Despite the enormity of your home-buying decision and how complex the process appears on the surface, obtaining a home loan is not difficult if you choose LoanMerica as your lender.
At LoanMerica, we will work closely with you tailor a loan that meets your needs and aligns with your financial means and your credit. Your ability to make a substantial down payment is an important factor. The location of your home is an essential consideration, but so is your mortgage payment!
A standard rule of thumb for lenders, including LoanMerica, is that your total monthly mortgage payment, including principal, interest, insurance and property taxes, should not comprise more than 1/3 of your income. Simply put, missed house payments are not good for either the borrower or the lender, and we will do everything we can to help structure a loan that will help you avoid getting upside down on your payments.
Whether this is your first home purchase, you're moving up, buying a vacation home or investing in property, LoanMerica will lay out all your available options, including term lengths ranging from 10 to 30 years, fixed or adjustable loans, down payment amount, whatever makes the most sense for you current situation and into the future. We will even help you arrange a professional appraisal of the property's value.
We provide both fixed-rate and adjustable home loans:
Fixed-rate loan - your monthly payment remains the same throughout the term of the loan.
Adjustable-rate loan - the loan is fixed for a predetermined length of time, after which the rate (your monthly payment) will adjust up or down to the market index. If you don't qualify for a fixed-rate loan, an adjustable-rate loan might be just what you need to fulfill your dream of home ownership.
If you're looking for a mortgage loan for commercial property, LoanMerica is your go-to source for that too.
With the low interest rates currently in place and minimum credit scores coming down, why put off buying a home any longer? Give LoanMerica a call today at (800) 391-9310. We look forward to helping you experience the life-long benefits that only home ownership can bring.