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FHA, VA, investor loans, 100% USDA loans,
interest-only, 40-year and 100's more!
A mortgage is not simply a debt, but a tool. We have many more options than what our parents had and it is really worth working with a mortgage planner (verses just an order taker loan officer) and reviewing how proper mortgage planning can affect your net worth. Homes were made to store families; investments were made to store cash! Have you thought about what you could be doing today, or this week to help you make the most of the money and income you have? How are you building wealth today and how are you teaching those that are important to you these concepts so that you can leave a legacy and really enjoy life to its fullest? This is a rewarding task our team will help you with as your lender for life.
It is worth while looking at more than the traditional fixed rate loan. Most folks on average are putting down about 5-10% on a mortgage. One creative option is to do a loan without mortgage insurance. This is particularly important if you are earning over $100K per year or buying an investment property. We do have very low down payment loans without mortgage insurance. We will look at these for you. There are also a variety of combo loans, fixed rate interest only loans (GREAT tools if you have the discipline to save money), FHA and VA loans and Rural 100% no PMI Home loans.
There are special first time buyer programs where we can get you down payment assistance or you may qualify for loans that are actually below the current market rate... even if you are putting no money down! These down payment "grants" do not carry any recapture tax and don't have to be repaid! There are programs that you can qualify for if you don't show a lot of income (sometimes the case with self employed or commissioned people). There is owner financing and cash out refinances on property to pay off debt or use for down payments on other properties. Equity repositioning is a big part of mortgage planning. Ask us about how this strategy can increase your net worth.
If you are selling your property and buying another property before you close on your existing home, there are "bridge" loans. We have access to 100's of loan products. This is the beauty of working with a mortgage banker verses just one bank. We can offer the best terms and program for you. When you are thinking of buying your next property, it is best to get together with us ahead of time for a free strategy session where we will look at various loan options for you and that way you can think about these before you have the stress of the transaction upon you. This will also give you more negotiating power when you make an offer.