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home equity loans - New Mexico NM: Loans & Mortgages :: Refinancing :: Bad credit loans :: First time buyers home loans :: Advice on the best loan for you :: Mortgage advisor.

Stated income mortgage products: In qualifying for these products, the lender will not require you to provide standard explanations of your income, such as tax returns. This means that there is no verification of your income, but you must state the source of your income. Individuals likely to be interested in a stated income loan are typically self-employed or individuals who write-off a large portion of their income such as contractors, waiters & waitresses.

What is refinancing, and when should I apply for it? Refinancing involves obtaining a new mortgage loan on a property already owned - often to replace existing loans on the property. When the mortgage rates are low, it may be a good time to refinance. Refinancing can save you money on your monthly mortgage payments.

LOAN offers the following stated income loans: Term Loan to value 30 Year Fixed (30 year) Up to 100% 15 Year Fixed (30 year) Up to 100% 7 Year Fixed (30 year) Up to 100% (conforming only) 5 Year Fixed (30 year) Up to 100% (conforming only)

An account set up by the lender into which the borrower makes periodic payments, usually monthly, for taxes, hazard insurance, assessments, and mortgage insurance premiums.

How is my interest rate calculated? The initial interest rate on your loan was determined by the competitive market of rates in the mortgage lending industry for your particular ARM product at the time your loan was originated.

Why should I buy a home?

If the seller wishes to be released from liability on a loan which is freely assumable, the buyer and seller may request we complete a qualifying assumption. If we give credit approval of the buyer, we will release the seller from liability.

What Is A Mortgage?

These words may ring a bell or seem completely foreign. But they are very important concepts to understand when applying for a loan.

What Are The Advantages Of 15- And 30-Year Loan Terms?

home equity loans - New Mexico NM