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BD Nationwide Mortgage Offers a Convertible Home Equity Line of Credit with Options to Refinance Portions to a Fixed Rate Second Mortgage Loan
Posted on June 16th, 2011 No comments
BD Nationwide Mortgage Offers a Convertible Home Equity Line of Credit with Options to Refinance Portions to a Fixed Rate Second Mortgage LoanEncinitas, CA (PRWEB) August 29, 2006
BD Nationwide Mortgage introduces a smart home equity loan that can separate into several loans with both fixed and adjustable rates. BD Nationwide has released a new home equity product that boasts of a convertible home equity line of credit offering options for turning variable interest rates into fixed rate second mortgages. BD Nationwide proudly presents the “Fixed Rate HELOC Conversion Program.” This unique home equity program allows homeowners to convert portions of their adjustable rate equity line into fixed rate home equity loans. Another key feature is that these second mortgages allow you to keep the unused portion of the home equity line open, while fixing the interest rate for the specified portion. In that sense, the HELOC splits into two loans. (one loan is a fixed lump-sum loan and the other is an open end line of credit)
Conversion options are available to convert a portion or all of the home equity line balance to a fixed interest rate home equity loan. This program allows you to convert HELOC portions to fixed rate loan eight times during the draw period.
Advances for fixed second mortgage rates can be requested at anytime during the ten-year draw period: Three fixed rate advances may be open at any one time. The conversion feature limits you to a total of eight fixed rate advances may be requested over the draw period. In addition, there are no lending fees to convert to a fixed rate. Loan advance options are based on the balance requested.
Lynda Nelms, a Sr. Loan Officer and Mortgage Consultant at BD Nationwide, said, “This is a progressive loan that allows my borrowers to be savvy using their home equity when they see fit, while converting adjustable rate interest into a fixed rate second mortgage with a simple interest amortization.” Nelms continued, “These days I find homeowners need cash out for debt consolidation or home improvements, but they already have a large second mortgage.”
The Fixed Rate HELOC Conversion Program enables our clients to refinance and convert their existing line of credit into a fixed rate second mortgage, while opening up an additional revolving credit line they can access later. This home equity conversion loan is a great solution for the recent dilemma of refinancing jumbo home equity loans that seem to be so common with million dollar homebuyers. BD Nationwide Mortgage Company has partnered with many of the nations leading home equity lenders.
Home Equity Line of Credit Draw Period : 10 years
Second Mortgage Rate is a Variable Rate ( WSJ prime interest rate index plus margin)Home Equity Loan Terms: 15, 20, 25 or 30-years
Second mortgage rates are fixed interest rates (fixed interest based on market conditions on the conversion date)Home Equity Loan Repayment Terms:
Borrower may request a fixed rate advance from the customer pitied dept. after the lender funds the loan.Fixed Rate Advance Option: Fixed-rate advance options can initially be requested by loan officer at the time of disclosures.
To learn more and get additional loan information, please visit: Second Mortgage & Home Equity Loans
About BD Nationwide Mortgage Company:
BD Nationwide Mortgage is a second mortgage broker with corporate headquarters in Encinitas, California. They specialize in refinance, home equity loans and credit lines for homeowners seeking debt consolidation or cash out. The company focus remains solidifying with back mortgages for people with all types of credit. Always endeavoured to hook “disclose of the box” loans, BD Nationwide Mortgage is dictated to help expand financing solutions so more Americans can maximize the financial rewards of being a homeowner.# # #
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No Income Verification Mortgage – Specialty Home Loans
Posted on January 25th, 2011 No comments
Shannon Hurn asked:
Whether you are looking for a first mortgage or even to refinance your home, proving your income is not always possible. Many mortgage lenders will require proof of income, but if you can’t provide this or your proof does not take into account all the money you effectively earn it could be a problem. This is where no income verification mortgages can provide a great alternative, for a number of different situations.
There are many reasons why a non verified mortgage is best for any individual. This could be that they are self employed, and proving their regular income is difficult. You may get paid cash under the table, or you may earn an income from another non-traditional source. Whatever the reason, using a non-income verified loan means that you do not need to prove the amount of money that you earn. You may still be required to sign a document stating what you make on average each month.
