We pride ourselves on offering some of the lowest rates nationwide and make the loan process simple, straightforward and fast for borrowers seeking a mortgage in the Elk Grove area. Whether you are first time home buyer, purchasing your dream home, refinancing an outstanding loan, or consolidating debt, the highly experienced team of mortgage brokers here can help you take that first step toward a financial solution.
The ArmCor Home Loans team is committed to providing clients with the highest quality financial services combined with the lowest rates available in your area. The outstanding mortgage professionals here 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, the highly experienced team of loan officers here can help you find the right loan program at the lowest rate no matter what your needs are.
The ArmCor Home Loans team is committed to providing clients with the highest quality financial services combined with the lowest rates available in your area. The outstanding mortgage professionals here 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, the highly experienced team of loan officers here can help you find the right loan program at the lowest rate no matter what your needs are.
Services
A Mortgage Refinance is when a borrower gets a better interested rate and loan term.
There are several pros and cons of refinancing a mortgage and we can help determine if this is right for you.
A borrower can achieve lower monthly payments and if they qualify, use their equity to obtain money that can be spent by the borrower.
A borrower may have a higher loan balance despite the lower interest rate and lower monthly payment.
Lenders generally have limits to how much equity you can pull from your house, commonly capped at 70% of the current value.
There are several pros and cons of refinancing a mortgage and we can help determine if this is right for you.
A borrower can achieve lower monthly payments and if they qualify, use their equity to obtain money that can be spent by the borrower.
A borrower may have a higher loan balance despite the lower interest rate and lower monthly payment.
Lenders generally have limits to how much equity you can pull from your house, commonly capped at 70% of the current value.
Conventional loans are mortgage loans offered by non-government sponsored lenders.
A conventional, or conforming, mortgage adheres to the guidelines set by Fannie Mae and Freddie Mac.
It may have either a fixed or adjustable rate.
Conventional loans offer flexible paying options.
Other than the typical 30 year term, borrowers can select 15 or 20 year terms if they want to pay off their loan sooner.
Additionaly, along with the usual fixed rate, conventional loans offer adjustable- rates.
If you are someone who is planning to live at your home for approximately 3-10 years, adjustable rates may help you save money.
A conventional, or conforming, mortgage adheres to the guidelines set by Fannie Mae and Freddie Mac.
It may have either a fixed or adjustable rate.
Conventional loans offer flexible paying options.
Other than the typical 30 year term, borrowers can select 15 or 20 year terms if they want to pay off their loan sooner.
Additionaly, along with the usual fixed rate, conventional loans offer adjustable- rates.
If you are someone who is planning to live at your home for approximately 3-10 years, adjustable rates may help you save money.
FHA loans are an attractive option, especially for first-time homeowners because it is insured by the Federal Housing Administration (FHA).
Primarily, the federal government insures loans for FHA-approved lenders in order to reduce their risk of loss if a borrower defaults on their mortgage payments.
Typically the borrower can be approved with 3.5% down vs 20% that is required on other loan programs.
Also with FHA loans, properties must meet certain health and saftey standards, this being more stricter.
Primarily, the federal government insures loans for FHA-approved lenders in order to reduce their risk of loss if a borrower defaults on their mortgage payments.
Typically the borrower can be approved with 3.5% down vs 20% that is required on other loan programs.
Also with FHA loans, properties must meet certain health and saftey standards, this being more stricter.
A VA Loan is Designed to offer long-term financing to veterans.
VA mortgage loans are issued by federally qualified lenders and are guaranteed by the U.S. Veterans Administration.
The VA determines eligibility and issues a certificate to qualifying applicants to submit to their mortgage lender of choice.
It is generally easier to qualify for a VA loan than conventional loans.
VA Loans are designed to reduce the risk for lenders.
If for some reason a borrower defaults on a mortgage, the government will pay a portion of that loan to the lender.
VA mortgage loans are issued by federally qualified lenders and are guaranteed by the U.S. Veterans Administration.
The VA determines eligibility and issues a certificate to qualifying applicants to submit to their mortgage lender of choice.
It is generally easier to qualify for a VA loan than conventional loans.
VA Loans are designed to reduce the risk for lenders.
If for some reason a borrower defaults on a mortgage, the government will pay a portion of that loan to the lender.
Jumbo Loans exceed the maximum loan amounts established by Fannie Mae and Freddie Mac conventional loan limits.
Rates on jumbo loans are typically higher than conforming loans.
They are typically used to buy more expensive homes and high-end custom construction homes.
Typically Jumbo Loans require a higher down payment than traditional loans.
Not everyone meets the criteria for a Jumbo Loan.
Credit score requirements may need to be higher than 700 at least.
Generally, most lenders require a 20% down payment.
Rates on jumbo loans are typically higher than conforming loans.
They are typically used to buy more expensive homes and high-end custom construction homes.
Typically Jumbo Loans require a higher down payment than traditional loans.
Not everyone meets the criteria for a Jumbo Loan.
Credit score requirements may need to be higher than 700 at least.
Generally, most lenders require a 20% down payment.
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