Get a low, fixed rate for the first five years, followed by a adjustable rate
With no down payment, your interest rate is fixed for the first five or seven years with a simple 2/2/5 adjustable rate after the initial fixed period ends.
With no money down, you can put your savings into upgrades for your new home or into your savings account.
This loan is only available under specific circumstances.
Your Mortgage Originator can go over all the eligibility requirements with you.
The Zero Down Portfolio Home Loan is an adjustable-rate mortgage that’s linked to an economic index. That means your interest rate could increase or decrease over time.
With this loan, your interest rate is fixed for the first five years. After that, there are limits on how much your rate can change with each adjustment. There’s a maximum 2% change from your previous rate with each adjustment, and a maximum 5% change from your original rate over the life of the loan.
If you want to buy a home within the next few months, then it’s a good idea to get preapproved. Preapproval shows the seller that you’re serious about buying and you have the funds you need to make a purchase. If you’re searching for a home in a competitive market, preapproval makes your offer more attractive to sellers and gives you a critical advantage over other potential buyers.
While many lenders cancel their preapprovals after 90 days, there’s no expiration date on ours. If any of the documents in your credit approval file are out of date, we’ll offer you the opportunity to update them so that you can keep your preapproval in place.
Your credit score affects the interest rate you qualify for when you apply for a mortgage. With a higher credit score, you can usually qualify for a lower interest rate, which lowers your monthly payment and reduces the overall cost of your loan.
If you’re not sure what your credit score is, you can request a free copy of your credit score every 12 months from https://www.freecreditreport.com/. If your credit score isn’t as high as you’d like it to be, here are some tips for improving your credit.
Three ways to tell if it’s a good time to refinance your mortgage.
First home? Here’s how to find the best mortgage program for you.
Our mortgage experts are ready to help you one-on-one, every step of the way. We streamline the process to make it easier for you, and we’re always ready with advice and assistance.Meet the Team
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