Mortgage Links
MORTGAGE BROKER SERVICES

Mortgage services assist persons with obtaining loan rates, financing, home & land loans, debt consolidation, refinancing and much more. Mortgage services will take care of your loan application, process it and check credit history. Once the mortgage companies have completed all the necessary, preliminary check, it will find a loan that is right for you. To keep the American dream going, the federal government and private lenders offers several mortgage services:

First-time homebuyer programs-One simple answer is to check with local banks, housing authorities and other community organizations to see what type of first-time homebuyer programs might be available. Federal loan programs-There are two main sources of federal mortgage programs: HUDís Federal Housing Administration and the Veteranís Administration. FHA loans are the most widely available since VA loans also require proof of military service.

FHA loans-The Federal Housing Administration helps make homeownership a possibility by providing private lenders with mortgage insurance, thus enabling the private lenders to make loans to borrowers they otherwise would not qualify. The FHA has several low or no down payment programs available, each with different requirements. Check with your bank or community housing agency to see what is available in your area and what the limits are.

VA Loans-The Veteranís Administration makes low-interest mortgage loans to qualified veterans, active duty personnel and some spouses. A down payment is not required as long as the purchase price of the house is not more than what the VA determines to be a reasonable value for the property.

USDA loans-The US Department of Agriculture, through its rural housing service also offers no down payment housing loans to qualified buyers in rural areas.

Special HUD programs-HUD has special mortgage services for qualified individuals whereby they can buy selected HUD homes for a 50 percent discount from list price with only a $100 down payment.

Fannie Mae and Freddie Mac-These are private companies that work to provide low cost mortgage services across the nation. Both companies offer mortgages for the affordable housing market. Your bank or community housing agency can help you locate these programs.

Whether it is low interest rates, low monthly payments, or refinancing a home to get extra money for building an additional room, mortgage services include all the essential tools to get the financing for what you need and when you need it.
 
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