for a 10, 15 or 30-Year Fixed Rate Mortgage
An Adjustable Rate Mortgage (ARM) has an initial period where the rate is fixed, which is typically 3, 5 or 7 years. After this period, the rate may change in response to the index with which it is associated. Initially, ARM interest rates are lower than those of the fixed rate mortgage but will fluctuate at intervals based on the benchmark rate. An ARM is ideal if you are planning to sell the home before the term of the ARM. Apply for your ARM loan!
FHA loans are designed to make it easier to qualify for home financing. Historically, FHA allows for some of the most liberal lending standards in the market and is often a good fit for first time buyers, those with small down payments or those with less than perfect credit. The other advantage to an FHA loan is the lower interest rates that are available. Apply for your FHA loan!
The VA (Veterans Administration) Loan is a loan program established by the United States Department of Veterans Affairs to help veterans and their families obtain home financing. VA loans offer up to 100% financing on the value of a home. To qualify for a VA loan, borrowers must present a Certificate of Eligibility, which establishes their record of military service, to the lender. Apply for your VA Loan!
A USDA home loan, also known as the USDA Rural Development Guaranteed Housing Loan Program, is a no down payment loan offered to rural property owners by the United States Department of Agriculture. USDA Home Loans offer 100% qualified buyers and allow for all closing costs to be either paid by the seller or financed into the loan. To qualify for a USDA loan, the home must be located in a designated USDA rural area. Click to check USDA Property Eligibility|Apply for your USDA Loan!
Questions about Lendem Financial mortgage loan options? Why you should think about using a mortgage broker vs a bank? Using a Mortgage Loan Officer that has access to all sources of lending institutiuons helps people get the best loan for their situation and offers all options on the market vs the programs at one bank. Call Todd Rubick of Lendem Financial and tell him why the bank said no... If your tax returns do not show your true income, or credit is less than perfect... Full service all source lending strategies will be offered for those that need them.