Solutions Home Mortgage

Solutions Home Mortgage, Inc. strives to ensure that its services are accessible to people with disabilities. Solutions Home Mortgage, Inc. has invested a significant amount of resources to help ensure that its website is made easier to use and more accessible for people with disabilities, with the strong belief that every person has the right to live with dignity, equality, comfort and independence.

A standard conventional or sometimes referred to as a conforming mortgage is a traditional mortgage offered by private lenders. Conventional loans are required to meet the lending guidlines or Fannie Mae and Freddie Mac. Minimum credit score is 620 and require a minimum of 5% downpayment.

FHA home loans are mortgages which are insured by the Federal Housing Administration (FHA), allowing borrowers to get low mortgage rates, lower down payment, lower credit score requirements, and higher sellers concessions.VA loans are mortgages guaranteed by the Department of Veteran Affairs. These loans offer military veterans exceptional benefits, including low interest rates and no down payment requirement.

The first step in obtaining a loan is to determine how much money you can borrow. In case of buying a home, you should determine how much home you can afford even before you begin looking. By answering a few simple questions, we will calculate your buying power, based on standard lender guidelines.

It's generally a good time to refinance when mortgage rates are 2% lower than the current rate on your loan. It may be a viable option even if the interest rate difference is only 1% or less. Any reduction can trim your monthly mortgage payments. Example: Your payment, excluding taxes and insurance, would be about $770 on a $100,000 loan at 8.5%; if the rate were lowered to 7.5%, your payment would then be $700, now you're saving $70 per month.