Mortgage Lender of America
Home buyers
Mortgage Lender of America is qualified to serve home buyers as our originators have diverse qualifications in the area of mortgages, real estate, and finance. As a result, we are able to get our clients the best home mortgage for their.
Homeowners
Homeowners have benefited greatly from refinancing their homes. Many homeowners are saving thousands of dollars on their mortgage, and some have taken cash out of homes while also lowering the number of years they’re paying for their home.
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FHA LOANS
A FHA loan also know as “Federal Housing Administration” is a home mortgage that is insured by the government. FHA mortgage loans doesn’t need as much minimum down payment as most conventional loans. Borrowers may also have lower credit score than what is normally required on most other loan types.
ADJUSTABLE RATE MORTGAGE
ARM loans also known as “Adjustable rate mortgages “are normally named after the length of time the interest rate will stay fixed and also how often the rate is subject to adjustment up or down. An example of this would be 5y/6m arm, now lets brake that down 5y stands for 5 year duration the interest rate is fixed. Then the 6m means the interest rate can be subject to adjustment one time every 6 months.
CONVENTIONAL MORTGAGE
A conventional mortgage/loan is a loan that a homebuyer can get that isn’t secured or offered by any government entity. A conventional mortgage/loan is often times compared to FHA loan, that are more geared to low income families or buyers with a lower credit scores and little to no savings to give access to a mortgage loan.
MORTGAGE REFINANCE
There are several reasons you may want to refinance, including lowering your payment, lowering your APR and shortening your loan term or getting cash from your homes equity.
