Want to know which ideal mortgage that right for you?
Exploring the multitude of home loan options can be daunting, and it’s essential to pick the best one for your needs. Thankfully, we are here to help you find your way around this complex issue and make an informed decision about which type of loan is best for you.
Here Are Some Of The Options
Fixed Rate
A traditional fixed-rate mortgage is one of the most popular loan types. This type of loan entails steady monthly payments that remain unchanged over the entire loan repayment period and include both principal and interest.
Adjustable Rates
ARMs are loans that have adjustable interest rates which can go up or down depending on the current market conditions. Typically, they have a fixed rate for a set period of time before shifting according to market fluctuations.
Interest Only
An Interest Only loan is a type of mortgage where the monthly payments do not include the repayment of principal during a specific period. These mortgages usually come with fixed or adjustable rate options, as well as with option ARMs.
Graduate Pay
Graduated payment mortgages are special types of loans which involve an increase in the payment amount each year for a set period. After this, the payment remains fixed till the end of the loan. This could mean that your payments rise over 5 or 10 years and then remain stable.
Loan Program Options
FHA Loans
FHA home loans are mortgages that are insured by the Federal Housing Administration (FHA), allowing borrowers to get low mortgage rates with a minimal down payment.
USDA Loans
If you are looking for a property in a rural or suburban area with little to no down payment and minimal investment, then you should consider the USDA it is the perfect match for owning that dream home.
VA Loans
This loan is great opportunity for veterans to easily obtain a home loan with no down payment. This program help them and their families have access to quality housing and other assistance they may need.
Jumbo Loans
If you're looking to buy a property with a high price tag, you may consider obtaining a jumbo loan. It can help cover the expenses of the purchase that would otherwise be too expensive to finance through a conventional conforming loan.
At Sodo Lending, we simplify it. Your Mortgage Process.
By providing your contact details, you agree to Sodo lending’s Privacy Policy and let us contact you via text message or telephone call about your request. By giving us your consent, you allow us to contact the residential or cellular number you have provided, even if it is listed on a corporate, state, or national Do Not Call Registry. You do not have to agree to receive such calls or messages as a condition of getting any services from Sodo Lending. You also agree that we can share your personal data and contact information with third parties for analytics, and to improve your experience.