Welcome to Solutions Home Mortgage, We are home loan experts dedicated to making sure your home purchase or refinance experience exceeds expectations. At Solutions Home Mortgage, our mission is to serve our customers with honesty, integrity, and competence while taking the mystery and anxiety out of home financing.
With each of our loan officers bringing 20+ years of lending experience to the transaction, we take the time to understand your personal financial circumstances and craft a mortgage that provides not only the lowest interest rates, but the lowest closing costs and down payment for YOU.Solutions Home Mortgage, Inc. strives to ensure that its services are accessible to people with disabilities.
Solutions Home Mortgage, Inc. has invested a significant amount of resources to help ensure that its website is made easier to use and more accessible for people with disabilities, with the strong belief that every person has the right to live with dignity, equality, comfort and independence.
With each of our loan officers bringing 20+ years of lending experience to the transaction, we take the time to understand your personal financial circumstances and craft a mortgage that provides not only the lowest interest rates, but the lowest closing costs and down payment for YOU.Solutions Home Mortgage, Inc. strives to ensure that its services are accessible to people with disabilities.
Solutions Home Mortgage, Inc. has invested a significant amount of resources to help ensure that its website is made easier to use and more accessible for people with disabilities, with the strong belief that every person has the right to live with dignity, equality, comfort and independence.
Services
About
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Solutions Home Mortgage, Inc. strives to ensure that its services are accessible to people with disabilities.
Solutions Home Mortgage, Inc. has invested a significant amount of resources to help ensure that its website is made easier to use and more accessible for people with disabilities, with the strong belief that every person has the right to live with dignity, equality, comfort and independence.
Solutions Home Mortgage, Inc. makes available the UserWay Website Accessibility Widget that is powered by a dedicated accessibility server.
Solutions Home Mortgage, Inc. has invested a significant amount of resources to help ensure that its website is made easier to use and more accessible for people with disabilities, with the strong belief that every person has the right to live with dignity, equality, comfort and independence.
Solutions Home Mortgage, Inc. makes available the UserWay Website Accessibility Widget that is powered by a dedicated accessibility server.
Loan Programs
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A standard conventional or sometimes referred to as a conforming mortgage is a traditional mortgage offered by private lenders.
Conventional loans are required to meet the lending guidlines or Fannie Mae and Freddie Mac.
Minimum credit score is 620 and require a minimum of 5% downpayment.
FHA home loans are mortgages which are insured by the Federal Housing Administration (FHA), allowing borrowers to get low mortgage rates, lower down payment, lower credit score requirements, and higher sellers concessions.
Conventional loans are required to meet the lending guidlines or Fannie Mae and Freddie Mac.
Minimum credit score is 620 and require a minimum of 5% downpayment.
FHA home loans are mortgages which are insured by the Federal Housing Administration (FHA), allowing borrowers to get low mortgage rates, lower down payment, lower credit score requirements, and higher sellers concessions.
Loan Process
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The first step in obtaining a loan is to determine how much money you can borrow.
In case of buying a home, you should determine how much home you can afford even before you begin looking.
By answering a few simple questions, we will calculate your buying power, based on standard lender guidelines.
You may also elect to get pre-approved for a loan which requires verification of your income, credit, assets and liabilities.
Be in a better position when negotiating with the seller (seller knows your loan is already approved).
In case of buying a home, you should determine how much home you can afford even before you begin looking.
By answering a few simple questions, we will calculate your buying power, based on standard lender guidelines.
You may also elect to get pre-approved for a loan which requires verification of your income, credit, assets and liabilities.
Be in a better position when negotiating with the seller (seller knows your loan is already approved).
Faq
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It's generally a good time to refinance when mortgage rates are 2% lower than the current rate on your loan.
It may be a viable option even if the interest rate difference is only 1% or less.
Any reduction can trim your monthly mortgage payments.
Example: Your payment, excluding taxes and insurance, would be about $770 on a $100,000 loan at 8.5%; if the rate were lowered to 7.5%, your payment would then be $700, now you're saving $70 per month.
Your savings depends on your income, budget, loan amount, and interest rate changes.
It may be a viable option even if the interest rate difference is only 1% or less.
Any reduction can trim your monthly mortgage payments.
Example: Your payment, excluding taxes and insurance, would be about $770 on a $100,000 loan at 8.5%; if the rate were lowered to 7.5%, your payment would then be $700, now you're saving $70 per month.
Your savings depends on your income, budget, loan amount, and interest rate changes.
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