Topeka KS Home Loan

Are you waiting for your house to sell?  Or waiting for a bonus or inheritance and can’t wait any longer to buy that “dream” home?!   An “Interest Only Loan” just might be for you!  Offered on 10/20 and 15/15 terms.  This means interest only payments for the initial 10 or 15 years followed by a fully amortized 20 or 15 year loan.  This product is excellent for those who anticipate large sums of money to put down on their principal balance within the next 10-15 years.  There are no pre-payment penalties and they are offered on fixed rates for the full 30 year term. 

 

Say Goodbye to PMI with MI Free Loans

“MI Free” stands for Mortgage Insurance Free.  This product is for those borrowers who have great credit and don’t want to pay a “premium” for their decision to not put 20% down on their loan.  It’s ONE loan, at a fixed rate and can even be used with our 100% financing options! 

 

Bi-Weekly Mortgage

Are you one of the “lucky” ones that get paid every two weeks?  If so, this loan is right up your alley!  With absolutely NO set-up or maintenance fees, you can pay half your monthly mortgage payment every 14 days.  The good news doesn’t stop there…we’ll even apply each ½ payment on the SAME DAY we receive it from you!  AND, set it up so that they’re in sync with your pay periods!  This is a TRUE bi-weekly loan!  You can’t afford not to save money this easily!

 

FHA and VA Loans

The Federal Housing Administration (FHA), offers loans for low-to-moderate-income home buyers. FHA loans have low downpayments, which typically run around 3 percent, and have relatively easy requirements. FHA mortgages have no income restrictions and even those with lower credit scores may be considered. Past bankruptcy does not necessarily disqualify borrowers from using this program!

In addition, the Department of Veterans Affairs (VA) offers a zero-down mortgage program. To take advantage of this program, borrowers need to be among those listed as veterans and service personnel in the U.S. military. One of the biggest benefits of this program is that it eliminates the need for private mortgage insurance!

Adjustable Rate Loans

With a fixed-rate mortgage, the interest rate stays the same for the life of the loan. But with an Adjustable Rate Mortgage (ARM), the interest rate changes periodically, and is typically tied to an index, and payments go up or down accordingly. Generally speaking, lenders charge a lower initial interest rate for the ARM than for the fixed rate mortgage. If you are expecting interest rates to decrease in the future, or if you are trying to maximize your purchase power today knowing your income will rise in the future, then this loan may be right for you. Also used when you only expect to be in the home a short time.

Find The Ideal Loan for YOU!

Let me help you find the program that's right for you. Call or email me and get started today!

 

 For a FREE pre-approval, current interest rates and loan programs, call or email Terra Today!