|
|
|
|
 |
 |
|
|
|
| |
| Refinancing |
| Fixed Rates |
| ARM (Adjustable Rate Mortgages) |
| Jumbo |
| Commercial Programs |
| FHA Loans |
| OHFA Loan for First Time Home Buyer |
| USDA (No Down payment ) |
| VA home loan |
| 203k Streamline Limited Repair Program |
|
Refinancing
For many people, their home is their biggest investment and source of savings. When they need to borrow money for major expenses, or to pay off accumulated debts, they can use their home value to borrow money.
Pay off your credit cards
If you have credit card or other consumer loans, it is often less expensive to consolidate these expensive loans with your mortgage.
Credit card interest rates are usually much higher than mortgage interest rates. And, the interest on your mortgage is tax deductible, while the interest on your credit card is not.
If you have enough home equity, you may be able to pay off your pricey credit card debts and save money.
Refinance vs. home equity loan
Generally, there are two ways to use your home equity to borrow money. You can either refinance with a new mortgage that is larger than your remaining balance (a cash-out refinance) or get a home equity loan.
A cash-out refinance is generally cheaper, but a home equity loan will usually let you borrow more.
|
 |
Fixed Rates
We offer 30, 25, 20, 15, 10 or you can choose your own lenght of time.
|
|
ARM (Adjustable Rate Mortgages)
1, 3, 5, 7, 10 Year Adjustable Rate Loan Programs
An Adjustable Rate Mortgage (ARM) is a mortgage loan that is most widely known for its low starting interest rate (when compared to the 30 & 15 year mortgage loans). This 'low' introductory rate is used to calculate the mortgage payment for a specified period of time. Once this introductory period is over, the interest rate is adjusted periodically based on a preselected index. The most commonly used index is the yield on the one-year Treasury Bill. The new interest rate is determined by adding this index to a set margin (which is determined by the lender). Although there are a variety of adjustable rate mortgage programs available, the most common program is the One Year Adjustable Mortgage (one Year ARM). The interest rate on the one year ARM is adjusted once each Year, for 30 years. APR's on variable rate loans are subject to increase but may decrease from year-to-year, the borrower should be prepared to handle an increase in his/her monthly payment (should the index rate increase).
|
|
Jumbo
A jumbo mortgage is a mortgage loan which is larger than the limits set by Fannie Mae and Freddie Mac. Since these two agencies will not purchase these types of loans, they usually carry a higher interest rate (to enhance their value and marketability to investors).
|
|
Commercial Programs
We offer commercial loan programs to suit nearly every borrower and property type. Successful commercial real estate financing is dependent upon the availability of competitive funding. My commercial loan programs are fast financial solutions for commercial property owners and investors.
Property Types
- Multi-Family
Traditional, multi-family residential complexes located in both city and suburban markets.
- Mixed-Use
Properties that integrate and combine residential with different uses, including retail and office spaces.
- Office
Traditional office or office type properties.
- Retail
Properties with a mix of tenants that meet the convenience needs of neighborhood residents, including video stores, grocery, and financial services companies.
- Light Industrial
Single- or multi-tenanted spaces used for warehouse, manufacturing, distribution, or research and development. We offer loans from $250,000 to $3 million in Fixed Rate programs with 25 and 30 year amortization. Adjustable rate programs are available with a 3-year below market start rate. Our loans have competitive rates and quick decision times.
|
|
FHA Loans
This loan program is a 3.5% down payment purchase program and can also be used for a debt consolidation refinance up to 95% LTV. Call for details.
|
|
OHFA Loan for First Time Home Buyer
First time home buyer progam with limited down payment. Income and location requirements. Call for details.
|
|
USDA (No Down payment )
Zero down loan program develpoed for the first time home buyer. There are income and location requirements. Call for details.
|
|
VA home loan
No Money down purchase program for veterans and can also be used as a 100% cash out program.
|
|
203k Streamline Limited Repair Program
FHA Purchase program developed to allow the new home owner to update or upgrade their home before they move in.
|
|
|
Unless otherwise indicated, these APR calculations are based on the following: Conforming loans (whose maximum loan amount is below $417,000 for the contiguous states, District of Columbia, and Puerto Rico or below $625,500 for Alaska, Guam, Hawaii and the Virgin Islands) are calculated based on a loan amount of $417,000 with closing costs of $8,340. Jumbo Loans (whose maximum loan amount exceed $417,000 for the contiguous states, District of Columbia, and Puerto Rico or exceed $625,500 for Alaska, Guam, Hawaii and the Virgin Islands) are calculated based on a loan amount of $1,000,000 with closing costs of $20,000. Your actual APR may be different depending upon these factors.
|
|
|
|
|
|