Deciding to purchase or refinance your home or an investment property can be a daunting and sometimes confusing task, we're here to help! To us there are no silly questions, we want you to feel comfortable in reaching out with any questions so you can make the most informed decisions for you and your family.
Your income, credit history, the size of your down payment, and your employment and residence history are all factors in how much you can borrow. Depending on circumstances, the amount you can borrow may exceed the amount you can comfortably afford - so it pays to borrow cautiously. Pre-qualification is an assessment of whether your debt to income ratios meet Fannie Mae, Freddie Mac, USDA, FHA or VA guidelines, (depending on what loan program best meets your needs).
Although there are different types of loan programs; Conventional, FHA, VA and USDA the difference between an adjustable rate mortgage and a fixed rate mortgage is whether the interest rate can change during the term of the mortgage. You should talk with us today about your specific situation and the type of loan that best meets your need and the needs of your family.