We Help You Find the Right Mortgage for Your Real Estate Property

Not all mortgages are the best fit for you, so choose them wisely!

The home-buying process can be overwhelming. For most people, it’s the biggest financial purchase of their lives, and mortgages can often be an afterthought. But how do you find the right mortgage that suits your needs the bestfrom the available options?

There are many factors that determine what kind of home loans would fit-in your requirements the best, such as your financial situation, existing debt, cash-in-hand, loan-terms, future cash-flow, etc. It’s easier to be said, but actually going through the entire-mortgage process is more than just securing the best interest rate.

That’s’ why, we as mortgage specialist are ready to help you find the best mortgage for you in a hassle-free way, doing all the heavy lifting for you and landing you a home loan that best fits into your scheme of things bringing you a peace of mind.

Types of Mortgage Options Available for You

FHA Loans (Government-Insured Federal Housing Administration Loans)

FHA Home Loans are best-fitted for those homebuyers who are the first-time buyers or who does not qualify for conventional loans. This loan program is secured by the Federal Housing Administration that authorizes lenders to offer low mortgage rates with as little as 3.5% of the home’s purchase price as down payment. The advantages of FHA loans are:

• Low down payment with low-to-medium credit scores.
• A higher debt-to-income ratio is allowed.
• Housing options.
• No income limits.
• Cheaper monthly EMIs for low credit scores.

VA Loans (Government-Insured Veterans Affairs Loan)

VA Loans are the most significant and powerful loan options for Veterans, active military service members, and surviving spouses with 100% financing of the loan amount.Insured by the Department of Veteran Affairs which offer military veterans a host of financial benefits including low-interest rates, zero down payment, fewer closing costs, no PMI or MIP and much more.

• No Down Payment.
• No Private Mortgage Insurance.
• Competitive Interest Rates.
• Relaxed Credit Requirements.
• Closing Cost Limits.
• Lifetime Benefit.
• No Prepayment Penalties.
• Foreclosure Avoidance.

USDA Loans (Government-Insured U.S Department of Agricultural Loans

The USDA loan is among some of the most profitable and effective loan programs for those who are looking to buy a home in designated rural or suburban areas. Best suited to homebuyers with low household income with little to no money for down payment.

Created to help rural and suburban people to achieve the dream of homeownership, the USDA loan program is loaded with privileges for many who may not have the qualifications for conventional home financing.

Jumbo Loans

If you wondering to buy a house in an expensive region or looking for a loan that needs a huge   amount that is beyond the scope of the coverage of the conventional loans, then you may consider opting for a jumbo loan. This jumbo loan is borrowed to buy properties and homes that are extremely expensive and luxurious. For a jumbo loan, you should have a high credit score, you have to make sure you have assets in reserve, and additionally, this loan demands a large down payment. 

How We Can Make Loan Process Hassle-Free for you?

Getting a new home can be exciting and overwhelming for some, but it requires a lot of patience and time. The very first-step is to know how much money you can borrow according to your current and expected future financial status, and the credit score. Home Loans come in various shapes and sizes and it's crucial to find out which loan makes the most sense for your financial situation and meet your goals effectively. Once you choose the best-suited mortgage for you, you need to fill up an application form for your loan.

After submitting the application form, we will begin the loan agreement process instantly. Your loan processor will verify all of the information that you have given. Any discrepancies found in the application may drastically slow down the loan process. So, fill-in-the information as accurate as possible. This information includes-

• Income/Employment Check

• Credit Check

• Asset Evaluation

• Property Appraisal and any other document if it's required.

Having all the correct information about your essential documents helps to approve your loan flawlessly, and then you are ready to sign the final documents of your home loan.

There are also several fees associated with obtaining a mortgage and transferring property ownership which you will be expected to pay at closing. Bring cashiers to check for the down payment and closing costs if required. Personal checks are normally not accepted. You also will need to show your homeowner's insurance policy, and any other requirements such as flood insurance, plus proof of payment.

Your loan will normally close shortly after you have signed the loan documents. On owner-occupied refinance loan transactions federal law requires that you have 3 days to review the documents before your loan transaction can close.

Why Do You Need A Mortgage Specialist?

Application Checklist

Getting a perfect home can be a complicated process for many people, it is full of inconceivable terms, financial transactions, and endless details of basic information that can give you sleepless nights even for months, but banking onreal estate professionalslike us will help you to deal with all the challenges effectively when you are planning to buy a home.

Gathering all the paperwork for application is an essential thing before you apply for a mortgage and tracking down all the necessary documents can take time, that is why we are here to help you throughout the whole process of making an application checklist for your new home. A mortgage application typically requires a paper trail to verify:

• Income and employment.
• Assets and debts.
• Credit history.
• Identity.
• Rental history.
• Other information such as bankruptcy, or gift funds.

Credit Score

Financial Advisors constantly warns consumers and homebuyers to keep their credit score in a tip-top shape if they are planning to buy a mortgage because the higher your credit score will be, the more likely you will get the best mortgage rates. Your credit score and the information about your credit history, are vital elements in determining whether you are competent to get a mortgage or not.

If your credit reports are good, banks and lenders are more likely to authorize your credit applications, but if your credit scores are not good enough then we are here to assist you to get a good credit score as well as a good credit report.

Closing Cost

Closing costs belong to the amounts that are fixed and paid when a purchase of a mortgage is finalized. The buyers and sellers have to pay the closing costs to one who facilitatethe transaction. This closing cost includes mortgage insurance, appraisal expenses, and property taxes.

Appraisal

An appraised value of a mortgage is an important characteristic in the process of loan underwriting as it plays an essential role in discerning how much capital can be borrowed. An appraisal confirms that you don’t have to overpay for a property this is why most mortgage proposals expect home appraisals. An appraisal helps you to identify any other problems or issue with the property, such as zoning and regional issues. It also protects and prevents you from paying too much for a property.

Mortgage Insurance

If you are buying a mortgage and are not aware of Mortgage Insurance, it is high time to come out from the box in which you are living, Mortgage Insurance is becoming increasingly popular as it is another important factor when you are buying a home. It lowers the of risk of the lender offering a loan to you, so you can be authorized for a loan that you might not otherwise be eligible to get.

Refinance

Refinancing the mortgage is a popular technique to lower monthly payments and interest rates. The process of refinancing involves taking out a new loan to settle down your original mortgage loan. Homeowners refinance their mortgages to take the advantage of lower market interest rates, cash out their equity, cut their monthly payments, and change rate types and loan with longer repayment terms.

Foreclosure

Foreclosure is the remaining repayment of the loan amount in one single payment, instead of paying in EMIs. This will help the lender to calculate the foreclosure amount on the loan against the property and the lender can have full control of the property and attempt to sell it to recover the capital it sacrificed from the mortgage default.

Mortgage Calculator

A mortgage calculator is one of the most useful things twine you are looking for home loans, it is effective to calculate your monthly budget and to know that what factors can affect your monthly expenditure. A mortgage calculator can be an effective tool as you ready your finances to apply for a home loan.