The Federal Housing Authority (FHA) insures loans against default, protecting both lenders and borrowers. It neither makes loans directly nor sets the interest rates on loans it insures. FHA insured loans can be used to purchase new or refinance existing 1-4 family homes, condominiums, or mobile or manufactured homes on a permanent foundation.

Easier to Qualify

Less than Perfect Credit

Low Down payment

Costs Less

The VA Loan allows Veterans 100% financing without private mortgage insurance or a needing to obtain a 20% second mortgage. The guarantee of a VA Guaranteed Home Loan means the lender is protected against loss if you fail to repay the loan. Because the guaranty replaces the protection that the lender normally receives by requiring a down payment or mortgage insurance, qualified borrowers are allowed to obtain favorable financing terms without a down payment.

The VA Streamline Refinance allows qualified VA mortgage holders to refinance at a lower interest rate and/or term without having to re-qualify and obtain another appraisal. It provides an important ongoing benefit to borrowers who decided on a VA loan.

The majority of customers need not look further than the 30-year fixed. At Mortgage Planners Inc, we consider the 30-year fixed a staple of our mortgage offerings. Since mechanically, all 30-year fixed rate loans are the same; the rate is paramount to choosing the right one. Since our competition has higher fixed rates they will often sell you an alternative product. Do not be sold into a different product for the wrong reasons.

Adjustable Rate Mortgages are an increasingly popular way to leverage your mortgage buying power and minimize your monthly payments. If your plans are to be in your home for a limited number of years an adjustable could be the right choice for you. Unfortunately when you go with an ARM your decisions are not over. Unlike the fixed rate mortgage all adjustables are not created equal!

Index, margin and caps are integral parts of any adjustable. Recently a whole new set of indices such as cofi, libor and mta have proliferated. There are also some potential hazards to avoid such as negative amortization and prepayment penalties.

At Mortgage Planners Inc we insist you understand the product you receive. It is only then, that you can make an educated choice between fixed and adjustable.

Mortgage Planner Inc offers a variety of programs targeted towards qualifying borrowers and properties. Typically, any low income to moderate-income borrower or property in a low or moderate census tract may be eligible for a rate reduction. These reductions can be as significant as one (1) full percent on the interest rate. Additional benefits may include added underwriting flexibility, minimum down payment requirements, etc. Ask your Mortgage Planners Inc loan counselor to investigate these programs for you.