FHA loans offer homeowners attractive interest rates with less demanding and more flexible requirements, such as credit scores, than conventional loans. Conventional loans continue to maintain their reputation of being a safe type mortgage loan and should be an option for borrowers with good or excellent credit. The VA home loan program provides qualified homeowners with the opportunity to take advantage of the numerous benefits they have earned through their military service.
There's a lot to consider when making the decision to refinance your home. With the help of our dedicated loan officers to our online information center, we're here to help answer your questions about your multiple home loan options. Whether you are looking to increase your cash flow or switch to a better interest rate, refinancing may be a desirable way to save money each month.
Changing the terms of your loan may give you the capability to pay off your mortgage sooner. By doing so, you can lower the total amount of interest you're paying on your home.
There's a lot to consider when making the decision to refinance your home. With the help of our dedicated loan officers to our online information center, we're here to help answer your questions about your multiple home loan options. Whether you are looking to increase your cash flow or switch to a better interest rate, refinancing may be a desirable way to save money each month.
Changing the terms of your loan may give you the capability to pay off your mortgage sooner. By doing so, you can lower the total amount of interest you're paying on your home.
Services
An FHA loan, a government-backed mortgage, is a mortgage insured by the Federal Housing Administration where borrowers pay for mortgage insurance, protecting the lender from a loss if the borrower defaults on the loan.
Each state has different limits so it's important to understand what is available for your FHA home loan.
FHA loans offer attractive interest rates with less demanding and more flexible requirements, such as credit scores, than conventional loans.
Minimum credit scores, typically above 500, do qualify a homeowner for an FHA loan but the score will determine a down payment to get a mortgage.
Each state has different limits so it's important to understand what is available for your FHA home loan.
FHA loans offer attractive interest rates with less demanding and more flexible requirements, such as credit scores, than conventional loans.
Minimum credit scores, typically above 500, do qualify a homeowner for an FHA loan but the score will determine a down payment to get a mortgage.
Borrowers must have a stable employment history or have worked for the same employer for 2 consecutive years.
Property must meet the minimum standards for an FHA loan.
If your home does not meet the established, you may be required to complete repairs before closing.
Borrowers must be two years out of bankruptcy and have re-established good credit.
If there are extenuating circumstances that caused your bankruptcy and you are out for more than one year, exceptions can be made.
Since an FHA loan is government-backed, it requires two kinds of mortgage insurance premiums: one paid in full upfront, or financed into the mortgage, and the other is a monthly payment.
Property must meet the minimum standards for an FHA loan.
If your home does not meet the established, you may be required to complete repairs before closing.
Borrowers must be two years out of bankruptcy and have re-established good credit.
If there are extenuating circumstances that caused your bankruptcy and you are out for more than one year, exceptions can be made.
Since an FHA loan is government-backed, it requires two kinds of mortgage insurance premiums: one paid in full upfront, or financed into the mortgage, and the other is a monthly payment.
Refinancing with an FHA loan can be an effective way to keep using the equity in your house to your benefit.
With an FHA Simple Refinance, homeowners can go from their current FHA loan into a new one, a fixed-rate or ARM.
This straightforward refinance is a no cash-out product that does require credit, income, and asset quantification to ensure the borrower meets the loan requirements.
There are 2 other FHA refinance loan programs to consider when looking to lower interest rates; the Streamline Refinance and the FHA Cash-Out Refinance.
With an FHA Simple Refinance, homeowners can go from their current FHA loan into a new one, a fixed-rate or ARM.
This straightforward refinance is a no cash-out product that does require credit, income, and asset quantification to ensure the borrower meets the loan requirements.
There are 2 other FHA refinance loan programs to consider when looking to lower interest rates; the Streamline Refinance and the FHA Cash-Out Refinance.
The VA loan is a mortgage loan guaranteed by the U.S. Department of Veterans Affairs (VA), issued by participating approved lenders.
This program is for American veterans, military members currently serving, reservists and select surviving spouses.
The VA itself does not originate loans, but it does set the rules for who may qualify, minimum guidelines and requirements for the home loan program.
The VA home loan program is to provide home financing for eligible veterans and to help veterans purchase properties with no down payment.
This program is for American veterans, military members currently serving, reservists and select surviving spouses.
The VA itself does not originate loans, but it does set the rules for who may qualify, minimum guidelines and requirements for the home loan program.
The VA home loan program is to provide home financing for eligible veterans and to help veterans purchase properties with no down payment.
A VA Purchase Loan can help a qualified borrower purchase a home at a competitive rate with multiple financing options up to $1,200,000 without putting any money down.
The federally-backed VA loan has distinct advantages over traditional loans and with the 2017 VA loan limits, borrowers in high-cost counties may be able to purchase homes above the limit without a down payment.
Qualified borrowers can also take advantage of lower interest rates and decrease their monthly mortgage payment by refinancing with a VA loan.
The federally-backed VA loan has distinct advantages over traditional loans and with the 2017 VA loan limits, borrowers in high-cost counties may be able to purchase homes above the limit without a down payment.
Qualified borrowers can also take advantage of lower interest rates and decrease their monthly mortgage payment by refinancing with a VA loan.
Reviews
Be the first to review Mid-Continent Funding.
Write a Review
