Get Details Top Searched Mortgage Refinancing Options, Guaranteed Home Loan, Michigan Mortgage Lenders and Scottsdale Direct Mortgage Lenders, Getting a home loan just got easier | The Richard Woodward Mortgage Team (214) 945-1066.
Getting a home loan can sometimes be pretty challenging. You have to complete an application, your credit report has to be pulled, and then you must supply documentation to back up the information on your application.
The difficult part then begins. Underwriting. Underwriting is when a person charged with approving your loan must review all the documents and make sure that your loan package fits into their guidelines.
Every lender has their own set of guidelines. Most lenders will add additional qualifying conditions on top of the published guidelines for conventional Fannie Mae loans, FHA loans, VA loans, and USDA loans. These are called overlays.
I am happy to announce that here at Service First Mortgage we have just removed virtually all overlays from our lending guidelines. Basically what that means is that if Fannie Mae has a guideline we will underwrite our borrowers’ loans to exactly what Fannie Mae allows. This makes getting a loan far easier.
On top of that, we are one of the few lenders that will approve jumbo mortgages up to $850,000 in less than 30 days.
So if you have recently been turned down with one of those big banks or online lenders, give me a call at 214-945-1066. We just may be able to get you that loan.
At Service First Mortgage we are all about responsible lending with integrity. Let me make you a homeowner. Apply one line now.
Richard Woodward, NMLS 217454
Your Local, Direct, 5 Star Rated Mortgage Lender, Specialty Lending Manager
Office: (214) 945-1066
Service First Mortgage NMLS 166487
6800 Weiskopf Ave #200, McKinney, TX 75070
Licensed by the Texas Department of Savings and Mortgage Lending (SML) Mortgage Banker Registration. Service First Mortgage is an Equal Housing Lender. This is not an offer of credit or commitment to lend. Loans are subject to buyer and property qualification. Rates and fees are subject to change without notice. The views expressed on this site are those of the individual author and do not necessarily reflect the positions, strategies or opinions of Service First Mortgage or its affiliates.
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Refinance Home Loan – Does It Make Good Sense To Refinance My Home Loan?
Often Home Home mortgage Rates alter midday due to a volatile bond market. Is it possible to settle your home mortgage in less than 5 years? Find the very best home mortgage rates by taking a look at the offers on banks.
Refinance mortgage lenders accommodate different parts of the loaning market. So some lenders focus on prime loans, sub-prime loans, or both. Monetary business also vary in how they structure their costs and rates. So with some cautious research study, you can find the most affordable costing loan for your refi.
If your Mortgage is backed by Fannie Mae or Freddie Mac, you might be able to refinance even if your home deserves less than your click here for more information. This could be in the cards in early 2012.
Refinance-Interest rates still at all time low!-that’s best, rates of interest on home visit url remain as low as they have been in a long time. Lower rates suggest lower payments for your home mortgage. Lower home mortgage payments implies more non reusable earnings. Which implies more capital for you. How low are rates of interest today? Since July 27th,2011 a 30yr fixed rate was offered at 4.68%APR. A 5yr ARM was offered at a rate of 3.058%APR.
This can be a predetermined amount monthly, you can round up to the nearest $50 increment, you can simply double the amount that you are paying towards principle monthly, or you can simply do whatever you seem like in the moment. The point is, even if it is simply an extra number of dollars, it will build up in time. The majority of us have home loans that are 30 year terms. That is 360 home mortgage payments over the life of your loan (or more than 700 payments if you are paying bi-weekly) and that is a great deal of opportunities to chip away at your home mortgage and pay it off much quicker.
The initial step is to ask your pals or family for recommendations of possible mortgage lenders. Then contact numerous lenders and let them know that you’re shopping around for the finest rates. You might want to discuss your requirements with banks, credit unions, home mortgage business and brokers. Comparing loan plans or plans will help you get a better offer.
Pros – They can provide numerous more programs than many conventional lenders and banks. They are generally smaller sized business and can deal with consumers on a one on one basis. If you were to directly use with the organization they are utilizing, they can generally get you a better rate than you would get. Added “Pro”, they have the ability to close loans on their schedule, which is an advantage over simply plain brokers.
A fifty year loan could be precisely what you require. It is never ever a wise concept to acquire a home which runs out your financial reach by utilizing a fifty year mortgage loan. Your loan provider can help you choose whether or not this type of mortgage loan is best for you. Consider all alternatives before deciding on which type the full report mortgage loan is best for you.
With such a long term the bank is charging more interest. Therefore, they will be able to help you get a home loan from among the numerous banks they represent. Attempt paying more than what you’re expected to pay monthly.