[Update — While overall market rates have moved higher recently, the Fannie Mae, Freddie Mac, FHA, VA, and USDA mortgage programs remain the best options for most borrowers. Contact us today to learn more.]
HOME PURCHASES
There are several government-backed home purchase programs designed to make it easier for Americans to buy a home, including programs from Fannie Mae, Freddie Mac, FHA, USDA, and the VA. The goal of these programs is to allow for low down payments and to make it easier for people with less than perfect credit to qualify for a mortgage. With housing prices becoming more reasonable across the country again, now is a terrific time to look into buying a home. Fill in the contact form on our home purchase programs page to learn more about the available government-backed purchase programs and perhaps to get pre-qualified for a home purchase loan.
HOME REFINANCES
There are several superb government-backed refinance programs for borrowers who have even a little equity in their homes.
Popular reasons to seek a refinance:
– Get cash out. Home values have increased dramatically across the country which allows for cash out refinances in many cases. Some popular reasons to get a cash out refinance include paying off credit cards and other expensive debts or doing home improvements. If the homeowner has an excellent rate on their first mortgage already and a cash out refinance doesn’t make sense to tap equity, sometimes a home equity line of credit (HELOC) or 2nd mortgage can work instead. Contact us to learn more.
– Lower interest rates and monthly payments. Refinancing to a better interest rate can help families save a lot of money.
– Get rid of mortgage insurance (PMI). If you have at least 5-10% equity, contact us to look at refinancing to remove monthly PMI payments.
– Refinance to a 15 year mortgage. Interest rates on 15 year fixed mortgages tend to be significantly lower than rates on 30 year fixed loans. Monthly payments on 15 year mortgages are generally higher than payments on 30 year loans, but for borrowers who can handle somewhat higher payments, refinancing to a 15 year mortgage can mean paying the mortgage off much sooner and saving massive amounts of money in interest paid over the the life of the loan.
Just fill in the form in the sidebar to be pointed in the right direction on these refinance options.
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