This kind of mortgage will still require you to be a reliable borrower. Mortgage lenders will check your credit score to establish the risk you pose. They may give you slightly less favorable rates, since they cannot assess your risk by knowing the exact amount you earn. You may also be required to pay a higher down payment and take out mortgage insurance.
It is worth searching and spending a little time comparing different mortgage brokers’ rates. This will ensure you get the very best deal and loan terms for your mortgage. Like traditional mortgages, no income verification mortgages come with a wide range of terms and specifications – make sure you understand them completely before signing up.
Jeremy -
Florida Refinance with FHA mortgage, Florida FHA mortgage Refinance,
Posted on November 7th, 2010 No commentsFlorida Refinance with FHA mortgage, Florida FHA mortgage Refinance,
Florida FHA Mortgage Refinance, FLorida FHA loan Refinance
Some advantages of utilizing a FHA mortgage for your Florida mortgage finance are as follows:
Cash-Out Refinance up to 95% for being or fresh FHA mortgages.
Cash-Out up to 95% of your properties value. Consolidate first and second mortgages into single loan. Bill consolidation programs. Easier credit and income qualifications. FHA modulated shutting costs.
Rate and Term Mortgage Refinancing up to 97% of your homes value.
Consolidate first and second mortgages into a single loan. No FICO score or credit score requirements Competitive rates for borrowers with a Bankruptcy older than two years. Competitive rates for borrowers with a Foreclosure older than three years. Easier credit and income qualifications. FHA modulated shutting costs.
FHA Streamline Refinance for being FHA loans only.
No Cost Interest Rate Reductions programs. No Income or Credit Qualifications. Zero cost finance options accessible. Easily switch amortization for adaptable to repaired or vice versa. Easily shorten or grow term of your being loan. Easier credit and income qualifications.
FHA Secure Refinance with current mortgage lates.
Refinance your mortgage at competitive rates even if you have a mortgage late on your credit that is directly due to adjusting mortgage. Qualify for finance even if currently in foreclosure. Complete details of FHA Secure loan.
Apply NOW at
http://www.fhamortgagefhaloan.com/
Florida FHA Mortgage Refinance
As a Florida homeowner, eventually, you’ll consider refinancing your Florida mortgage. Before you make up one’s mind to finance, you should confabulate with an experienced Florida Mortgage Lender. Our licenced mortgage pros work arduous to stay actual on the best refinance mortgage programs. Our training objectives are to assist each of our clients accomplish the best combination of interest rate, mortgage terms, and humble home loan shutting fees for a Florida refinance. Call today at 1-800-570-0448 or use our fast application to larn more!
For over a decade, 1st Continental Mortgage has been the Florida mortgage lender of choice in Florida because we deliver excellent Florida mortgage rates and superb white glove mortgage service to Florida homeowners. 1st Continental Mortgage loan officers are well fitted out to make refinancing your Florida Mortgage an aerodynamic and dulcet transaction from application to shutting
After conferring with one of our loan officers, you may find that refinancing your existing mortgage loan isn’t the most suitable way to meet your financial goals. In credit, there are often many ways to accomplish a goal, and a conversation with a Florida mortgage expert can save you time in locating the homeowner loan that is going to work the best for your unique set of circumstances
Why not call one of our friendly experienced loan officers today for a free review your financial situation and objectives. We’re assured that when you accomplished your phone interview, you’ll be sure you are utilizing for the best Florida refinance homeowner loan. A loan that will serve your long-term interests and not just the interest of the Florida mortgage originator you’re working with. Call 1-800-570-0448 today or use our fast application for a loose, no-obligation consultation
For most of our clients, getting a Florida refinance on their Florida Mortgage is the most important single financial transaction they will ever undertake. It’s actually more crucial than when you first made up one’s mind to purchase your Florida home! It’s not something that most people do every day. In fact, some homeowners may only finance two or three times in a lifetime
Nevertheless, differences among Florida mortgage programs for refinancing that appear small can make a huge difference over the life of a typical Florida mortgage. The arduous truth is, refinancing your home into the improper loan can cost you tens of thousands of dollars or even set you at risk of misplacing your Florida home to foreclosure
