Refinancing your home loan enables you to replace your existing home loan with a new home loan with better terms while giving you the opportunity to get cash back from the equity you have built in your home. Using equity in your home can help you improve your overall financial well-being and pay off high interest loans, debts, and credit cards. A mortgage refinance might be right for you if you:
- Want to lower your current mortgage interest rate
- Want to get cash out
- Want to consolidate debt
- Need to pay off credit cards
- Want to make home improvements
- Need cash for medical expenses
- Need money for college tuition
A home purchase loan allows you to get the home you want with a payment that fits your budget. First time buyers have many options when it comes to buying their first home. We can help you choose the right program, price range, and even direct you to the right Realtor in your area.
Fixed Rate Loans
Fixed rate loans come in different types. The most common fixed rate loan program is the 30 Year Fixed Rate. However, 20 Year Fixed, 15 Year Fixed, and 10 Year Fixed loans are also popular. Fixed rate loans offer the security of an interest rate and payment that will never change. You are ensured a consistent monthly payment
Adjustable Rate Mortgage (ARM)
Adjustable rate mortgages have interest rates that change at a pre-determined time. This option might be right for you if you:
- Anticipate an increase in your income or property value in the next few years
- Only plan on staying in your home for a short period of time
- Would like to considerably lower your monthly payment
This particular kind of loan is exclusively for active military and veterans. It is backed by the Veterans Administration and offers unique benefits that are not available to the general public. This loan program offers veterans 100% financing and often requires no down payment. There is no Private Mortgage Insurance and no penalties if you prepay the loan. Additionally, competitive interest rates are available and loan qualification is sometimes easier than if you were applying for a conventional loan.
Federal Housing Administration (FHA) Loans
Under this loan program, families that would otherwise be excluded from the housing market are finally able to buy the home of their dreams. An FHA loan allows you to buy a house with as little as 3.5% down. This is a great loan option for first time buyers, or anyone with a shortage of down payment funds. This option might be right for you if you:
- Have had a few “credit problems”
- Have no credit history
- Have filed bankruptcy in the past
These materials are not from HUD or FHA and were not approved by HUD or a government agency
COASTAL PACIFIC LENDING INC.
1100 Town & Country, Suite 1250
Orange, CA 92868
Loans made or arranged pursuant to Real
Estate Corporation License Endorsement
#01920457, California Bureau of Real
Registered Mortgage Lender. Regulated
by the Colorado Division of Real Estate.
Mortgage Lending License #ML-5169
TEXAS - SML:
Mortgage Company Licensee.
Coastal Pacific Lending, Inc.
4925 Greenville Ave. Suite 200
Dallas, TX 75206
Coastal Pacific Lending, Inc.
3100 W Ray Rd Suite 201
Chandler, AZ 85226