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The best loan for you

When considering buying or refinancing a home, a borrower should have the proper knowledge to make the correct decision. There are several loan options out there and the right Loan Officer is a valuable asset.

During the initial conversation, you must clarify to the Loan Officer what your long term goals and strategies are. For instance, if you would like to buy a home and you have lower credit and you want to stay in that home for a loan time, you might want to first look at the FHA loan option. The FHA loan is a government back loan which provides homebuyers with the low interest rate and the option of a low down payment. A disadvantage of the FHA loan is that it carries long-term mortgage insurance, that will never go away.

Having time to make the correct loan decision is essential. Don't rush it. When considering buying a loan, set aside a month or so before starting diving into the process. During that month, read over articles, familiarize yourself with the various loan options and don't get overwhelmed by the vast amount of information out there. Keep it simple. Buying a house should be fun and not a pain in the bum.

A second loan option is the conventional loan. This is the most common and most popular option out there. The conventional is a good option for homebuyers with higher credit scores. The rates are higher but with more than a 20% down payment, there is no mortgage insurance. Ensuring the best loan for the dollar. Contact us today about the conventional loan option.

A third loan option is the VA loan. The VA loan is a wonderful loan provided by the government for Veterans. The loan boasts a 100% financing option with no down payment. There is mortgage insurance but the interest rates are very low. If you are a veteran and would like to contact us about refinancing or purchasing a home, our office is fully staffed with professionals versed in VA loan resources.

Another loan option is the non-qm loan. There is an option out there that provides future homebuyers with the option to use alternative methods of financing to purchase a property. These loans are often completed with bank statements or stated income. They are useful for people who have high assets and lower income.

Our staff is versed in understanding the loan process. We value our time and yours too.

Contact us today for a preliminary consultation at: 720-850-2418

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