While a 30 year fixed rate purchase is most common, a 10 year fixed rate purchase offers a higher monthly payment, but the loan is paid off nearly 3 times quicker.
Fixed-rate loans are available for 10, 12, 15, 20, or 30-year terms. What length makes the most sense for a customer’s situation? Here are some things to consider while deciding what makes the most sense:
Fannie Mae limits loans for a single-family home to $510,400. Jumbo mortgages are perfect for someone looking to purchase or refinance a home that requires a loan greater than the Fannie Mae maximum.
Jumbo mortgages are portfolio loans. These are not connected to any government agency or entity. Approvals for Jumbo mortgages focus on credit history, as well as a look into a customer’s income and assets.
RefiNow makes it easier for eligible homeowners earning at or below 80% area median income (AMI) to refinance at a lower interest rate and reduce their monthly mortgage payments.
RefiNow helps homeowners by:
To qualify for RefiNow, homeowners must have:
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Siwell, Inc. dba Capital Mortgage Services of Texas NMLS 149169
Licensed by the Department of Business Oversight under the California Residential Lending Act
Residential Mortgage Loan Originator: Siwell, Inc. dba Capital Mortgage Services of Texas
Organization NMLS ID: 149169
Residential Mortgage Loan Officer Royce Lewis NMLS ID: 151122
Residential Mortgage Loan Officer Linda Lewis NMLS ID: 151120
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