Mortgage Loan Options & Products
Are you dreaming of owning your own home but don’t have enough cash to buy it outright? Don’t worry, because our mortgage lending services can help you make your dream a reality.
Conventional loan for stable income and good credit, more borrower options.
Conventional mortgage loan offers the following benefits:
- Reduced interest rates
- Lesser penalties and fees
- Down range from 3% to 20%.
FHA promotes homeownership, particularly for low to moderate-income families.
FHA mortgage loan offers the following benefits:
- Flexible income & credit
- Low down payment
- Gift funds allowed
VA Loans for a path to homeownership that honors your service & sacrifice.
VA Mortgage loan offers the following benefits:
- No PMI required
- Fixed/adjustable rates
- No prepayment penalty
Jumbo mortgage loans are great for borrowers with good credit but insufficient funds to meet the FHFA’s conforming loan limit.
Jumbo mortgage loan offers the following benefits:
- Higher purchase limits
- Ability to buy more expensive homes
- Options for primary residences, second homes,
or rental properties.
Our USDA Loans offer low rates and no down payment requirements to help you purchase or refinance a home in a rural area.
USDA mortgage loan offers the following benefits:
- Lower credit score requirements
- Financing up to 100% of the appraised value
- Financing for the upfront portion of the guarantee fee
A reverse mortgage loan converts a portion of your home equity into cash to improve and prolong your retirement.
Reverse mortgage loan offers the following benefits:
- The ability to access a portion of your home equity as cash
- The option to eliminate your monthly mortgage payments
- The flexibility to use the funds.
Refinancing is suitable if the home’s value has increased significantly or if interest rates are lower than when you initially bought.
Refinance loan offers the following benefits:
- Opportunity to reduce your loan term
- Possibility of securing a lower interest rate
- Ability to tap into your home’s equity.
Any type of mortgage loan, whether it’s Conventional, FHA, VA, USDA, or Jumbo, can be a fixed-rate mortgage loan.
Fixed-Rate mortgage loan offers the following benefits:
- Stable interest rates that don’t vary
- Protection against potential future rate increases
- Various loan term options included.
If you’re considering moving within seven years, an ARM loan could be a suitable choice due to its lower initial interest rates.
Adjustable-rate mortgage loan offers the following benefits:
- Beneficial for Lower initial monthly payments
- Qualification for higher loan amounts
- Rates and payments that may fluctuate.
*The appraised value of the property may influence the loan amount.
**Generally, cash from equity is tax-free. However, this information should not be considered as tax or financial planning advice. Consult a tax advisor for tax-related advice and a financial planner for guidance on improving your retirement plans. Emortgage capital is not associated with any government agencies. The materials presented here are not from HUD or FHA and have not been approved by HUD or a government agency. To be eligible for a reverse mortgage, borrowers must obtain a certificate by attending counseling sessions with a HUD-approved agency. The borrower must be at least 62 years old. Loan proceeds are not considered income and will not impact Social Security or Medicare benefits. However, your monthly reverse mortgage advances may affect your eligibility for certain other programs. Consult a local program office or an attorney to determine how, or if, monthly reverse mortgage payments could affect your specific situation. At the end of the reverse mortgage loan contract term, you may no longer own some or all of the equity in the property subject to the reverse mortgage, and you might need to sell or transfer the property to repay the reverse mortgage proceeds with interest from your assets. We will charge fees for origination, mortgage insurance, closing costs, or servicing for the reverse mortgage, which we will add to the loan balance. The reverse mortgage loan balance grows over time, and interest will be charged on the outstanding loan balance. You retain the title to the property subject to the reverse mortgage until you sell or transfer it, and you are responsible for paying property taxes, insurance, and maintenance. Failure to pay these amounts may cause the reverse mortgage loan to become due immediately. Interest on a reverse mortgage is not deductible on your income tax return until you repay all or part of the loan.
Craig Kaminski
NMLS #: 1417248
licensed by:
E Mortgage Capital, Inc. d/b/a E Mortgage Capital,
NMLS# 1416824
(www.nmlsconsumeracces.org)
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