Since the mortgage industry has become very credit score driven, very low or no down payment programs are readily available to excellent credit customers. If your credit has a glitch or two, programs are still available with low down payments. Fixed rate mortgages have interest rates that are fixed over the life of the loan, whereas the rates on adjustable rate loans are linked to an index and change as the index rate changes. Adjustable rate loans are best for borrowers who do not plan on keeping the loan for the full term. Contact us for more information on adjustable rate mortgages.
Discount points are a one-time fee paid to lower the interest rate.
One discount point is equal to one percent of the loan amount. Please contact our Mortgage Professionals to discuss your recovery periods, as it usually takes about 5 years to recover this investment. At Eagle Mortgage Group, Inc. we are dedicated in providing mortgage financing for borrowers with good, bad and ugly credit backgrounds. Don't let your credit problems in the past keep you from contacting our Mortgage Professionals about a new home loan or mortgage refinance. Most of our clients are approved for a new home loan they never imagined they were qualified to obtain.