MORTGAGE MISCONCEPTIONS

Published on June 2016 | Categories: Types, Business/Law, Real Estate | Downloads: 41 | Comments: 0 | Views: 230
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The truth about mortgage lending in today's market.

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MORTGAGE MISCONCEPTIONS Mortgage Loans are hard to get. Not true. There is plenty of funding available for home mortgages and several ve ry good loan programs. Although lenders have tightened their guidelines, low int erest rates and programs with flexible credit requirements are still available. Borrowers need to have perfect credit. Even if you have less than perfect credit there are still safe, secure mortgage financing options available. HomeStreet Bank employs knowledgeable loan officers who can evaluate your financial situation and help you get the financing you ne ed to fit your budget. Zero and low down payment programs are gone. Although not as prevalent as in the past, there are still several loan programs offering low down payment mortgages, like FHA â which has loans with as little as 3. 5% down. If youâ re a veteran, VA loans are available with zero down for many borrowe rs. Other programs, such as USDA Rural Development loans may be available to so me borrowers. Adjustable Rate Mortgages (ARMs) are bad. As with any loan you need to assure you can make the payments now ure but Adjustable Rate Mortgages (ARMs) can be a good tool. ARMs wer initial fixed interest rate for a set period of time (usually s). After the time period passes payments generally adjust to the ket rate plus a small percentage.

and in the fut come with a lo 3, 5 or 7 year prevailing mar

For more information please call Vickie and have her help you with a new home lo an. Vickie Robello (360) 491 3037 [email protected] HomeStreet Bank

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