Selecting a Home Loan Program on a Purchase or Refinance will be based on your goals of Homeownership!
Are you looking for a home loan? I welcome the opportunity to discuss your mortgage needs! Call me at 909-503-5600. Want to get started? Apply Now
There are not as many financing loan programs as there are borrowers, but sometimes it seems like it! We can help you find the loan program that will fit your financial situation the best. There are some general things to bear in mind as you review your options such as:
- How Long do you plan to live in the property
- Location of the property
- Owner Occupied or Investment home
- What type of property - Single Family, Units (1 to 4), Condo, Townhouse, PUD (Planned Unit Development) or a Manufactured home that is on a permanent foundation
- How much funds to you plan to investment in the property
- Are you upsizing or downsizing
- Looking for a fix or an adjustment interest rate
- Do you wish to finance closing cost in the loan or pay the cost at the time of closing
- Loan amount
With a Refinance Home Loan:
You already own the property, now what is the goal of that home; remove the mortgage monthly insurance, refinance into a short term to payoff the mortgage sooner to save on the interest over the long term loan. Do you wish to pull cash out of the freed up equity your property may have to pay of high interest credit cards, do some much need home improvement projects or purchase another property for an investment? With refinancing your property we can look at various loan options that will work within your budget of the refinance, presenting you with options on the length of the term, loan amount, desired cash out or monthly savings with give you the tools so that you can make the right decision based on your goals.
With a Purchase Home Loan:
When purchasing a new property, consider several factors of that purchase. Location of the property, each county will have different size loan limits, higher purchase amount could push you into a Jumbo loan product. Are you a first time home buyer and needing a down payment assistance, these programs will be based on income limits per county. If you a Veteran or looking to purchase in a particular area of a county, there is a no money down home loan program waiting for you. This list can go on and on on the various lending programs for home buyers, that is why before looking at homes to purchase, speaking with a loan officer so he or she can review you financial situation and present you loan options based on your goal of owning a home.
Selecting the Right Program:
Weather you are purchasing or refinancing a home, know your financing options and what program works best for you that will meet all your goals. Look at a couple programs that will benefit you based on payment, rate, cost and loan amount. You need to work with a licensed mortgage professional that has your best interest in mind, this is your home and you are the one making the payment, get is right the first time. To help you understand your options and the multiple benefits of refinancing or purchasing a home, please contact me at 909-503-5600.
Want to know more about financing a home? Give me a call: 909-503-5600.