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HomeReady™ Affordable Mortgage
Designed for creditworthy homebuyers and existing homeowners, a HomeReady™ Affordable Mortgage features expanded eligibility for the diverse needs of today’s buyers. Our fixed-rate HomeReady™ Affordable Mortgage has several borrower benefits when compared to a FHA Loan: HomeReady™ Affordable Mortgage FHA Loan Low down payment - available with just 3% down (gift funds allowed) Requires 3. 5% minimum down payment Reduced mortgage insurance coverage requirements (above 90% LTV), and ability to remove. Mortgage insurance required for life of loan Flexible sources of income to meet eligibility requirements, including boarder income, Non-Occupant Borrowers and Non-Borrower Household members.
Reverse Mortgages: What You Need to Know
What Is a Reverse Mortgage? A reverse mortgage is a home equity loan that permits you to convert some of the equity in your home into cash while you retain ownership. This can be an attractive option for senior citizens who may find themselves "house rich" but "cash poor", but it is not right for everyone. Please read this fact sheet carefully and consult a lawyer before you make any decision. Equity is the difference between the appraised value of your home and your outstanding mortgage balance. The equity in your home rises as the size of your mortgage shrinks and/or your property value grows.
Near prime lender Pepper launches in UK
The lender is also offering near prime residential mortgages up to 75% loan-to-value from 3. 35% for a tracker and near prime buy-to-let rates from 3. 90% up to 70% LTV. Pepper chief executive Richard Klemmer said the lender is keen to offer deals to customers who have suffered a credit blip in the past linked to a specific life event. He also revealed the lender was not interested in how large a credit blip borrowers had suffered and would place no cap on this. He added: “We are more interested in whether the borrower can demonstrate they have got their finances back on track.
Subprime lending market in Canada skyrockets to record as banks tighten reins
Subprime lenders’ share of the Canadian mortgage market has reached record levels, according to data obtained by theFinancial Post , putting increased risk on the housing market. Alternative lenders, who are major beneficiaries of that subprime market, now underwrite 2. 2% of all mortgage loans — probably not enough to cause any major structural damage to the housing market in the event of defaults, but their market share has exploded. The data, compiled by CIBC World Markets based on Statistics Canada figures, shows that the value of loans from alternative lenders grew by 25% during the past year while the overall market for mortgages increased by 4% during the same period.
Myrtle Beach Mortgages & Rates | Call us: 843.353.1635
Request to URL: "http://www. zillow. com/webservice/GetRateSummary. htm?zws-id=X1-ZWz1b3aoj74u8b_8jmj2&state=SC" failed. Response code: 404 Myrtle Beach Mortgage Place is your source for lending in Myrtle Beach SC. Looking for the lowest possible interest rate on your next mortgage or refinance? Use our QUICK CONTACT to get someone working on a no-obligation, lowest rate comparison quote today. The following interest rates are based on averages available for today. Actual interest rate offers may be higher or lower. Please use this information as a guide to trends in real estate mortgage rates in South Carolina.
TMBA - Reverse Mortgage Day
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Jumbo Loans for High Value Homes
Jumbo loans are your best bet when you need financing outside of conventional loan amounts – $417,000 and higher. These mortgages come with a wide selection of terms, but in most cases you will be able to obtain lower rates for big purchases, such as a primary place of residence, secondary homes, vacation homes, or investment properties. You can choose between fixed-rates or adjustable rates for your jumbo loan, giving you the flexibility to obtain a jumbo loan to meet your unique needs and support financial goals. Is a Jumbo Loan Right for You? Jumbo mortgage loans may be a fit for you if you: Need to make a large home purchase, costing between $417,000 and $2 million.
USDA Home Loan Advantages:
A USDA Home Loan is a Government insured loan that allows borrowers to obtain 100% NO MONEY DOWN financing. It is designed to meet the needs of people living in small communities, rural areas, as well as outlying metropolitan areas. These loans are offered by private lenders such as Primary Residential Mortgage and insured by the government. At PRMI we specialize in USDA Loans. Since we underwrite all of our loans our team of Loan Officers, seasoned Underwriters and support staff have spent years helping people make the dream of homeownership a reality with USDA Loans.
U. S. Department of Agriculture (USDA) Guaranteed Rural Home Loans are creating homeownership opportunities throughout Pennsylvania with No Money Down Financing in rural communities and areas just outside of major metro areas. The USDA Rural Development Loan Program offers first time homebuyers and move-up buyers: 100% Financed Mortgage, No Money Down, $0 Down Payment USDA Loans monthly mortgage insurance premiums are 59% lower than a comparable FHA Loan Flexible Credit Requirements Safe, Secure 30 Year Fixed Rate Mortgage No Maximum Loan Amount With Seller Help, No Out-Of-Pocket Closing Costs Most Property Types Allowed Learn More ! Start Online Now! If you have an existing USDA Loan you will receive the following benefits of a USDA to USDA Refinance Loan: No appraisal report required and streamline approval process Property valuation not considered, refinance even if the house is worth less than the current mortgage Obtain an interest rate as low as 3.
Dallas Mortgage Lending
Gateway Mortgage Group is a registered service mark of Gateway Mortgage Group, LLC NMLS 7233. All loans are subject to program guidelines and final underwriting approval. Contact a local branch for details. Gateway Mortgage Group, LLC holds the following state licenses: Alabama – Consumer Credit Lic. #20212, Arkansas – Combination Mortgage Banker-Broker-Servicer Lic. #11976, California – Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act Lic. #4130789, Colorado – Regulated by the Colorado Division of Real Estate, Delaware – Licensed by the Delaware State Bank Commissioner Lic.