General Mortgage Information
Did you know that you have several choices of loan programs when deciding to finance your
home or future home? Depending on your plan and/or need, there are Fixed, Variable/Adjustable
(Hybrid/Option Arms), Interest Only, Balloon Payment, FHA, VA loan program you can choose
from. Joseph Gilana would be happy to spend time with you to explain each loan programs’
advantages and importance base on your goal and need.
What you should know
Did you know that mortgage lenders base their decision on what home loan interest rates they
offer on the borrowers' credit record/report and financial ratios [Loan-to-Value (LTV),
Cumulative/Combined Loan To Value (CLTV) and Debt-to-Income (DTI)]? What this means is
the better credit report and the lower financial ratios you have, the better home loan interest rate
you could get and the better chance you would be approve for a mortgage loan.
LINKS FOR MORTGAGE BORROWERS
"Important Things to Know"
Better Credit Report: "Building a Better Credit Report" by the Federal Trade Commission
Mortgage Lock-Ins: "A Consumer's Guide to Mortgage Lock-Ins" by The Federal Reserve Board
Adjustable Rate Mortgages (ARM): "Consumer Handbook on ARM" by The FRB
Equity Lines of Credit: "What you should know about Home Equity Lines of Credit" by The FRB
Yield Spread Premium (YSP): What is YSP? Meaning from Wikipedia, The Free Encyclopedia
Average Mortgage Rates: "Primary Mortgage Market Survey SM, Current Weekly Survey" by
"Please Read the Notices/Disclaimers for Each of the Above Listed Websites/Links"
INFO FOR MORTGAGE BORROWERS
|Real Estate Broker / Realtor®
"Providing Exemplary Service."
"As a guide to owning a home and to
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education are key home and financial