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Creative Loan Options you should know…
December 20, 2011 by Kris Vandeneinde · Leave a Comment
Additional Loan Options
One of the options you must consider when obtaining a mortgage is which program is best suited to your comfort levels and long range goals.
There are many options to choose from which suggest that it is always best to meet with the lender first to get pre-approved BEFORE you go house hunting.
If you would like to schedule your No-Obligation No-Cost Consultation please call me at 719-260-2203 or use the pre-application link below.
While many borrowers choose a fixed rate loan there are several other options to consider.
ARM’s: These are Adjustable Rate Mortgage loans. They will usually be offered as a 1 year, 3 year, 5 year, 7 year or 10 year term. This means your rate will adjust after the initial fixed term of 1, 3, 5, 7 or 10 years.
There are also several different indexes lenders will use to calculate the amount of the adjustment, rate caps and margins are also key factors in this adjustment calculation.
If ARM’s are of interest to you and you would like to learn all of the details you can call me at 719-260-2203 to discuss your options.
Two-Step Loans: These loans usually provide an initial rate for a set number of years 5/25 or 7/23 and a second rate adjustment after the initial term for the balance of the loan term.
Interest Only Loans: These loans offer the flexibility of paying only your interest which results in a lower initial payment. This is a product that requires careful consultation and review.
New products and programs are being developed all of the time.
For the most up-to-date information on programs and products please call me at 719-260-2203 and we can customize the one to best fit your needs.
You can also contact me through my website at:
http://krisvworksforme.com/contact.htm
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If you would like to get started now please fill out a Secure Online Application and we will contact you to set up your free consultation and get you into the home of your dreams with the best terms available… regardless of your credit!
http://krisvworksforme.com/application
Or if you have questions, call us or submit them here:
http://krisvworksforme.com/contact.htm
