15-Year Fixed 

The security of a consistent rate and payment and the ability pay off your mortgage as quickly as possible.  A 15-year fixed-rate mortgage allows you to pay less interest over the course of your loan.  Lower rates and a shorter term makes this loan a great choice for the financially savvy customer.

 

How it works:

  • Monthly payments based on interest rate, principal loan amount, and amortized interest over 15 years
  • Your payment will not change throughout the life of the loan
  • Pay your mortgage at any time without pre-payment penalties

Qualification Requirements

  • Refinance up to 95% of your primary home’s value
  • Buy a home with as little as 5% down (primary home)

 

30-Year Fixed

 

If you plan to stay in your home for the long term, sleep tight knowing you will have the stability of a consistent payment that never changes. Plan your budget with a consistent mortgage payment at a low rate that will stay the same through the life of your loan.

 

How it Works:

 

  • Monthly payments based on interest rate, principal loan amount, and amortized interest over 30 years
  • Your payment will not change throughout the life of the loan
  • Your actual payment will vary based on your situation and the current interest rates when you apply
  • Pay your mortgage off at any time without pre-payment penalties

 

Qualification Requirements

 

  • Refinance up to 95% of your primary home’s value
  • Buy a home with as little as 5% down (primary home)
  • Loan amounts from $25,000 to $2,000,000

 

FHA Home Loan

An FHA loan provides a government-insured loan with flexible loan options. Less strict credit requirements and qualifications make this loan the easiest loan for buying a home or refinancing. Save money with an easy and fast FHA loan, qualifying is simple!

How it Works:

  • Pay your mortgage at any time without pre-payment penalties
  • 30-, 25-, 20- and 15-year terms are all available with fixed rates
  • 5-year adjustable-rate mortgage available

Qualification Requirements

  • Credit scores as low as 580 may qualify
  • Refinance up to 97.75% of your primary home’s value
  • Buy a home with as little as 3.5% down (primary home)

 

 

VA Home Loan

 

Are you are a veteran, member of the military or military spouse? You may qualify for a VA loan.  VA Loans offer flexible options as either fixed-rate or ARM mortgages.  You may qualify for fast approval and a hassle-free loan even with less than perfect credit.  Refinance up to 100% of your home or buy a new home with no down payment and never pay monthly insurance (PMI)!

 

VA Loan Highlights

 

  • 30-, 20- & 15-year fixed-rate and 5-year ARM loans available
  • Jumbo VA loans available
  • Refinance up to 100% of your primary home’s value
  • VA Streamline Refinance with a reduced funding fee and flexible documentation requirements – available for veterans currently in VA loans
  • Buy a home with no money down (primary home)
  • No monthly PMI (Private Mortgage Insurance)
  • VA loans are governed by the U.S. Department of Veterans Affairs

 

How it works:

 

  • Fixed rate monthly payments are based on interest rate, principal loan amount and amortized interest over 15, 20 or 30 years. Your payment will not change throughout the life of the loan
  • ARM interest rates are fixed for a period of 5 years. After the fixed rate period, your interest rate can adjust up or down depending on the market
  • Pay your mortgage at any time without pre-payment penalties

 

Jumbo Homes Loans 

When a loan amount reaches a certain point, Jumbo and Super Jumbo Loans can offer high-end financing that a traditional loan can’t.

Over the past few years, some lenders have decreased their Jumbo Loan offerings and have made them harder to obtain, but at Prospect Financial Group, Inc., we can get you the best rate possible on your Jumbo Loan.

With a jumbo mortgage, you’ll get great rates for your big loan. With a choice between fixed or adjustable rates, our jumbo loans offer maximum flexibility for home financing for larger loans.

 
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