Media Uncovers Stress-Free Mortgage Program
First thing that faces everyone looking to buy or refinance a home are the multitude of loan options available today, i.e.; Adjustable, 30--Year Fixed, 15-year fixed, Interest Only, Minimum Payment, and so on. To say it can be overwhelming is an understatement! Moreover, the biggest worry most people share about buying a home is how they will be able to meet other financial obligations.
For once, buyers have the best of all worlds available to them and that is the power to choose how much they want to pay toward their loan any given month.
Gavin Fenske, President, Great Financial Mortgage, explained to ABC7 Eyewitness News how a new program, "Pick-A-Payment," actually can relieve the pressure of making that set mortgage payment each month.
Fenske describes the Pick-A-Payment Loan as simply four different options available to the customer at one time:
30-year fixed, 15-year fixed, Interest only and a Minimum Payment Plan.
"Simply," he explains, "the buyer has the power and flexibility to decide when and which one of the four to choose from on any given month depending on their financial situation at that time." For example, a client might choose a lower initial monthly payment in order to improve their cash flow with the option - minimum payment plan.
The beauty of this loan is the interest start rate can be below 2%, is guaranteed up to 5 years and the increases are no more than 7.5% of the original payment.
Take a $300,000 loan with a start rate of 1.95%.
The first year monthly payment is $1101 ? P.I.
The second year the monthly payment increases $83 making the payment $1184, third year by $89 making it $1273 and so on to the fifth year.
But should financial concerns ease during the months and the buyer wishes to increase payments to the loan, they can choose from the other three options listed above.
The same is true in the reverse.
If the borrower needs more cash and they have the Pick-A-Payment Loan, they can choose the minimum payment.
Why stress each month to make that payment or be forced to refinance three times in a year?
Pick your payment!About Great Financial Mortgage:Great Financial Mortgage is based in Fullerton, California. A top originator of mortgage loans, Great Financial Mortgage offers a wide range of home lending services to homeowners and prospective buyers throughout the state of California via person-to-person attention and its website, www.greatfinancialmortgage.com.
This coupled with their unique ability to keep ahead of the fast-moving real estate marketplace enables Great Financial Mortgage to exceed client expectations by making their dream a quick realty.For more information contact Great Financial Mortgage at (866) 553-1113 or log onto www.greatfinancialmortgage.com.For media informationcontact: Prime L.A. Public Relationswww.primela.com(818) 995-1290.
Home Loan For People With Bad Credit
Getting a home loan with bad credit has actually never been easier than it is today. Here are some tips to help improve your chances of success:Find A Good Real Estate Deal ? If you can find a property that has some equity in it when you purchase it, you may have an easier time getting financing on that property. To the lender it may be almost as good as if you had some kind of down payment on the property. Some lenders will consider the properties loan to value ratio when they consider the loan. Talk to your mortgage broker and see if this factor could help you get qualified.Try Creative Financing ? See if the seller would be willing to carry back a second mortgage on the home.
This is where you set up a contract or agreement with the seller that you will pay them monthly payments, including interest of, let's say, $150/mo on $10,000 dollars of the price of the property, as a second mortgage. Then, to make it nice for the seller, perhaps put in the agreement that the entire amount...
Home Loan For People With Bad Credit
Refinance > Home Loan For People With Bad Credit
Refinance Your Home Mortgage Online
The largest financial obligation most people ever take on couldn't escape the reach of the Internet. Home mortgage loans originated online comprise an integral part of one of the largest and most profitable aspects of the banking industry. Unlike many shifts in big business recently, this change actually seems to greatly benefit consumers by increasing competition and placing more financial control in the hands of homeowners.To finance or refinance a home in the olden days (before the Internet), you needed to find a mortgage lender, broker, or banker who wanted to make a loan for you. Though mortgage lenders always wanted to make good loans, the process of gathering information to compare interest rates, points, and loan programs among lenders presented a tedious task for borrowers. Without a centralized information source for mortgage rates, loan programs and financial advice, most people just called a few banks and went with the lender that seemed to offer the lowest rate for the least...
Refinance Your Home Mortgage Online
Refinance > Refinance Your Home Mortgage Online
Mortgage Brokers Expected to see Significant Decline in 2006 Originations
San Diego, CA (ContentDesk) January 27, 2006 -- In 2006, originations are expected to decline by more than 20 percent from last years level of 2.79 trillion, according to the Mortgage Bankers Association (MBA). This drastic decrease means that mortgage brokers need to take drastic measures to insure success. This month, Mortgage Marketing Specialists has introduced several essential tools to accomplish what mortgage brokers need in order to stay competitive.
Mortgage Marketing Specialists is introducing Locals Only, a brand new tool providing mortgage brokers with the opportunity to put their business in front of more than 60 million unique visitors per month without spending the high costs of advertising to the local markets. Mortgage Marketing Specialists has formed vital partnerships with SBCs YellowPages.com and Verizons SuperPages.com to make this happen.
This partnership will get their clients listed on hundreds of Yellow Pages directories across the Internet,...
Mortgage Brokers Expected to see Significant Decline in 2006 Originations
Refinance > Mortgage Brokers Expected to see Significant Decline in 2006 Originations
Home Loan Refinancing Executive Offers Tips to Avoid Getting Ripped Off, Even with Low Credit Scores
Irvine, CA (ContentDesk) July 24, 2006 -- The last several years have seen interest rates hit all time lows and real estate values steadily soar. Consequently, the home loan refinancing market has seen plenty of action. Even though mortgage rates have started to rise again, low mortgage rates are still the motivating force that drives most homeowners with good credit to refinance their home loan.