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FINANCING SERVICES

WRG Luxury Properies, Inc. has cultivated a number of special banking relationships and auction contacts.
As a qualified buyer, Natalia West and her team has an extensive list of financial institutions that can work with you to secure that your acquisition becomes a reality. Contact Natalia, Derek or a member of the sales team for details on how you can live the dream.


 

30 Year Mortgages - 30 year mortgages are the standard traditional mortgage.
Note: 30 year mortgage loan amortization comparison calculator results do not include property taxes, home owners insurance or possible PMI (private mortgage insurance).
 
Conventional Loans:

Conventional loans are mortgage loans offered by non-government sponsored lenders. These loan types include:

  • Fixed Rate Loans
  • Adjustable Rate Loans (ARMs)
  • Combination (Hybrid) Loans
  • Balloon Mortgages and Pledge Asset Loans
  • Jumbo / Construction Loans
  • Reversible Mortgage

 

FHA Loan:

FHA mortgage loans are issued by federally qualified lenders and insured by the U.S. Federal Housing Authority, a division of the U.S. Department of Housing and Urban Development.

FHA loans are an attractive option, especially for first-time homeowners:

  • Generally easier to qualify for than conventional loans.
  • Lower down payment requirements.
  • Cannot exceed statutory rate limits.

Learn more about FHA loans. (Department of Housing and Urban Development)

Apply for your FHA loan with our HUD-qualified lenders. (RATE QUOTE LINK)

 

 

Jumbo Loans:

Jumbo Loans exceed the maximum loan amounts established by Fannie Mae and Freddie Mac conventional loan limits. Rates on jumbo loans are typically a little higher than conforming loans. Jumbo Loans are typically used to buy more expensive homes and high-end custom construction homes.

 

 

Fixed Rate Mortgage:

With a fixed rate mortgage, the interest rate does not change for the term of the loan, so the monthly payment is always the same. Typically, the shorter the loan period, the more attractive the interest rate will be.

Payments on fixed-rate fully amortizing loans are calculated so that the loan is paid in full at the end of the term. In the early amortization period of the mortgage, a large percentage of the monthly payment pays the interest on the loan. As the mortgage is paid down, more of the monthly payment is applied toward the principal.

A 30 year fixed rate mortgage is the most popular type of loan when borrowers are able to lock into a low rate.

Benefits:

  • Lower monthly payments than a 15 year fixed rate mortgage
  • Interest rate does not go up if interest rates go up
  • Payment does not go up, it stays the same for 30 years

Drawbacks:

  • Higher interest rate than a 15 year fixed rate mortgage
  • Interest rate stays the same even if interest rates go down

A 15 year fixed rate mortgage allows you to pay off your loan quicker and lock into an attractive lower interest rate.

Benefits:

  • Lower interest rate
  • Build equity faster
  • If interest rates go up, yours is fixed

Drawbacks:

  • Higher mo Interest rate stays the same if interest rates go down
  • Interest rate stays the same even if interest rates go down

 

 

VA Loan:

Designed to offer long-term financing to American veterans, VA mortgage loans are issued by federally qualified lenders and are guaranteed by the U.S. Veterans Administration. The VA determines eligibility and issues a certificate to qualifying applicants to submit to their mortgage lender of choice. It is generally easier to qualify for a VA loan than conventional loans.

Here's how it works:

  • 100% financing without private mortgage insurance or 20% second mortgage.
  • A VA funding fee of 0 to 3.3% (this fee may be financed) of the loan amount is paid to the VA.
  • When purchasing a homeveterans may borrow up to 100% of the sales price or reasonable value of the home, whichever is less.
  • When refinancing a home, veterans may borrow up to 90% of reasonable value in order to refinance where state law allows.

 

 

 

 

 
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