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Friday, January 15, 2016
Is a New Home on Your Radar for Summer?
- Sensible Underwriting
- Unique Products
- Competitive Rates
- Amazing People
- Starting at 2.75%, your rate is locked in for the first 5 years, only adjusts every 5 years and increases by no more than 1% at each adjustment.* This rate is less than most 30-year fixed mortgages – and the rate may not increase at all. It’s likely your rate will stay below most 30-year fixed loans for the first 10 years!
- Get more house for less! The lower rate gives you $50,000 more in buying power for the same monthly payment than you would get with a 30-year fixed mortgage.
Own a home for the same price as rent? Yes you can!
• Our Mortgage Loan Officers can help you finance a mortgage for the same monthly payment as your rent. Signal’s low interest rates and favorable loan terms make borrowing for a home simpler and cheaper than with many other lenders.
• Don’t let lack of down payment funds keep you from buying a home. Our 100% financing allows qualified borrowers to add the down payment to their mortgage loan package.
Ready to refinance? Bring us the numbers . . . we’ll help you decide!
• Determine your goals for refinancing. Need a lower monthly payment? Trying to pay off your loan sooner? Access equity with a cash-out refinance? Switch from an adjustable rate to a fixed rate?
• Assess the value of your home. Find out approximately what your home is worth by going to www.eppraisal.com or www.zillow.com. Both sites can provide a rough estimate as to property values in your neighborhood. (Remember that an appraisal is a requirement for refinancing.)
• Decide how long you’ll be in your home. If you expect to remain in your home for at least two years, you will likely recoup the closing costs of refinancing. There are many options available, and our mortgage professionals are eager to help members into more affordable loans when it makes sense for them to do so. Call us today!
Call 301-933-9100, visit our Mortgage Center or call 301-933-9100, ext. 104.
*APR= Annual Percentage Rate. The 5/5 Adjustable Rate Mortgage currently has a rate of 2.75% APR for years 1-5, then can adjust no more than 1% for each 5-year period thereafter. Example: Borrow $100,000 @ 2.75% = $408.25/mo payment (first 60 months; APR= 2.8606%). Principal balance of $88,074.80 @ 3.75% = $407.88 (next 60 months). Rate is variable and may increase by no more than 1 percentage point every 5 years. Based on an 80% LTV without Private Mortgage Insurance (PMI) or taxes. Payments may be higher.