We Strategize Your Mortgage Loan Programs, Not Just Run Your Name Through a System
IEI provides conventional mortgage loans which is not insured or guaranteed by the federal government, which makes it vary from programs like USDA, VA and FHA. These flexible loan programs allow borrowers to get lower rates and commonly avoid PMI or mortgage insurance that involves a higher down payment.
A common and popular loan, the Federal Housing Administration (FHA) mortgage is managed by the Department of Housing and Urban Development (HUD), which is a division of the federal government. These type of loans are most popular with first-time homebuyers because of the low down payment option, FHA loans are available to all types of borrowers.
Types of Refinance Options Available
This is the most common type of refinance program, where the original loan amount is paid off and replaced with a brand new loan with a new rate and group of terms. This type of refinance is ideal for those home owners that are looking to lower their mortgage rate or change loan programs to fit their ideal need.
What is a Cash Out Refinance?
If you own a home and you’re in need of cash, a cash-out refinance might be the solution to leverage your home’s value to take advantage of the cash you need. It involves pulling out equity from your house, which resulting in a higher loan balance be cause of the cash out. Ideally, homeowners can pull out cash and get a lower interest rate all at the same time to counter act the higher loan balance. Usually home owners use this cash to renovate their homes, lower debt and pay off credit cards, use it for family emergencies or something that will help their situations.
IEI Realty and mortgage fancy ourselves in treating our clients like humans and not just another number waiting to be served. That is the prime difference from us and any other bank, we are people based. We have often helped clients with out of the unique financial Situations that requires more experience than what traditional banks offer. Our prime goal is to establish a long-lasting trust and relationships with each of our clients so that we may continue to offering our mortgage service for years to come.