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Fast Loan Approvals
Home Equity Loan
Please see 'Second Mortgage'
Conforming
Loans
The term "conforming" specifically refers to the loan amount.
FNMA (Federal National Mortgage Association, aka Fannie Mae) and FHLMC
(Federal Home Loan Mortgage Corporation, aka Freddie Mac) are the government
agencies that set this limit. The current loan limit is $417,000. If you
borrow an amount less than or equal to $417,000, then your loan amount
will be considered "conforming", since you will be conforming
to the FNMA and FHLMC guidelines. Please contact one of our professional
Loan Consultants to discuss your personal situation.
Jumbo
Loans
A jumbo loan is any loan amount greater than $417,000, which is the limit
set by FNMA (Federal National Mortgage Association, aka Fannie Mae) and
FHLMC (Federal Home Loan Mortgage Corporation, aka Freddie Mac). A "super
jumbo" loan is any loan amount greater than $650,000. The qualifying
guidelines for these mortgages can be strict, so be sure to contact one
of our professional Loan Consultants to discuss your personal situation.
Second
Mortgage
Second Mortgages are called by many different names. They are sometimes
called ‘Home Equity Loans’ or ‘Home Improvement Loans’.
Regardless of the name, the loan is characterized by a second lien on
your home and the rates are all the same for the different name variations.
Second mortgages can be used to get ‘cash in hand’
to use for any reason.
There are basically two types of Second Mortgage Loans: Closed End and
Open End.
Closed end Second Mortgages have an amortization period,
and generally, a fixed rate. They pay off in a preset term.
Open end Second Mortgages are often called Home Equity Lines of Credit
or HELOCs for short. They offer the ability to reuse the money as you
repay the line. It works just like a credit card except the rate of interest
is much lower. HELOC loans have become very
popular of late, especially when used as part of a down payment
for a purchase transaction. This is done to avoid the Private Mortgage
insurance monthly cost. Call one of our Loan consultants to discuss this
money saving feature.
For both types of Second Mortgages, the interest
you pay is usually tax deductible. To determine deductibility of mortgage
interest, contact your tax advisor.
Home
Improvement
Please see 'Second Mortgage'
Refinancing
If you would like to refinance your current mortgage, it would be our
pleasure to assist you. There are many reasons why it might be to your
benefit to refinance your mortgage. In most cases, it would make sense
to refinance if you could lower your rate, shorten the number of years
remaining on your term or take out some of your equity. Perhaps you have
an adjustable rate mortgage now, and would like the security of a fixed
rate mortgage. One of our professional Loan Consultants can help you by
showing you the cost to obtain a new mortgage and assess the overall savings
to you.
You can make an application to refinance in one
of three ways: 1) complete the on-line application through our secure
website, 2) via telephone (866.599.9800) with one of our professional
Loan Consultants, or 3) download and print the application and fax it
to our office at 913.663.1905. We want the application process to be fast,
easy, and convenient for you.
Debt
Consolidation
Debt Consolidation loans use the equity in your home to reduce your overall indebtedness. Generally, you can reduce you monthly payments significantly by using equity to pay off high interest debts such as credit cards and personal loans. This is an excellent way to ‘unlock’ the equity in your home and put it to work saving you money!
Bruised
Credit
If this is your situation, you must let us quote you a rate. We offer programs not found anywhere else. We have some of the best conforming rates for every situation. Call us today! We make it easy, quick and totally confidential–you will not be sorry. Call toll free 1-866-599-9800.
FHA Loans
An FHA loan is a loan for residential real estate guaranteed by the Department of Housing and Urban Development (HUD). FHA permits loans up to 97% of your purchase price and 97% of your homes value for a streamlined refinance or up to 95% of your homes value for a cash-out refinance. Loan limits are set by county in each state. Click the following link to determine the FHA loan limit for your area https://entp.hud.gov/idapp/html/hicostlook.cfm.
FHA loans permit flexible qualifying and rates that are comparable to conforming loan rates and fees. NASB offers Adjustable Rate and Fixed Rate loans in all 50 states.
VA Loans
VA loans (or Veteran Administration Loans) guaranteed by the Department of Veterans Affairs, to assist our Veterans of military service with 100% financing for the purchase or refinance of their homes. Veterans may obtain financing in all 50 states and our rates are comparable to conforming fixed rate loans.
For VA eligibility information, check the following link: http://www.homeloans.va.gov/eligibility.htm
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