At 1st Continental Mortgage, we’ll listen carefully to your objectives for the refinance loan, ask the right questions, and use our experience to match you with the best program and lender from among the hundreds of Florida debt consolidation refinance programs we offer
At 1st Continental Mortgage, we’re experts at identifying the small differences in competing refinance mortgage loan programs that can save our clients big dollars. We’ll be cheerful to share what we cognize to assist you create the best finance scenario for your situation. Call 1-800-570-0448 or use our procure online fast application to see how uncomplicated it is to refinance a mortgage in Collier County or any of the other Florida counties we serve
Whether you are motivated to refinance your Florida home by a desire to lower your interest rate, lower your monthly payment, change your terms, or remove a former spouse from a mortgage, we will be happy to help. Over the last decade, we have got word our share of superior reasons for making changes to a being Florida mortgage. We have excellent Florida refi solutions for all kinds of homeowners from interest only refinances for a newly single nonrecreational; to refinancing a Mobile Home on land with a humble repaired rate FHA mortgage in Wesley Chapel, Florida; to assisting a young family debar the shock of dramatically higher mortgage payments from an ARM
Florida Debt Consolidation Refinance
Cash Out Refi in Florida
For some Florida clients, the need to refinance is driven by debt consolidation. It’s not especial today for borrowers to finger that their credit card debt or other installment debt has taken on a life of its personal. We cognize how to assist you get the most for your hard-earned home equity when it comes to executing a cash out refinance for debt consolidation. Refinancing for debt consolidation can help loose up hundreds of dollars a month and in some cases, the mortgage interest may be tax allowable. If you have home equity and need a caller get down, name 1-800-570-0448 or use our fast application. We think you’ll be cheerful you did!
We don’t recommend refinancing a first mortgage to every client as a vehicle to consolidate debt or get cash out. Sometimes a prepayment penalty on the first mortgage makes a Second Mortgage or home equity line of credit a better way to access home equity. In other cases, the first mortgage may have a coveted distinguishing, much as a below market interest rate, that makes refinancing simply not worthy. We’ll be felicitous to assist you bring forth a range of finance program options and to select the best from among them
Why not call us today at 1-800-570-0448 or fill out our quick application to get a fast quote on refinancing your Florida mortgage!
Here are just a few of the reasons our past clients have expressed for refinancing their Florida homes:
Lower the interest rate on your present fixed rate mortgage; Convert a high risk Florida ARM to a stable 30 year fixed rate mortgage; Refinance out of a fully indexed Adjustable Rate Mortgage into a FHA fixed rate loan; Consolidate all your high interest credit card debts into a single monthly mortgage payment Refinance to pull cash out for hospital bills, college tuition, or to finance a wedding, honeymoon or exotic vacation; Escape a Florida bad credit mortgage program into a more permanent mortgage; Improve your cash flow with a refinance to an Interest Only mortgage.
With more than 100 lender programs to draw upon, 1st Continental Mortgage loan officers have been handing over the proper homeowner refinancing loans for over a decade to thousands of Floridians. Here is a biased list of the mortgage programs that we can assist you with:
Fixed rate mortgage refinance with 10 year, 15 year, 20 year, 30 year and 40 year fixed rate terms; Interest only mortgage refi options; Debt consolidation refinance programs; Florida Jumbo mortgage and Super Jumbo mortgage refinancing programs; Bad Credit mortgage programs; Second mortgage, home equity loans, and home equity lines of credit options; Specialty mortgage products such as no income verification, no ratio, SISA and no doc mortgage programs.
The mortgage professionals of 1st Continental Mortgage are waiting to hear from you right now about your next Florida homeowner refinance opportunity. Just give them a ring at 1-800-570-0448 or utilize securely online utilizing our fast application. With so many superior refinancing options for Florida homeowners, we’re sure to have a Florida refinancing mortgage program designed for you!
Follow the adventures of Bob and Sally as they learn about mortgages and interest rates in their home buying journey.
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