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There is no cost when you apply for a loan with mysimplehomeloan.com.
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If your loan application meets your needs and has been determined to meet our minimum loan qualification guidelines you will pay for your appraisal prior to closing.
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Rates depend on many factors. Credit is one of those factors. Some other factors include the amount of equity in the property, the level of income documentation provided and the debt level you have as compared to income. Until we understand the structure of your specific loan and the loan is approved, the interest rate can only be estimated. Our goal is to provide you with the lowest interest rate possible so we can earn the business of you and your friends in the future.
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We have several loan options available to finance up to 100% and avoid paying PMI. We can set you up with two loans, normally called an 80-20 program, or do one loan with lender paid mortgage insurance.
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An interest only loan should really be described as an interest only OPTION loan. Each month when you make your mortgage payment you have the option of paying principal plus interest or simply the interest. This can help greatly if you have significant financial obligations in addition to your home payment or if you are looking to afford more home with a lower payment. There are interest only option loans available for purchase or refinance. They come in the form of fixed rates or adjustable rates.
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We can finance investment property and even have programs up to 100% financing.
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This is depends on what type of bankruptcy you have, Chapter 7 or 13 and when the bankruptcy occured. Having a bankruptcy does not disqualify you from a new mortgage. One day out of a Chapter 7 bankruptcy and you may qualify for a refinance. While you are in Chapter 13 you can refinance as long as your payments have been made on time.
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Judgments and tax liens do not disqualify you from obtaining a new mortgage. Please talk with one of our mortgage consultants to see if you qualify.
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Even with bad credit there are programs with 100% financing on a conventional mortgage. We also offer FHA loans with 97% financing
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If you are currently behind or have recently been behind on your payment we have many programs to help you refinance your home. Situations such as these require a more detailed analysis, please call one of our mortgage consultants to see if we can help.
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