Your SlideShare is downloading. ×
  • Like
Choosing a Home Loan - Which Mortgage is Right for You?
Upcoming SlideShare
Loading in...5

Thanks for flagging this SlideShare!

Oops! An error has occurred.


Now you can save presentations on your phone or tablet

Available for both IPhone and Android

Text the download link to your phone

Standard text messaging rates apply

Choosing a Home Loan - Which Mortgage is Right for You?


Fixed-rate mortgage, Jumbo Mortgage, FHA Loans, VA Loans for veterans - there are tons of mortgages available for buyers, but which loan is right for you? We can

Fixed-rate mortgage, Jumbo Mortgage, FHA Loans, VA Loans for veterans - there are tons of mortgages available for buyers, but which loan is right for you? We can

Published in Economy & Finance , Business
  • Full Name Full Name Comment goes here.
    Are you sure you want to
    Your message goes here
    Be the first to comment
    Be the first to like this
No Downloads


Total Views
On SlideShare
From Embeds
Number of Embeds



Embeds 0

No embeds

Report content

Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

    No notes for slide


  • 1. Choosing the right loan option is critical during the purchase, refinance or renovation process. So what types of things should I consider? • How quickly do I want to pay off my loan? • Do I want fixed monthly payments? • How much can I afford for a down payment? • Am I eligible to receive Veteran benefits? • How much cash do I want to pull out?
  • 2. Home Loan Options There are many types of home loans, here is a list of the most common loans today: • Fixed Rate Loans •Adjustable Rate Loans •FHA Loans •Cash Out Loans •VA Loans To see which loan is right for you, visit:
  • 3. Fixed Rate Loans Fixed Rate Loans are most often taken in 15 or 30 year terms. 15 Year Fixed Rate Loans 30 Year Fixed Rate Loans Interest Rates Never Increase Interest Rates Never Increase Interest Rates are Lower Interest Rates are Higher Payments are Higher Payments are Lower Build Equity Quickly Build Equity Slowly Repay Loan Faster Repay Loan Slower Popular among people repeat buyers who can afford a higher down payment or want to avoid paying a mortgage during retirement years. Popular among first time homebuyers and younger people who want a smaller down payment.
  • 4. Adjustable Rate Mortgages Adjustable Rate Mortgages allow you to have a lower payment than a fixed rate loan. •Adjustable rate mortgage remained fixed for a period of time, typically between 3-10 years, and then the rate changes according to the current index. •Adjustable Rate Mortgages are best for people who need lower interest rates and payments, who relocate frequently, who need investment property loans, who plan to resell after a few years or who have families and will need a loan to buy a larger home down the road.
  • 5. FHA Loans FHA Loans are for people who traditionally struggle to find home financing. • FHA loans allow you to buy a home with a lower down payment. •These loans are popular among first-time homebuyers and allow buyers to put as little as 3.5 percent down. •FHA loans allow lower FICO credit scores and lower closing costs. •Gifts can be used toward the home down payment. •FHA loans can also be used for refinancing to upgrade your home, avoid foreclosure or pull cash out from the equity in your home.
  • 6. Cash Out Loans Cash Out Loans are great for people looking to pull cash out of their homes for major purchases or to consolidate debt. •Cash Out refinancing allows you to use equity from your home for other major life events such as paying medical bills, college tuition, taxes or buying a vacation home. •Cash Out Loan benefits include: –Lower interest rates in comparison to other loans. –The ability to eliminate high interest and consolidate debt into one, lower monthly payment. –Tax benefits because high interest debt can be rolled into a mortgage payment that collects tax deductible interest.
  • 7. VA Loans Designed to help active duty military and veterans qualify for home ownership, the VA Home Loan is a mortgage guaranteed by the U.S. Department of Veteran Affairs that features easy home financing options. •No down payment required •Adjustable & fixed rate mortgage options •No monthly mortgage insurance premiums •Right to prepay loan without penalty •Ability to finance the VA funding fee •100% Cash Out option
  • 8. Home Loan Options Choosing the Right Loan for You Learn More at