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.
A VA home loan is for veterans, active members of the military and their qualifying spouses. Learn about the benefits of a VA loan, including buying a home with no down payment, or lowering your monthly payments with a streamlined refinance. A Quicken Loans Home Loan Expert will help you choose which of our many VA loan options is best for your personal situation. For more information about VA loans, visit QuickenLoans.com/Home-Loans/VA-Loan or call 800-QUICKEN.
Quicken Loans announces the PMI Advantage, a new and exclusive program that can save you thousands in mortgage insurance payments, compared to traditional PMI. It allows you to enjoy the home of your dreams without having to put 20% down. With PMI Advantage , you’ll accept a slightly higher mortgage rate and eliminate monthly mortgage insurance payments, which often add up to several hundred dollars a month. By choosing PMI Advantage, not only will you never have to make a monthly mortgage insurance payment, but you’ll also be able to take advantage of mortgage interest tax deductions. Private mortgage insurance is no longer tax deductible. To find out how much you can save with PMI Advantage, go to http://www.quickenloans.com/home-loan… or call 800-QUICKEN.
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….
Mortgage appraisals are an extremely important step in the mortgage process. They determine the fair market value of your home or property that you want to buy. Appraisals are done by licensed 3rd party appraisers and not by mortgage companies – by law. Mortgage companies are not allowed to have any influence on appraisals. To learn more, watch the video or go to http://www.quickenloans.com/blog
Eddie Berger, director of solution consulting at Quicken Loans, explains one of the most important tools someone considering a mortgage should consider – the mortgage calculator. Mortgage calculators allow someone to find out what their payment and interest on a mortgage would be, and also if they could save money with a lower rate. There are four variables in a mortgage calculator – term, loan amount, payment and rate. As long as you know three of them, you can use a mortgage calculator to find the fourth. For example, if you know the term (30 years), loan amount ($200,000), payment ($900), then you would be able to find out what the rate is. In the previous example, if you knew the rate and the other two variables, you would find out the payment. This is probably the most common way mortgage calculators are used. Anyone considering a mortgage to buy a home or refinance should use a mortgage calculator to better understand the cost of a mortgage. For more information go to http://www.quickenloans.com/blog/ or call 800-QUICKEN.
Mortgage subordination occurs when a homeowner has more than one mortgage on a home, such as a home equity loan or a home equity line of credit,and refinances. The company that lent the home equity loan much “subordinate” their right to be paid off in order for the main mortgage to refinance. Learn more from this great video in our Quicken Loans Blog Education Series or go to the blog at http://www.quickenloans.com/blog
If you’re getting ready to buy a house, there are a few components that are really important to consider. The first is your budget. Your budget should include enough to cover both your down payment and a comfortable monthly payment. Second, you should consider the actual location of your home and make sure that it includes all the amenities you are looking for. Third, you want to find the type of home that’s going to fit both you and your family’s life styles. A common question that most first time homebuyers experience is where to start. Do you start with the real estate agent or the lender? The first step you need to take in the home buying process is talk to a mortgage company before a real estate agent. This way you can find out how much you actually qualify for, which, in turn, helps the real estate agent narrow down the options of homes to ones that are within your price range. Aside from your real estate agent, be sure to customize your search as well by looking at different websites and apps that will help you find your perfect home. For more tips and advice on buying your first home make sure you visit our website at http://www.QuickenLoans.com/Blog