15 or 30-year fixed rate mortgages-the most common type of home loan-feature interest rates which do not change with time, and often have a lower total cost than more specialized types of mortgages. FHA mortgage loans are insured by the U.S. Federal Housing Authority and allow first-time homeowners to more easily qualify for loans and pay smaller down payments.
VA loans are guaranteed by the U.S. Veterans Administration, and carry significant advantages, such as no required down payment or prepayment penalties. USDA loans help lower and middle income families buy homes in qualifying rural and suburban areas. While many loans have maximum loan amounts that can make it difficult to buy in expensive areas, jumbo loans allow you to exceed this 'conforming' loan limit.
A reverse mortgage allows you to use your property as a source of continuing income, or to pay off high-income debt or living expenses. Whether you're a homebuyer or real estate agent, you can be sure that you will have our full attention.
VA loans are guaranteed by the U.S. Veterans Administration, and carry significant advantages, such as no required down payment or prepayment penalties. USDA loans help lower and middle income families buy homes in qualifying rural and suburban areas. While many loans have maximum loan amounts that can make it difficult to buy in expensive areas, jumbo loans allow you to exceed this 'conforming' loan limit.
A reverse mortgage allows you to use your property as a source of continuing income, or to pay off high-income debt or living expenses. Whether you're a homebuyer or real estate agent, you can be sure that you will have our full attention.
Services
When you make your first appointment with PMG Home Loans, you'll have to provide us with some basic information about your finances.
This includes proof of income for the last two years, typically in the form of W-2s, tax returns, pay stubs, year-to-date income statements, and documentation showing any other income, such as bonus pay or alimony.
We'll also need to check your credit.
If you've purchased a home before, you might have gotten a "no verification" loan (sometimes referred to as 'no-doc loans').
This includes proof of income for the last two years, typically in the form of W-2s, tax returns, pay stubs, year-to-date income statements, and documentation showing any other income, such as bonus pay or alimony.
We'll also need to check your credit.
If you've purchased a home before, you might have gotten a "no verification" loan (sometimes referred to as 'no-doc loans').
Maybe you've been in your home for a few years now, and things have changed.
Interest rates may have fallen lower than they were when you financed your home, or perhaps your financial circumstances have improved due to being more established in your career.
Either way, your current mortgage is a little more pricey than you would like, or maybe you have a couple mortgages that you would like to consolidate.
To understand refinancing, you have to take a step back and examine how a mortgage loan works.
Interest rates may have fallen lower than they were when you financed your home, or perhaps your financial circumstances have improved due to being more established in your career.
Either way, your current mortgage is a little more pricey than you would like, or maybe you have a couple mortgages that you would like to consolidate.
To understand refinancing, you have to take a step back and examine how a mortgage loan works.
You may have heard the term "conventional loan" before, and wondered what it meant.
A conventional loan is simply any type of home loan not offered or secured by a government entity, such as the Department of Veterans Affairs (VA) or Federal Housing Administration (FHA).
Conventional loans can also be guaranteed by one of two government-sponsored enterprises, the Federal National Mortgage Association ("Fannie Mae") and the Federal Home Loan Mortgage Corporation ("Freddie Mac").
You can find more information on conforming loans below.
A conventional loan is simply any type of home loan not offered or secured by a government entity, such as the Department of Veterans Affairs (VA) or Federal Housing Administration (FHA).
Conventional loans can also be guaranteed by one of two government-sponsored enterprises, the Federal National Mortgage Association ("Fannie Mae") and the Federal Home Loan Mortgage Corporation ("Freddie Mac").
You can find more information on conforming loans below.
FHA loans allow you to make a down payment as low as 3.5%, as long as you have a credit score of 580 or better.
While PMG Home Loans will work face-to-face with you to help you secure an FHA mortgage loan, FHA loans are actually insured by the Federal Housing Administration.
This is because FHA loans are designed to allow first-time homebuyers who don't have the credit or income necessary for a conventional loan to still secure a loan with a good interest rate.
One of the biggest selling points of FHA loans is that, with a credit score of 580 or higher, you can make a down payment of as little as 3.5%.
While PMG Home Loans will work face-to-face with you to help you secure an FHA mortgage loan, FHA loans are actually insured by the Federal Housing Administration.
This is because FHA loans are designed to allow first-time homebuyers who don't have the credit or income necessary for a conventional loan to still secure a loan with a good interest rate.
One of the biggest selling points of FHA loans is that, with a credit score of 580 or higher, you can make a down payment of as little as 3.5%.
PMG offers home loans that are specially designed to meet the needs of military servicemembers and veterans looking to buy or refinance a home.
VA loans are guaranteed by the Department of Veterans Affairs, which means that as a servicemember, you can qualify for lower interest rates and better loan terms than you might otherwise.
VA loans are not one size fits all.
PMG Home Loans offers a wide array of VA loans, including fixed-rate and adjustable-rate mortgages, as well as interest rate reduction refinance loans.
VA loans are guaranteed by the Department of Veterans Affairs, which means that as a servicemember, you can qualify for lower interest rates and better loan terms than you might otherwise.
VA loans are not one size fits all.
PMG Home Loans offers a wide array of VA loans, including fixed-rate and adjustable-rate mortgages, as well as interest rate reduction refinance loans.
Reviews
Be the first to review PMG Home Loans.
Write a Review
