Use these different mortgage calculator tools below to evaluate your financing options. For a lender referral, or for any questions about the mortgage market, contact me. Mortgages are different than they were 5 years ago, that’s the greatest problem and opportunity in today’s market. Problem, because some people will not qualify for loans, and opportunity, because those who do, can get loans at the lowest rates ever.
While my lenders can tell you how much you can borrow and how much it will cost, I can best help you decide which loan products make the most sense for you.
Owner occupied loans can be obtained with as little as 3.5% down through the FHA program. For FHA lending programs, click here. Investment properties generally require at least 25% down, although the Homepath program allows you to finance certain properties with 10% down.
Any loan under 20% down will carry mortgage insurance, some of which can be removed from your loan after only 3 years.
There are also a wider range of 3, 5 and 7 year adjustable loan programs, as well as interest-only loans.
For more information, contact me.