Raining Cats And Blogs: LOOKING FOR A HOME LOAN THAT WILL RETIRE WHEN YOU DO?

LOOKING FOR A HOME LOAN THAT WILL RETIRE WHEN YOU DO?

Looking for a loan on your home that will retire when you do? Or maybe you want to time a refinancing so that the loan is paid up when the kids head off to college. There are a number of lenders that would be happy to oblige. Customized home loans aren’t new. But industry experts say they are seeing more and more borrowers opt for fixed-rate loans with terms other than the standard 30 or 15 years, especially when it comes to refinancings. Last year, nearly 17 percent of all refinanced residential loans were with “other length” fixed-rate loans, according to the Mortgage Bankers Association, which noted that in August, September and October, the share was 20 percent. Most of those “other length” loans were in 20-year loans, though loans are also available for 10, 25 and 40 years, and even for “oddball” terms like 23 or 12 years. Michael Fratantoni, the association’s vice president for research and education, called the 20-year loan “a new phenomenon” and said it had “become the third-favorite product.” Source: New York Times
 

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Brent Clymer
Licensed Mortgage Loan Originator

800.578.1999 ext 1456
864.569.6191 Direct
866.614.0847 Fax


Email

LO NMLS ID# 201277 Company NMLS # 1599

 

 

"Honesty, integrity, knowledge and hard work are the cornerstones to providing superior customer service. Franklin American Mortgage Company utilizes these qualities in every aspect of business. Because our marketing strategy is built on referrals, we guarantee to make your mortgage experience a great one!"


Feel free to contact me with any questions you may have regarding the mortgage lending process.

 

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It is wise to get pre-approved before going out to look for a home because knowing how much you can borrow may help you narrow your home search.

It may also give you more leverage when it comes time to negotiate a price and is generally well-accepted by sellers and their realtors.

To find out about getting pre approved with Franklin American Mortgage Company, call us at 800-295-1020 or click above to apply online.

Before applying for pre approval, you may also want to carefully assess how much money you can afford to spend on a home.

This can also save you time and effort during the homebuying process by allowing you to focus on homes that fit your price range.

If you are looking to buy or sell a home in the  Anderson or Greenville SC real estate areas, visit our website at www.SheilaNewtonTeam.com for tons of great information.

 

   
Sheila Newton   
Sheila Newton Team 
Berkshire Hathaway HomeServices -
C. Dan Joyner, Realtors
864-225-1205 (direct)
864-940-6377 (mobile)

www.SheilaNewtonTeam.com    


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Comments

This seems to be a real theme lately in AR, the urging of buyers to engage their lender early in the process and to choose one who can help them really understand the process.

Posted by Mona Gersky, GRI,IMSD-Taking the mystery out of real estate. (MoonDancer Realty, Dillsboro,NC) almost 7 years ago

it is a first step for sure!!! Most buyers right now can afford more than they think!...

Posted by Sheila Newton Team Anderson & Greenville SC, Selling the Upstate since 1989 (Berkshire Hathaway HomeServices - C. Dan Joyner) almost 7 years ago

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