home finance, nebraska NE

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HYBRID ARM SAVINGS What kind of savings are we looking at here? A borrower with a 7/1 ARM at 5.5% will save about $7,000 over the first seven years while paying off more principle compared with a 30-year fixed at mortgage 6.5%.

By switching to a fixed-rate mortgage, youll enjoy the stability of a low, fixed rate that stays low.

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Loans for borrowers with less than perfect credit.

Changing from an adjustable rate mortgage to a fixed brings advantages. ARMs fluctuate with changes in the market rates. Your monthly payments are likely to go up as interest rates increase.

Refinancing your mortgage when rates are down could save you hundreds of dollars every month and thousands of dollars over the life of your loan.

Overview There are home loans for every type of home buyer. The goal here is to match the benefits of a specific loan type with your goals for owning a home. Heres a chart to start you thinking.

Learn which loan fits your needs with our Purchase, Refinance, and Home Equity loan tools.

In most cases, the principal residential mortgage provides you with 75% of the total cost of the home; the interest rate is more favorable to you as opposed to the rate you may get for your second or third mortgage; the lien, the legal right or claim upon your property during the life of the mortgage, stays with the principal residential mortgage company.

Escrow is the holding of money or documents by a neutral third party prior to closing. It can also be an account held by the lender (or servicer) into which a homeowner pays money for taxes and insurance.

Reduce interest rate charges by taking advantage of the low mortgage rates that are being offered.

Your current earnings: Your down payment. The down payment is the up-front cash youll pay toward the purchase of your home, reducing the amount of the loan amount that needs to be financed. Generally, the larger the down payment, the lower your monthly payment. With a conventional loan, you can put down as little as 3%, although if your down payment is less than 20% your monthly payments will increase because you must also purchase private mortgage insurance.

Now that might sound frightening if youve ever lived in an era when interest rates shot up dramatically. But Countrywides ARMs have built-in features that reduce the risk your rate will ever go too high.

The interest rate is the cost of borrowing money expressed as a percentage rate. Interest rates can change because of market conditions.

Loans Designed for Avoiding Traditional Private Mortgage Insurance (PMI)