Purchasing A Property

Whether you are shopping for a new property or have just signed a contract Network Mortgage can help you obtain financing that is right for you.

For most of us, a new property is the largest purchase we’ll make in our lives, and we at Network Mortgage want to make this the smoothest and most stress-free process it can be. Our combination of honesty, integrity, and industry expertise is what has kept us in business for all these years and keeps our customers returning and referring their friends and family.

• How much of a down payment are you looking to deposit?

• Will the property be your new primary residence, a second home, or an investment property?

• What type of property are you looking to buy?

• Is it for example a single family home, townhouse, condo, commercial space, or multi-unit building?

• How much do you want to spend on your monthly payments?

If you have already signed a contract or have a specific property in mind, contact Network Mortgage to start your loan application process today.

If you are still shopping for a property it is helpful to schedule a meeting with a Mortgage Consultant in advance and get pre-approved. This process requires a credit check, and verification of your income and assets, but it is fairly simple and it will allow you to comfortably shop knowing in advance the maximum amount you can afford.

Pre-approval also puts you in a stronger negotiating position with Sellers. Sellers will appreciate that your offer is pre-approved and they will know that this will allow you to close quicker and streamline your final approval process.

Refinancing

A Refinance replaces an existing loan with a new loan offering a definite benefit to the homeowner. Network Mortgage offers an array of financing options for your next refinance.

Including Conventional, FHA, VA, Commercial, Jumbo, HELOCs, Fixed Seconds and more, there are plenty of loan types that can be customized to suit your needs. Network Mortgage is a licensed mortgage broker and works with many different banks to ensure that we get you the best program for your situation.

At Network Mortgage we strive to make refinances as convenient and easy as possible. We offer our expertise and guidance, and we will answer every question you have, but we also understand that you have been through this before and we are here to accommodate your busy schedule.

A refinance can be done for several reasons. You may want to:

• Get a lower interest rate and reduce your monthly costs

• Convert an adjustable rate mortgage to a secure fixed rate mortgage

• Consolidate your existing first and second mortgages into one mortgage with an overall lower rate and payment

• Get cash out to obtain money for home repairs, major life expenses like college tuition, payoff credit cards or payoff higher interest debt to lower your overall expenses.
   

Whatever your reason, our Mortgage Consultants are here, and ready to help. We look forward to speaking with you. Contact us today.

FHA & VA Mortgages

FHA (Federal Housing Administration) Loans have been around for years and Network Mortgage has been a licensed FHA broker since 2000. Some of the benefits of obtaining an FHA Loan are:

• Low down payments

• Low closing costs

• Easy credit qualifying
   

FHA might be just what you need. Your down payment can be as low as 3.5% of the purchase price. FHA financing is available on 1-4 unit properties, including condos and townhomes. FHA allows up to 6.0% seller credit to be applied toward closing costs and pre-paid items like tax escrows and per diem interest, minimizing your out of pocket expense.

FHA has a loan that allows you to buy a home, fix it up, and include all the costs in one loan. Or, if you own a home that you want to re-model or repair, you can refinance what you owe and add the cost of repairs - all in one loan.

Network Mortgage has also been a licensed VA (Veteran’s Administration) Loan broker since early 2000. VA loans are available only to Veterans and Active Duty Service Personnel who have served a minimum of 181 days.

FHA and VA loans are available to all those who qualify. For further information regarding either FHA or VA Loans contact aNetwork Mortgage Consultant.

Commercial Mortgages

Commercial loans are loans that are used by different types of business entities. In some cases, the commercial loan is used to purchase space to move a new or existing business into operation. In other cases new machinery or equipment that is directly related to the operation of the business can be purchased through the loan. 

Other commercial loans can be obtained when buying an apartment building that has more than four units. Any building which contains over four units is classified as commercial property and financing for these types of properties is available.

We are experienced in all types of real estate lending, including commercial and industrial properties. Here is a sample of some of the loans available. Please call one of our expert consultants so that we can find the right loan for you.

Commercial Real Estate Loans:

• Commercial, Industrial and Residential Acquisition Loans

• Revolving Lines of Credit

• Commercial, Industrial and Multifamily Construction Financing

• Commercial, Industrial and Multifamily Mortgage Financing

• Interim Residential Financing

• Land Acquisition and Development Loans

• Rehabilitation Loans

• Residential Mortgage Financing

• Small Business Administration (SBA) Commercial Mortgage

Jumbo Loans

A Jumbo Loan refers to a loan which exceeds the loan limits set forth by the Conforming lending agencies, Fannie Mae and Freddie Mac. Network Mortgage offers Jumbo Loan financing options in order to refinance or purchase on higher priced properties. Whether you’re looking for an ARM (adjustable rate mortgage) loan to keep your payments low or the security of a fixed rate, Network Mortgage has a loan program to suit your needs.
 

Contact a Mortgage Consultant today to find out how to apply for a Jumbo Loan.

Home Equity Loans

Home Equity Loans and Home Equity Lines of Credit allow the extra value or equity in your home to finance other needs. Whether you are looking for a fixed loan amount that carries a fixed rate or a revolving line of credit with a variable rate Network Mortgage has the program for you.

A Home Equity Loan is the perfect product for individuals who want a fixed rate loan with a specific monthly payment.

Home Equity Loans Offer:

• $10,000 minimum loan amount

• Flexible terms for repayment available (5, 10, 15, and 20 year terms)

• No application fee

• Interest may be tax deductible
   

A Home Equity Line of Credit is for individuals who want an adjustable rate loan with a convenient, affordable line of credit.With either choice the funds can be used to:

• Finance Home Improvements

• Refinance existing Line of Credit

• Payoff high rate credit cards

• Tuition expenses

• New car or use for down payment money towards a new property purchase

• Or any other life expenses that come your way

Home Equity Line of Credit:

• Adjustable rate indexed to Prime (there are lines that allow for you to lock into a fixed rate after a draw)

• $10,000 minimum loan amount

• Convenient check or credit card access

• No application fee

• Low annual fee

• Interest may be tax deductible

• As a revolving line of credit; the line becomes available again as you pay it down

• Pay interest only on the amount that you use
   

Contact Network Mortgage to today to learn more.