At Palm Lending we work tirelessly to help those living in Texas and Florida find the right financing options for their home purchase or refinance. With our 11 years of experience, we understand that no two home buyers are the same and we are experts at finding the right loan options for you. We dedicate ourselves to delivering outstanding customer service through a consultative approach by providing all the information needed to make the best financial decision.
Whether you are looking to purchase your first Texas or Florida home, refinance a current mortgage, or consolidate an outstanding debt, we will discuss your overall financial goals and present you with multiple solutions. We understand that your home is one of the biggest investments you will make and having the right loan officer makes all the difference.
Although we are located in Austin, we offer unparalleled service and competitive mortgage rates to clients throughout, Fort Worth, Dallas, Houston, Temple/Waco, San Antonio, El Paso or any the entire State of Texas!
Whether you are looking to purchase your first Texas or Florida home, refinance a current mortgage, or consolidate an outstanding debt, we will discuss your overall financial goals and present you with multiple solutions. We understand that your home is one of the biggest investments you will make and having the right loan officer makes all the difference.
Although we are located in Austin, we offer unparalleled service and competitive mortgage rates to clients throughout, Fort Worth, Dallas, Houston, Temple/Waco, San Antonio, El Paso or any the entire State of Texas!
Services
At Palm Lending, we put the customer first - we are looking to build a lifelong relationship because we know you'll count on us to deliver the best service for all your mortgage needs!
We are committed to making the loan process easy and affordable for our customers and we keep your best interest in mind with every decision we make.
We have 16+ years of knowledge and expertise of the mortgage industry and a lifetime of experience living in the area.
Being locally owned, we are able to provide the best of both worlds to all of our customers, regardless of which state they live in.
We are committed to making the loan process easy and affordable for our customers and we keep your best interest in mind with every decision we make.
We have 16+ years of knowledge and expertise of the mortgage industry and a lifetime of experience living in the area.
Being locally owned, we are able to provide the best of both worlds to all of our customers, regardless of which state they live in.
An ARM is a mortgage with an interest rate that may vary over the term of the loan - usually in response to changes in the prime rate or Treasury Bill rate.
The purpose of the interest rate adjustment is primarily to bring the interest rate on the mortgage in line with market rates.
Mortgage holders are protected by a ceiling, or maximum interest rate, which can be reset annually.
ARMs typically begin with more attractive rates than fixed rate mortgages - compensating the borrower for the risk of future interest rate fluctuations.
The purpose of the interest rate adjustment is primarily to bring the interest rate on the mortgage in line with market rates.
Mortgage holders are protected by a ceiling, or maximum interest rate, which can be reset annually.
ARMs typically begin with more attractive rates than fixed rate mortgages - compensating the borrower for the risk of future interest rate fluctuations.
Borrows often lock into 3 to 10 years of fixed rate payments before the initial interest rate change.
At the end of the fixed period, the interest rate adjusts annually.
Fixed-period ARMs are typically tied to the one-year Treasury securities index: 3/1, 5/1, 7/1 and 10/1.
ARMs with an initial fixed period beside of lifetime and adjustment caps usually have also first adjustment cap.
It limits the interest rate you will pay the first time your rate is adjusted.
First adjustment caps vary with type of loan program.
At the end of the fixed period, the interest rate adjusts annually.
Fixed-period ARMs are typically tied to the one-year Treasury securities index: 3/1, 5/1, 7/1 and 10/1.
ARMs with an initial fixed period beside of lifetime and adjustment caps usually have also first adjustment cap.
It limits the interest rate you will pay the first time your rate is adjusted.
First adjustment caps vary with type of loan program.
Conforming loans are conventional loans that meet bank-funding criteria set by Fannie Mae (FNMA) and Freddie Mac (FHLMC).
Both of these stock-holding companies buy mortgage loans from lending institutions and secure them for resale to the investment community.
Every year, form October to October, Fannie Mae and Freddie Mac establish limits on what constitutes a conforming loan in a mean home price.
Buying back mortgage loans allow these agencies to provide a continuous flow of affordable funding to banks that reinvest their money back into more mortgage loans.
Both of these stock-holding companies buy mortgage loans from lending institutions and secure them for resale to the investment community.
Every year, form October to October, Fannie Mae and Freddie Mac establish limits on what constitutes a conforming loan in a mean home price.
Buying back mortgage loans allow these agencies to provide a continuous flow of affordable funding to banks that reinvest their money back into more mortgage loans.
With a fixed rate mortgage, the interest rate does not change for the term of the loan, so the monthly payment is always the same.
Typically, the shorter the loan period, the more attractive the interest rate will be.
Payments on fixed-rate fully amortizing loans are calculated so that the loan is paid in full at the end of the term.
In the early amortization period of the mortgage, a large percentage of the monthly payment pays the interest on the loan.
As the mortgage is paid down, more of the monthly payment is applied toward the principal.
Typically, the shorter the loan period, the more attractive the interest rate will be.
Payments on fixed-rate fully amortizing loans are calculated so that the loan is paid in full at the end of the term.
In the early amortization period of the mortgage, a large percentage of the monthly payment pays the interest on the loan.
As the mortgage is paid down, more of the monthly payment is applied toward the principal.
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