HOW DO I GET MY LOAN FOR FREE?
|
|
We offer three options for rates and fees.
Lowest Rate Option
The rate sheets on this site show our lowest interest rates. At the rates shown, you will be required to pay lender fees totaling $850, title fees, an appraisal fee, a credit report fee, and any required interest or escrow amounts. That's right--NO ORIGINATION FEES EVER!!
No Lender Fees option
If you choose to increase your rate by .125%, the $850 in fees will be waived.
No Cost option
We also offer a no cost option, where you will only pay the appraisal and any required interest or escrow. Usually this involves a .25% increase in the rate, but please call for an exact quote.
|
WHAT ABOUT THE INTEREST ONLY LOANS?
|
|
Interest only loans have become extremely popular. Many borrowers can borrow up to 95% of the value of their home without mortgage insurance at extremely low rates--as low as 1.25%. If you are interested in minimizing your monthly payment, an interest only loan may be right for you.
|
WHEN ARE TWO LOANS BETTER THAN ONE?
|
|
Often, borrowers save substantial money by obtaining a first and a second mortgage, rather than one first mortgage with mortgage insurance. These programs are helpful for borrowers with less than 20% equity.
|
CAN I REALLY BUY WITH NOTHING DOWN?
|
|
We have several options for 100% financing. Please contact us for details.
|
WHO IS FREEHOMELOAN.COM?
|
|
We are a full service mortgage brokerage doing business in Utah, Idaho, California, New Mexico and Colorado. We are constantly adding new states, so please check back later if you need assistance oustide of our business area.
|
LEGAL DISCLOSURES
|
|
The 1.25% interest only advertised on the home page is fixed for 1.25% for the first month and then adjusts to the fully indexed rate. Based on a margin of 2.5 and a LIBOR index at 1.3, the fully indexed rate would be 3.80. On a loan amount of $250,000, 30 year term, the APR would be 3.85%.
|
