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Purchase a Home

Coeur d'Alene Press | UPDATED 12 years, 7 months AGO
| May 23, 2013 11:42 AM

Our mortgage consultants have the expertise to assist first-time home buyers and move-up buyers analyze their short- and long-term goals to make the wisest financing decisions. ??Below are the benefits of the various interest rate and monthly payment options that are available.

Fixed-Rate:

The best choice for individuals who prefer the stability of a fixed interest rate and payment over the life of the loan.  This predictability makes monthly budgeting easier.  A longer term fixed-rate mortgage, typically 20 to 30 years, offers a lower monthly payment; whereas, a shorter term fixed-rate mortgage, from 10 to 15 years, offers a faster pay-off time. 

Adjustable-Rate:

The best choice for individuals who plan to move and/or expect their salary to rise within the next few years.  An adjustable-rate mortgage does just that: rate and payment adjust based on an industry index plus margin.  Some adjustable-rate mortgages offer longer fixed-rate periods of between three and seven years before the first adjustment to rate and payment occur. 

Buydown:

The best choice for individuals who prefer the stability of a fixed-rate, but need lower payments in the initial months of the loan term. 

Explore the advantages of the various programs available today.

  • • ?HOMEPATH® FINANCING
  • • ?DELAYED FINANCING
  • • ?FHA MORTGAGES
  • • ?FHA 203(K) FINANCING
  • • ?PLATINUM DREAM LOAN©
  • • ?VA MORTGAGES
  • • ?USDA RURAL HOUSING MORTGAGES
  • • ?SPECIAL ASSISTANCE PROGRAMS

Refinance Your Loan Tab:

If you currently own your home, consider the various ways in which you can improve your financial position by refinancing.

Lower Your Rate:

Refinancing often makes sense if you can lower your interest rate which yields a lower monthly mortgage payment.

Change to a Fixed Rate:

If you currently have an adjustable-rate mortgage (ARM), it may make sense to switch to a low, fixed-rate mortgage to make budgeting easier.

Renovate Your Home:

If you have light-to-major renovations in mind for your home, it may make sense to get a renovation loan to pay for all your upgrades.

Obtain Cash:

Use the equity in your home for minor home improvements, college tuition or investment opportunities.

Build Equity Faster:

If you currently have a 30 or 40-year mortgage and you want to accelerate your equity growth, it may make sense to change to a 15-year mortgage.

Explore the advantages of the refinance programs available today.

  • • ?DU REFI +
  • • ?LP OPEN ACCESS
  • • ?HARP 2.0
  • • ?FHA STREAMLINE REFI
  • • ?VA INTEREST RATE REDUCTION REFINANCE LOAN
  • • ?STANDARD REFINANCE
  • • ?FHA 203(K) FINANCING