Spring is the Best Season to Fall in Love…With Your Mortgage
Spring is the season of love. New adventures and relationships are around the corner, and just like any good relationship, we want you to get to know your mortgage before making a long-term commitment. The home-buying process can be a challenge, but with PRM’s guidance, you should love your mortgage as much as you love your home.
Whether you have eyes for a fixer-upper, or a mansion, we can get you a date with the perfect mortgage option. Here are a few of the eligible loan types you will fall in love with:
Our Conventional Loans come in a variety of shapes and sizes – all have something to love. Both fixed and adjustable rate mortgages are available with simple and stable conventional financing.
FHA Loan Program
The Federal Housing Administration (FHA) spreads the love with several government-insured loan programs available at low fixed interest rates, requiring little cash to close. The flexibility offered in calculating household income, payment ratios, and credit scores, allows us to structure a better deal for you!
- First-Time Homebuyers
- 203K Rehab Loans
- Reverse Mortgages
High price homes can need some extra love when it comes to financing. Jumbo mortgages are designed to finance luxury properties and homes in largely competitive real estate markets. As one of the Northwest’s leading mortgage banks, we have the products and resources to provide access to these and other equally attractive financing options.
VA Loan Program
We love our veterans! Home loans for our veterans come with an array of great benefits including: no down payment*, low closing costs, no monthly mortgage insurance, and more!
PRM gives rural areas the love and attention they need. A USDA guaranteed loan is a government-insured program available through PRM for purchases in rural areas. Low and moderate income individuals can qualify for these mortgages with a low down payment. To be eligible, both the property and the applicant must qualify using current USDA standards. Some states and county maximum loan amount restrictions may apply.
Don’t forget about our “Reverse for Purchase” program for those buyers who are 62 and older, lovingly available through PRM and Reverse Mortgage Northwest. There are no credit score requirements with these and can help seniors get in and stay in the homes they adore.
If you have any questions about mortgages, give us a call!
We love to play matchmaker!
*Unless required by the lender or the purchase price is more than the reasonable value of the property.
Contents not provided by, or approved by FHA, HUD or any other government agency. Loans made or arranged pursuant to a California Finance Lenders Law license.
At the conclusion of a reverse mortgage, the borrower must repay the loan and may have to sell the home or repay the loan from other proceeds; charges will be assessed with the loan, including an origination fee, closing costs, mortgage insurance premiums and servicing fees; the loan balance grows over time and interest is charged on the outstanding balance; the borrower remains responsible for property taxes, hazard insurance and home maintenance, and failure to pay these amounts may result in the loss of the home; interest on a reverse mortgage is not tax deductible until the borrower makes partial or full re-payment.
Categories: PRM Blog