Do you want to refinance but have low or no equity? You could be eligible to refinance with the Home Affordable Refinance Program (HARP) even if you’ve been denied in the past. HARP’s easy qualification requirements and streamlined refinance process have made it possible for nearly 3.5 million Americans to take advantage of today’s low rates since the program began in 2009.* To find out if you qualify for HARP, call us today at 800-QUICKEN or visit QuickenLoans.com/HARP-Program.
The adjustable rate mortgage (or ARM) is a home loan that begins with an initial fixed-rate period and then adjusts up or down, depending on market conditions. Millions of home buyers and homeowners can save money with an ARM because ARMs often offer lower initial mortgage rates than fixed-rate mortgages. ARMs are a great choice for people who move or refinance their home often and can save them thousands of dollars. At Quicken Loans, our adjustable rate mortgages come with an initial fixed-rate period of 5, 7 or 10 years. Because ARMs are amortized over a 30-year period and have a lower initial rate, ARMs can offer a very low payment and can free up money for other purposes. This is a top reason why ARMs are the mortgage of choice for the financially savvy. To learn more about ARMs, go to http://www.quickenloans.com/home-loan… or call 800-QUICKEN.
The YOURgage is a fixed-rate mortgage exclusively from Quicken Loans. The YOURgage allows you to choose a fixed-rate term from 8 to 30 years. You can match your term to a payment that is perfect for your budget. A longer term will get you a lower payment and allow more cash flow for other expenses. A shorter term will get a lower mortgage rate and save you thousands in interest. The YOURgage is a great option for homeowners who want to refinance and keep the same number of years left on their mortgage. To find out how much money you can save with the YOURgage, go to http://www.quickenloans.com/home-loan… or call 800-QUICKEN.
Published on Oct 27, 2014
The 15-year fixed-rate mortgage is a popular choice for homeowners and home buyers for many reasons. You’ll save thousands of dollars in interest compared to a 30-year fixed mortgage, and you’ll pay off your home in half the time. The 15-year fixed is amortized over 15 years, meaning you’ll have 15 years of monthly mortgage payments at a rate and payment that will never change. The 15-year fixed is a conventional loan that’s also available in an FHA loan and a VA loan. For more information on 15-year fixed mortgages, go to http://www.QuickenLoans.com/Home-Loan….
Your credit score has a direct impact on how much you can borrow and whether or not you qualify for the lowest rates. Several factors affect your credit score, including the types of credit you already have (like student loans or auto loans, for example), the age of your credit and how much of your credit you’re actually using. Late payments also have a major impact on your credit and can impact your score for several years. That’s why you should always review your credit report to make sure there are no mistakes or inaccuracies. Any time you see a mistake, you should immediately contact the credit bureau to get the issues fixed. To get a free credit report and score, go to www.Quizzle.com. For more information on credit scores and reports, go to www.QuickenLoans.com/Blog.
The main steps of purchasing a home are actually very simple. First, you want to get a preapproval letter from your mortgage company so you know how much you qualify for. The next step is finding the right real estate agent who can lead you to the home that aligns with all your goals. After finding your perfect home, you’ll be ready to make an offer on the house. Once that offer is accepted, a purchase agreement is drafted and signed by both the buyer and seller. Now that everything is signed and turned into your lender, the underwriting process begins. To avoid any mistakes during the underwriting process, be sure to have all the proper documentation (e.g. tax returns, pay stubs, w-2s, and bank statements) verified. For more tips and advice on buying your first home make sure you visit our website at http://www.QuickenLoans.com/Blog