Conventional Mortgage Loan
*2.654% APR, $330,000 purchase price, 20% down payment, 740 credit score, 30 yr. fixed rate and $264,000 loan amount.
VA Mortgage Loan
*2.432% APR, $330,000 purchase price, 0% down payment, 720 credit score, 30 yr. fixed rate and $337,095 loan amount.
FHA Mortgage Rate
*3.829% APR, $330,000 purchase price, 3.5% down payment, 700 credit score, 30 yr. fixed rate and $324,022 loan amount.
FHA loans are a popular choice for first-time home buyers. However, a FHA guaranteed loan can still be a great option for any home-buyer looking for a low down-payment option. With less stringent credit requirements and flexible income ratios, FHA loans can offer a benefit over conventional financing under the right conditions.
Fannie Mae and Freddie Mac offer great mortgage financing options. While they both fall under conventional guidelines, each is slightly different. Examples of differences are proof of tax return requirements, reserve requirements, down payment requirements, and even the need for an appraisal.
VA guaranteed loans provide an extra assurance to mortgage lenders which allows eligible borrowers to get a competitive mortgage rate. Little or no down payment purchase options and simple refinance Interest Rate Reduction Loans (IRRL) give eligible borrowers access to the best mortgage loans available.
Shopping for the perfect home can be challenging. Finding the best mortgage loan should be easy. Competitive Home Lending has access to many national mortgage lenders and can eliminate mortgage lenders with restrictive lending criteria. Matching borrowers with the right lender makes the home-buying process simple.
When it is time to reduce your monthly mortgage payment or accelerate the time it will take to payoff, Competitive Home Lending will help you leverage your financial goals. When refinancing makes sense, get the most out of your refinance with the best mortgage loan rate.
If refinancing consumer debt into your mortgage will save you money, then getting the lowest possible rate is priority. As a mortgage broker, Competitive Home Lending will help you save the most by finding the lowest wholesale mortgage rate. Use the same national mortgage lenders but avoid retail mortgage rates.
“CONSUMERS WISHING TO FILE A COMPLAINT AGAINST A COMPANY OR A RESIDENTIAL MORTGAGE LOAN ORIGINATOR SHOULD COMPLETE AND SEND A COMPLAINT FORM TO THE TEXAS DEPARTMENT OF SAVINGS AND MORTGAGE LENDING, 2601 NORTH LAMAR, SUITE 201, AUSTIN, TEXAS 78705. COMPLAINT FORMS AND INSTRUCTIONS MAY BE OBTAINED FROM THE DEPARTMENT’S WEBSITE AT WWW.SML.TEXAS.GOV. A TOLL-FREE CONSUMER HOTLINE IS AVAILABLE AT 1-877-276-5550. THE DEPARTMENT MAINTAINS A RECOVERY FUND TO MAKE PAYMENTS OF CERTAIN ACTUAL OUT OF POCKET DAMAGES SUSTAINED BY BORROWERS CAUSED BY ACTS OF LICENSED RESIDENTIAL MORTGAGE LOAN ORIGINATORS. A WRITTEN APPLICATION FOR REIMBURSEMENT FROM THE RECOVERY FUND MUST BE FILED WITH AND INVESTIGATED BY THE DEPARTMENT PRIOR TO THE PAYMENT OF A CLAIM. FOR MORE INFORMATION ABOUT THE RECOVERY FUND, PLEASE CONSULT THE DEPARTMENT’S WEBSITE AT WWW.SML.TEXAS.GOV.”