Anew Lending Mortgage, a reliable mortgage broker in Sacramento, CA is available for your residential mortgage needs.
It will help you figure out if you're eligible for a mortgage, and guide you on the application process.
So, whether you're just starting to explore your home-buying options or you're ready to apply for a mortgage, Anew Lending Mortgage is here to help.
Types of Residential Mortgages
1. Fixed-rate mortgage
With a fixed-rate mortgage, your interest rate will stay the same for the life of the loan. This is a good option if you want stability, because you'll know exactly how much your monthly payments will be.
2. Adjustable-rate mortgage (ARM)
With an adjustable rate mortgage, your interest rate will change periodically, usually in relation to an index. This means that your monthly payments could go up or down, depending on market conditions.
An ARM might be a good option if you're planning on staying in your home for a shorter period of time, or if you expect your income to increase over time.
3. FHA loan
An FHA loan is a government-backed loan, which means that the down payment requirements are typically lower than with a conventional loan. With an FHA loan, you'll also pay private mortgage insurance (PMI) if your down payment is less than 20%.
4. VA loan
A VA loan is a loan available to veterans and active duty military personnel. VA loans typically have no down payment requirement and come with lower interest rates than other types of loans.
How to Qualify for a Residential Mortgage
To qualify for a residential mortgage, you'll need to have a steady income and a good credit score. You'll also need to be able to prove that you have the financial ability to make the monthly payments. Here’s a simple checklist to help you:
- Figure out how much you can afford to spend on a home.
- Start a mortgage application process.
- Go through a home appraisal and close the process.
Where to Find the Best Residential Mortgage Lender in Sacramento, CA
If you reside in Sacramento, CA and need a trustworthy residential mortgage lender, Anew Lending Mortgage is your best bet.
It is dedicated to making every customer’s home loan experience a positive and successful one. If you're a new home buyer, there's a lot to learn about the process.
Anew Lending Mortgage is a great resource for everything you need to know about residential mortgages. Its experts can help you find the best rates, understand the real estate market, and get the process started.
Visit its official website or call 916-655-9325 to speak with a professional broker.
