One of the most important aspects of the mortgage loan process is selecting the best mortgage product – because if you pick a loan that does not fit your own unique situation and requirements, you could end up being saddled with unnecessary expense. At An Opportune, Inc. we will work with you to make sure that the loan you select is based on factors including your age, income, employment prospects, reserves and approximate length of time you plan to live in the property, to name a few.
Our experienced brokers will add value to your mortgage loan transaction, whether in the form of ensuring that you get a lower interest rate or lower closing costs. We will also help you navigate through the process and provide support should issues arise. Here are the most popular mortgage products we offer our clients.
This is the most common mortgage loan choice for most people. You know what your monthly payment will be for the next 30 years. You know what to expect, and there are no surprises. The interest rate is higher and the repayment period is longer than with a 15-year fixed mortgage loan, but the monthly payment is lower. The 30-year fixed is a great mortgage product if you are not certain about how long you will retain the property and if you want stability that comes at a higher cost. It is almost as if you are buying insurance to minimize payment and rate-fluctuation risks.
This a great mortgage product for those who do not mind making a higher monthly payment in return for saving a significant sum in interest compared with the rate of a 30-year fixed. If your goal is to pay off your house as quickly as possible in order to get ready for retirement or to build equity in your property more quickly, then this may be the right choice for you. If you can afford the higher monthly payment, then this is, by far, the least expensive option.
If you are a bit more of a risk-taker who thinks that the interest rate will come down, and if you are willing to take this chance to obtain a somewhat lower rate (in many instances, but not all) in the initial fixed option period of your loan, then this product is for you. Also, if you are not planning to stay in the property for a longer period of time than your initial fixed option, then there is no need for the additional security (and sometimes cost) of a 30-year fixed loan.
In addition to these three popular options, we offer many other available products at An Opportune, Inc. These include government FHA loans, Non-Qualified Mortgage loans, No Ratio loans (which don’t require income disclosure – yes, they are back), and many other products that we may recommend to our clients.
To date, we have a perfect record of 41 five-star Google reviews from clients who have received our help and loved what we have done for them. Let us be your guide through the maze of mortgage lending. Contact us at An Opportune, Inc. when you’re ready to begin your journey to homeownership.