Mortgage Lender of America Location Information
Mortgage Lender of America
Address: 309 S State St Dover, DE 19901
Phone: +1 888-908-0990
Mortgage Services Available At Our Dover, DE Office
FHA
What is FHA? FHA is short for Federal Housing Administration. FHA provides mortgage insurance on mortgage loans made by approved lenders.
FHA insures these loans on single family or multi-family homes in the United States.
FHA was created in 1934 and is the worlds largest insurer of residential mortgages. FHA is insuring millions of homes since it was created.
FHA mortgage is offered at our Dover, DE office.
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CONVENTIONAL
What is a Conventional loan? Conventional loan means it isn’t part of any specific government program.
Conventional loans can typically cost you less than a FHA or other government program but often can be a little more difficult to get.
Most conventional mortgage loans may also be a conforming loans, simply meaning that they meet requirements for Freddie Mac or Fannie Mae.
Conventional mortgage is offered at our Dover, DE office.
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FIXED RATE
A fixed rate mortgages will have the same interest rate over the whole term of your loan.
This means your monthly mortgage payment (loan principal payment and interest cost) will be the same though out the full term of you loan.
Fixed rate mortgage loans normally come have a terms of 30 years and as low as 15 years, on occasions flexible term lengths can be applied.
Fixed Rate mortgage is offered at our Dover, DE office.
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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.
Mortgage refinance can be a great tool to use for large home improvement, You can refinance to pull out equity from your home to cover the the cost.
mortgage refinance is offered at our Dover, DE office.
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ADJUSTABLE RATE
Adjustable rate mortgages also called “ARMs” have interest rates that do change over time. Normally a ARM loan, you will get a lower fixed introductory rate for a set period.
After fixed introductory period ends your rate will change, up or down, at predetermined intervals for the remainder of the loan term.
For an example A 5/6 ARM has a fixed rate for the first five years. Then rate can go up or down based on economic conditions every six months.
Adjustable Rate mortgage is offered at our Dover, DE office.
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JUMBO
Jumbo mortgage loans are are a type of home loan in an amount that exceed FHFA’s conforming loan limits.
Now in 2024 this means any mortgage loan over $766,550, or $1,149,825 in higher cost regains. Bigger loans are not eligible to be purchased by the GSEs, they can be a more at risk.
A higher credit score is required most of the time higher then 700. Higher down payment is required too, Most of the time 10% to 20% of the full loan amount.
Jumbo mortgage is offered at our Dover, DE office.
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Mortgage Lender of America Store Location Information
Mortgage Lender of America - Mortgage Lender
309 S State St
Dover, DE 19901 United States
Telephone: +1 888-908-0990
contact@mortgagelenderofamerica.com
Monday through Sunday 8:00am - 6:30pm
Currency Accepted: USD
Accepted Payment Methods:
Debt Card, Credit Card, Check, Cash, Money Order
Area Served: Dover, DE
Price Range: $ - $$$
To Get Started Today
Stop by our office in Dover, DE today or click the button below to get started online. Our mortgage lender associates are here to help.
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