Loan Programs

What’s The Right Loan For Me?

Not too many years ago, you couldn’t even ask this question. All loans were fixed rate, and carried a fixed monthly payment that lasted for a certain number of years. Today you have a wide range of loans to choose from. Multi Real Estate Services has access to some of the most extensive product lines in the industry. With the help of Ron Henderson, you can select just the right mortgage for your particular needs and circumstances. At Multi Real Estate Services we offer the following types of mortgages:

Fixed Rate Mortgage: Favored by people who want to know what their payment will be throughout the life of the loan. The interest rate is set when you get your loan, and the principal and interest payments never change. The loan balance decreases steadily and predictably.

Adjustable Rate Mortgages (ARMs): Unlike a fixed rate loan, the interest rate on an ARM can change during the life of the loan. The interest rate is tied to one or more interest rate indices that reflect general trends of interest rates in the economy. As the interest rate moves up or down, your payment generally moves with it.

Balloon Mortgages: The balloon loan is typically amortized over a standard fixed rate mortgage period but has a shorter maturity. At maturity, some of these loans generally needs to be paid off, with some loans having a conditional option to refinance, or an automatic extention of maturity, at an upgraded interest rate.

Government Loans: Multi Real Estate Services accepts applications for both FHA and VA financing. Generally, the underwriting guidelines for these programs allow for lower downpayments and limit fees resulting in less out-of-pocket costs at closing.

FHA 203(k) Rehabilitation Loan: With the 203(k) loan, a homebuyer can get one mortgage loan to pay for both the purchase and improvement of the property. The 203(k) loan amount is based on the projected value of the home with the work completed.

One-Time Close Construction/Permanent Loan: This program allows a homebuyer to build a home using a general contractor and permanently finance the home with one closing. This results in one application, one closing, assurance of permanent loan prior to construction, and a reduction of closing costs.

Affordable Homebuying Programs: Our Affordable Homebuying Programs offer benefits that accommodate first-time homebuyers, or borrowers with lower incomes and with less cash for closing. These programs provide for the following: less money for a downpayment; allowances for gifts, grants, or unsecured loans; require less income to qualify for a mortgage; and allow for higher monthly debt obligations than are normally allowed with most loan types.

These are just a few of the many loan types Multi Real Estate Services has to offer.

So if you are looking to buy your first home, or your third, or want to take advantage of today’s lower interest rates to refinance, contact Multi Real Estate Services at 818-999-2945. All loans require written application and are subject to credit and property approval.

Licensed Real Estate Broker with the Calif. Dept. of Real Estate