Home Loan Mortgage Lender

07/11/2022

Now is a Good Time to Refinance Your Mortgage……

If you’re looking to payoff your current mortgage quicker with a shorter term
If you want to consolidate monthly debt and have more cash monthly..
If you want to Replace, Refurbish or Redo your home…
If you want to eliminate mortgage insurance…
If you want to build up your emergency cash reserves…
Call Home Loan Mortgage Lender to Refinance your Home.

06/06/2022

3.5% Down Payment. Competitive Interest Rates. Flexible Credit Guidelines.
We have the Best Rates. Contact us for a Free Consultation.

04/13/2022

11/16/2021

# LOWEST 30 YEAR FIXED INTEREST RATES.

08/31/2021

Zero Percent Down Payment

02/23/2021

Call for a free consultation and estimate.

02/23/2021

Refinancing is the replacement of an existing debt obligation with another debt obligation under different more beneficial terms. Refinancing a mortgage is the re-issuing of a mortgage loan debt with a new mortgage loan that has a benefit for the Consumer. The refinanced new loan will either have a lower interest rate or allow the homeowner to remove cash from the value of the home to use at his/her discretion. Homeowners use a Refinance to pay down debt or engage in home improvements that will increase the home’s value. Many instances the Cash-out is utilized to finance the children’s tuition or the family’s desire for a 2nd home. The 2nd home is normally a vacation home.

Rates on a Refinance vary from a primary home purchase. Today’s Rates for Refinance are in the upper 2% to mid 3%. The variance in rates is caused by an individual’s FICO SCORE, the amount of debt the person has and the amount of assets/equity in the home and the individual’s income.

Call For your free Refinance Consultation today. Best Mortgage Refinance Rates .843-855-5454. www.homeloanmortgagelender.com

02/15/2021

Home Loan Mortgage Lender is happy to announce that during the year 2020 despite the pandemic, and the multitude of challenges Americans all over the United States Dealt with we were able to continue our mission to help families buy their dream homes. We help achieve the American Dream.

Home Loan Mortgage Lender helped 258 families purchase HOMES in 2020.

Call Home Loan Mortgage Lender and let us help you Achieve your dream of Home Ownership. 843-855-5454

02/02/2021

https://www.homeloanmortgagelender.com/2021/02/02/weather-and-your-home/

Weather is the state of the atmosphere, describing for example the degree to which it is hot or cold, wet or dry, calm or stormy, clear or cloudy. On Earth, most weather phenomena occur in the lowest level of the planet's atmosphere, the troposphere, just below the stratosphere. The various weather....

01/28/2021

10/17/2019

Divorce and Home Purchase

Obtaining a mortgage after a divorce can be complicated. This is because you and your soon-to-be ex-spouse most likely have a joint financial history that may include:
• Home mortgage loans
• Car loans
• Student loans
• Credit card debt
As a result, getting a mortgage after a divorce with common debt that survives the split can make it challenging to find a new home mortgage loan. It can also leave your credit exposed if old loans and mortgages are not refinanced out of your name. Also, being “quit claimed” off a deed does not exclude you from being marked late down the road if your name exists on the marital home mortgage.
Before you act on getting a new mortgage, here are a few situations that you should disclose with your loan officer first:
If your ex-spouse is keeping the house and is responsible for making payments on a mortgage that you are also obligated to pay:

You will need to provide the lender with a fully executed court order/divorce decree that awards the property to your ex-spouse. Under most circumstances, with a fully executed court order, your lender can omit the mortgage payment from your debt ratio. Without a court order you would need to provide 12 months of cancelled checks showing that your ex-spouse has made the mortgage payments from their own account, not your joint account. The mortgage payments will need to be made on time during this period as well. You will also want to explore the option of having your ex refinance you off the mortgage obligation.

If you receive or owe alimony/child support:
This income can be used to qualify you for a new mortgage, as long as it’s spelled out in the divorce decree. You will need to show proof that the income has been received for at least the past six months and it is going to continue for at least three years from the date of the closing on the new mortgage. Conversely, you are required to disclose any child support or alimony obligations you may have which could affect your qualification ratios. Unlike using child support as income, there is no minimum amount of time you have to be obligated to pay alimony or child support before it’s counted against you. As soon as you are obligated to pay either alimony or child support it has to be counted as a debt against your income.
If you have other joint obligations such as car loans, student loans and credit cards:
These liabilities will be factored into your ability to qualify for a new mortgage. That is, unless it can be documented in the court order/divorce decree that the other party is responsible for paying the obligation. Otherwise it would have to be supported by 12 months proof of payment by the other party showing that they make the payments.
If you are not yet divorced and are planning your future, you will want to create some sort of marital separation agreement. This will help your loan officer determine your options. It is also a good idea to separate your finances, which means getting your own bank accounts and paying your financial obligations from separate accounts.

At # Home Loan Mortgage Lender we understand that getting a mortgage after a divorce can be a challenging experience. That’s why we’re available to help you begin the process, whether you have a divorce decree or not.
To learn more about the process of getting a mortgage after a divorce, contact us today.
843-855-5454.

Found on Google from sondrasneed.com

10/08/2019

Factors that Determine Interest Rate

# HomeLoanMortgageLender We get our clients the best interest rate. I want to explain interest rate. An interest rate is the amount of interest due per period, as a proportion of the amount lent, deposited or borrowed. The total interest on an amount lent or borrowed depends on the principal sum, the interest rate, the compounding frequency, and the length of time over which it is lent, deposited or borrowed

Interest Rates are not determined by the Federal government. They are actually determined by the individual applying for the loan due to the following factors:

1. Credit scores
Your credit score is one factor that can affect your interest rate. In general, consumers with higher credit scores receive lower interest rates than consumers with lower credit scores

2. Home location
Many lenders offer slightly different interest rates depending on what state you live in.

3. Home price and loan amount
Homebuyers can pay higher interest rates on loans that are particularly small or large. The amount you’ll need to borrow for your mortgage loan is the home price plus closing costs minus your down payment. Depending on your circumstances or mortgage loan type, your closing costs and mortgage insurance may be included in the amount of your mortgage loan.

4. Down payment
In general, a larger down payment means a lower interest rate, because lenders see a lower level of risk when you have more stake in the property. So if you can comfortably put 20 percent or more down, do it—you’ll usually get a lower interest

5. Loan term
The term, or duration, of your loan is how long you have to repay the loan. In general, shorter term loans have lower interest rates and lower overall costs

6.Interest rate type
Interest rates come in two basic types: fixed and adjustable. Fixed interest rates don’t change over time. Adjustable rates may have an initial fixed period, after which they go up or down each period based on the market.

7. Loan type
There are several broad categories of mortgage loans, such as conventional, FHA, USDA, and VA loans. Lenders decide which products to offer after analyzing the clients needs. Loan types have different eligibility requirements. Rates can be significantly different depending on what loan type you choose.

Call: 843-855-5454.