Here at Streamline Mortgage we understand that buying a home can seem overwhelming, which is why we want to be there with you every step of the way. We are a team of highly professional and experienced individuals who value clear communication, an expedited process and a personal approach. At Streamline Mortgage we offer a concierge service of thought out plans that are personal and specific to what you need. We believe that your needs should always come first as you are the one buying a home. It’s as simple as that.
A Breakdown of the Loans We Offer
Click Here for a Breakdown of the Loans We Offer
A great option for first time home owners, a conventional loan comes with a variety of down payment options and advantages for bowers who qualify. A conventional loan might be a good fit if you have a high credit score and are able to put a large amount of the cost of the home down as a down payment. This type of loan is the easiest way to save money on your monthly mortgage bill in the long term and would most likely go through a private lender.
Are you dreaming to upgrade to a more high-end home in one of the nation’s pricer housing markets? Our jumbo loans will enable you to borrow more than conventional loans and with interest rates that are more competitive. If you have excellent credit and can put down anywhere between 10 to 20% down payment, a jumbo loan might be the perfect option for you.
Prospective home owners who want to buy a home but might not have a lot of money saved up for a down payment or closing costs should look into an FHA loan. A FHA (Federal Housing Administration) loan offers fixed-rate mortgages, adjustable-rate mortgages, and home equity conversion mortgages. Streamline Mortgage can talk you through which type of FHA mortgage is the right fit for you. Our FHA loans only require 3.5% down payment with fewer rates that will make your dream of being a home owner a reality.
If you are a service member, veteran or eligible surviving spouse, Streamline Mortgage wants to make it our goal to help you become a home owner. That is why VA loans at Streamline Mortgage offer a $0 down payment with flexible rates and loan limits. VA loans were first introduced as part of the GI Bill in 1944, are supported by the U.S. Department of Veteran Affairs and are issued by a private lender. 8% of home purchases in the first quarter of 2019 were obtained with a VA loan.
Private Mortgage Insurance (PMI)
Vs. Mortgage Insurance Premium (MIP)
When taking out a mortgage with a lower down payment, PMI protects lenders from risk of a default payment on a loan or foreclosure. PMIs also allow buyers who cannot afford a high down payment to obtain a mortgage at affordable rates. The loan amount will determine the cost of a PMI, but it would usually cost about 0.5% to 1% of the loan amount.
If you are applying for an FHA loan and your down payment is less than 20% you will need a Mortgage Insurance Premium or MIP. MIP can be assessed upfront by the FHA at closing, or can be calculated annually and paid in 12 installments. The payment amount will depend on the amount of the loan.
We are here to help you throughout the entire process and answer all your questions. Contact Streamline Mortgage and we can start crafting your personal plan for applying for one of our offered mortgages.
THE POWER TO CONNECT
Adhering to our core values that buying a home should be straight-forward, efficient and personally catered to your needs, we will happily refer you to professionals in the industry at absolutely no additional cost to you. In our team’s combined years of experience that spans decades, we have met and worked personally with people that we trust. Professionals that value efficiency, fairness and transparency just like all of us here at Streamline Mortgage.
We are more than happy to refer you to
- Top-producing Realtors to help you find your new home.
- Industry-leading financial advisers to answer all your questions about your personal finances.
- Estate planning attorneys to assist with your will or trust.
- Real estate attorneys to talk through all the legalities around your new mortgage
- Certified Public Accountants (CPAs) to help with your taxes and financial needs.
- Home inspectors to make sure the home you want to by is in excellent condition.
- Homeowners insurance companies to help you assure your home is safe and secure for the future.