With Prestige Mortgage of Louisiana LLC, the loan approval process has never been as easy. A variety of secure and convenient application options are offered. These are individuals that Prestige Mortgage of Louisiana LLC work with and trust to provide you with the same level of service you have come to expect here. See who we recommend! The team here is committed to providing our clients with the highest quality financial services combined with the lowest rates available in your area.
This Free Purchase Assistant has been designed to help narrow down options based on your individual needs. It's quick, it's easy, and the more questions you answer - the more accurate your results.
This Free Purchase Assistant has been designed to help narrow down options based on your individual needs. It's quick, it's easy, and the more questions you answer - the more accurate your results.
Services
Prestige Mortgage of Louisiana LLC. is committed to providing our clients with the highest quality financial services combined with the lowest costs and rates available in the area.
Our outstanding mortgage professionals will work with you one on one to ensure that you get a financial solution that is tailored specifically to meet your financing needs.
Whether you are purchasing your dream home, refinancing an outstanding loan, or consolidating debt, our highly experienced team of loan officers can help you find the right loan program at the lowest rate no matter what your needs are.
Our outstanding mortgage professionals will work with you one on one to ensure that you get a financial solution that is tailored specifically to meet your financing needs.
Whether you are purchasing your dream home, refinancing an outstanding loan, or consolidating debt, our highly experienced team of loan officers can help you find the right loan program at the lowest rate no matter what your needs are.
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 risk 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 risk future interest rate fluctuations.
Conforming Loans: 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.
Construction Loans- Our construction loan is a two time close loan which means we close you with the interim bank first and then the permanent lender later once the home is 100% complete.
Down payment on these loans is as little as 10% down or more in some cases and land equity may be considered.
There are two sets of closing costs but its not double as the second closing is usually just the lenders underwriting fee, title fees and setting up the escrow accounts.
Regular purchase money or refinance mortgages are based on Loan to Value Ratio (LTV).
Down payment on these loans is as little as 10% down or more in some cases and land equity may be considered.
There are two sets of closing costs but its not double as the second closing is usually just the lenders underwriting fee, title fees and setting up the escrow accounts.
Regular purchase money or refinance mortgages are based on Loan to Value Ratio (LTV).
FHA loans-Low down payment of 3.5% with credit scores of 500 or better are required.
Scores of 660 gets you better rates for this program and down payment assistance may be possible in Lafayette parish when funds are available.
Scores under 580, down to 500, do require 10% down payment and are done on a case by case basis.
The lender will require a reasonable explanation due to the lower credit scores to explain how it was an extenuating circumstance that should not happen again.
Scores of 580-640 can be done with 3.5% down but again case by case with supporting factors and things that would help to get the loan approved would be like good rental history or proof to show the ability to save.
Scores of 660 gets you better rates for this program and down payment assistance may be possible in Lafayette parish when funds are available.
Scores under 580, down to 500, do require 10% down payment and are done on a case by case basis.
The lender will require a reasonable explanation due to the lower credit scores to explain how it was an extenuating circumstance that should not happen again.
Scores of 580-640 can be done with 3.5% down but again case by case with supporting factors and things that would help to get the loan approved would be like good rental history or proof to show the ability to save.
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