The only thing standing between you and your dream home is a home mortgage. Now is the time for you to call ProMax Home mortgage Solutions, Inc. Our years of experience and our considerable resources allow us to customized fit a mortgage loan program to you. The ideal programs … the right interest rates … the right payments … That’s how our group of specialists have helped make dreams become a reality for hundreds of pleased clients. Take an appearance around, then select up the phone and call us. ProMax Mortgage Solutions, Inc. .407-647-3377.
Any loan that is not government insured is thought about a conventional loan. FNMA, FHLMC & Subprime loan providers offer standard loan programs with loan to values as high as 100 % and on celebration even going beyond 100 %. In the event the borrower invests less than a 20 % down payment these standard loans require personal home mortgage insurance. PMI companies are separate from premiums and loan providers are based on levels of risk such as LTV and credit report. PMI (private home mortgage insurance coverage) protection is essential to the lenders in case the borrower defaults on the loan. Some borrowers could be qualified for home mortgage loan programs that require less than 20 % down payment without any home mortgage insurance. We achieve this with combination loans with a second and very first home loan or with lender funded home loan insurance. They have slightly greater rates however eliminate the home mortgage insurance coverage requirement. Call ProMax Home mortgage Solutions, Inc. today to find out more about our different loan programs.
Government insured loans are offered with government backed home mortgage insurance. FHA (Federal Housing Administration) loans offer property buyers an opportunity to acquire a house with less cash “out of pocket” and more liberal underwriting requirements. Traditionally, FHA loans accommodate first time home buyers, however, with the enhanced loan limits, property buyers of all levels could consider an FHA loan. FHA loans need the presence of mortgage insurance called “M.I.P.” for mortgage insurance premium. Generally, MIP is charged as percentage of the loan amount, which is financed into the loan and as part of the monthly payment called regular monthly home loan insurance coverage. Unlike traditional loans, all FHA loans need MIP despite the loan to value. The other government loan is the VA loan. VA (Veterans Administration) loans are readily available veterans who have actually established entitlement. The VA loans do not need a down payment and require a financing charge. The funding fee varies from 2 % to 3 % of the loan quantity. Reverse Mortgages are assisting older Americans across the country attain higher monetary security. It is a simple and safe way for senior citizens to turn their home’s equity into an extra source of income to satisfy any financial need. For information about Florida Reverse Mortgages, please Call Eric Christensen with Reverse Mortgage Florida Dot Net at (877) 784-7375
All cases are different and need a seasoned loan officer to assist you overcome all the readily available choices. Call ProMax Home loan Solutions, Inc. today at 407-647-3377.
Any loan that is not government insured is thought about a conventional loan. FNMA, FHLMC & Subprime lenders provide conventional loan programs with loan to values as high as 100 % and on event even going beyond 100 %. Typically, FHA loans cater to very first time homebuyers, nevertheless, with the enhanced loan limits, property buyers of all levels could think about an FHA loan. Usually, MIP is charged as portion of the loan quantity, which is funded into the loan and as part of the regular monthly payment called monthly home loan insurance. Unlike standard loans, all FHA loans need MIP regardless of the loan to value.