Loan Options

Important!

 
  • Would you like to know more about loan options? Contact me today!




Permanent link to this article: http://new.0points.com/wp/loan-types/

conventional

Conventional

A conventional loan is the standard loan for good credit risk borrowers who are looking to either purchase or refinance a home. The loan amounts are up to $417,000 for conforming and over that amount is considered to be a Jumbo loan. Rates are slightly higher for Jumbo loans. Conventional loans are available either with …

View page »

homeimprove

Home Improvement

A home improvement loan enables homeowners to tap into the equity from their home to renovate or remodel. Homeowners can choose either a cashout refinancing, or can obtain a home equity loan as a second mortgage on their home. With the recent appreciation of homes, many homeowners are renovating and building additions on their current …

View page »

FHA

FHA/VA

FHA or VA home mortgages are popular options for 1st time homebuyers who may have little or no money for a down payment. VA loans are for veterans and require no down payment at all. Both FHA and VA loans are government backed loans and are usually easier to qualify for as compared to a …

View page »

cashout

Cashout Refinancing

Cashout refinances are one of the most popular types of loans. These loans enable homeowners to tap into the appreciated equity in their homes and use this money to remodel, invest, and payoff consumer debt. This loan can also be used to finance an education or to start a business. This type of loan is …

View page »

loanterms

Common Loan Terms

Fixed Rate Mortgage A fixed rate mortgage has the same interest rate and monthly payment throughout the term of the mortgage. The payment is calculated to payoff the mortgage balance at the end of the term. The most common terms are 15 year and 30 years. Fully Amortizing ARM This is the most common type …

View page »