Mortgaging Your Home

Most home owners will require a mortgage, unless  of course you have your own financing or enough money to pay for a house in its entirety. As you likely know a mortgage is a long term loan you take out to finance the purchase of your home.  I can help you obtain the best rates using my contacts in the banking & private lending sectors.

I work closely with many banks and lenders to help get you qualified. Give me a call, or email me and we can get you pre-approved today, and start shopping for your next home.

Today, there are  hundreds of different programs to choose from, but don’t let that overwhelm you.  Most loans are variations of a fixed-rate mortgage and adjustable-rate mortgage. I deal with mortgages regularly, so I can help you make a decision that is best for you.

Here are some terms that can be helpful:

A Fixed-rate mortgage is a home loan with  an interest rate that will remain at a specific rate for the term of the loan. About 75 percent of all home mortgages have fixed rates.

Adjustable-rate   mortgage (ARM) is a loan with an   interest rate that is periodically adjusted to reflect changes in a specified   financial index.

  • Convertible   adjustable-rate mortgage A mortgage which   starts as an adjustable-rate loan, but allows the borrower to convert the loan   to a fixed-rate mortgage during a specified period of time.
  • Fully amortized   adjustable-rate mortgage A mortgage that   amortizes, or pays down, the balance of a loan.

Knowledge of how these mortgage programs work will help you to understand the majority of available loan options. You may qualify for a new loan without even selling your  current home. It’s simple to run the numbers for yourself by clicking on the “Today’s mortgage rates” chart.