Since 1996 SIGMA Mortgage Corporation has been a leader in Colorado lending. We offer a wide variety of financing options to fit your individual needs including Conventional, FHA, VA home loans. Whether you need money to consolidate high interest credit card debt, make home improvements, or just want to save on your monthly mortgage payment through a refinance, Metrolink Mortgage Corporation has a V.A. loan to fit your needs.
Cash-Out Refinances are used to pay off debt through refinancing a principal residence. The owner can refinance for up to 100% of the appraised value of the home. There is no minimum amount of time that you must own your home. Additionally, these loans are available at no cost to the homeowner or with the costs rolled into the loan at a lower rate.
Cash-Out Refinances are used to pay off debt through refinancing a principal residence. The owner can refinance for up to 100% of the appraised value of the home. There is no minimum amount of time that you must own your home. Additionally, these loans are available at no cost to the homeowner or with the costs rolled into the loan at a lower rate.
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Sigma Mortgage Corporation is committed to finding the right mortgage to make your dream of home ownership a reality. By analyzing your needs you can have the mortgage that best suits your situation. Years of experience and professional guidance will help you navigate the sea of mortgages including conventional loans, jumbo loans, government loans and second mortgages.
A conventional loan typically follows the guidelines of government sponsored enterprises, such as Freddie Mac and Fannie Mae. They require a higher qualification level and are more credit dependent. They also provide the best payment options. In order to qualify, your monthly costs must meet a specific percentage of gross monthly income and require a credit check.
FHA loan programs offer more flexibility for home buyers. FHA loans have a lower interest rate and low mortgage insurance. They also require a smaller down payment, which is 3.5%. Monthly housing costs must be less than your gross monthly costs. The ratio is 31%. The credit requirement is more flexible.
A second mortgage is essentially a second loan against the same property. There are two kinds of second mortgages: home equity loans and home equity lines of credit. The home owner is borrowing against the money that has already been put into the home. A home equity loan is when a lender gives you a lump sum of money and you pay the amount back over a scheduled period of time.
Also, known as a home equity conversion mortgage, or HECM, a reverse mortgage is a type of home equity loan for homeowners 62.5 or older. It does NOT require monthly mortgage payments. The loan is repaid after the borrower moves out or dies. A: If you are in retirement and looking to supplement income, pay for health care expenses, pay off debt or reduce monthly obligations.
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