Refinance Products offered by Lendability.com
Decide for yourself what refinance product is best for you.
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Refinance Products Select from the products below. |
What you want in your mortgage | Fixed Rate Option? |
+ Advantages | - Disadvantages |
| We do not offer, nor do we believe in Negative Amoritization loans! | ||||
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Standard 30 Year Fixed Rate The loan your Mom and Dad had. No bells, No whistles! Also avaible in 10,15,20,25,40 year terms. |
A fixed rate with little worries |  |
Security of knowing your rate can't change | Does not always offer the lowest payment |
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Jumbo Loans Bigger loan amounts that are privately insured. |
A loan amount of 417,000 or above | |
No mortgage insurance Competitive rates |
Max loan to value of 80% Underwriting is very stringent |
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FHAbility A Government insured loan |
Low rates available even if you have less than perfect credit or high loan to value | |
Credit/Equity doesn't affect your rate | Government insured loans require Mortgage Insurance |
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Adjustable Rate Mortgage (ARM) This product has received a negative reputation in recent times. Much of it unwarranted. |
The lowest possible payments while still paying down your principal balance | Afford a bigger mortgage with same or lower payment. Perfect for anyone not planning to be in home for a long time | Rate adjusts after 3,5,7, or 10 years Most people choose to refinance after the rate changes |
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Debt Consolidation / Cash Out Loans Get rid of high interest credit cards |
Usually a long term loan that gets borrowers out of high interest rate debt | |
Gets you out of debt Improves Credit Score |
This is almost always a good idea and doesn't have many disadvantages |
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Interest Only Options Can lower your payment even more! |
The lowest possible payment regardless if your rate is fixed or adjustable | |
Good for homeowners with equity Great if you don't plan on being in the home long! |
Your principal will never be paid down. You will always owe the same amount on your mortgage |
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Say Goodbye to PMI Loan SGP Program |
No Mortgage Insurance even over 80% LTV! | |
Avoids PMI. Easier to qualify in certain cases than loans with PMI. | Typically comes with a higher rate than loans that have PMI. |
If you would like to speak with a Lendability.com qualified advisor please call 1.877.552.2454
