Financing Info
At Homeowners Mortgage, LLC we believe that the dream of homeownership can be a reality.
Our mission is to support our clients and instill confidence in them throughout their homebuying journey. From pre-qualification to closing day, we’ll provide the tools and resources to make the home loan process simple and stress-free. As a joint venture with Homeowners Mortgage, LLC and United Homes Group, we are able to deliver our clients award-winning service and proven expertise in new construction lending. After all, it’s not only a new home, it’s an important investment that will have a significant impact on their family for years to come.
We’re Passionate About Our People
our clients, our employees, and our partners.
What We Do
We combine award-winning teamwork with industry-leading technology to provide a smooth and efficient loan process, working together to provide top-tier home financing to our clients.
Who We Are
We are a team of experienced mortgage professionals committed to delivering exceptional customer service and providing a personalized approach to fit our client’s needs.
Ready to Buy Your Home?
We’re here to help you buy the home of your dreams. From getting pre-qualified to finding the perfect place to call your own, buying a home is one of the most exciting decisions you will make. Understanding the home buying process can help give you peace of mind. So can partnering with a mortgage lender you can trust. Homeowners Mortgage, LLC is here to help you along the way!
Find Out What You Can Afford:
The first step in the home buying process is understanding how much money you can borrow. At Homeowners Mortgage, LLC we can help to determine your buying power and how much you can afford.
Select Your Dream Home:
Once you’ve connected with the team at Homeowners Mortgage, LLC, it’s time to find your dream home! Your Great Southern Homes sales agent will guide you throughout your homebuying process to help find the perfect home for you!
Start the Loan Process:
When you’ve found your dream home, it’s time for us to get to work! Your loan application is reviewed to make sure all the required documents for your loan are in. You may need to provide additional documentation, so it’s a good idea to keep a folder of all your files together. Creating a smooth process will help your loan paperwork flow more efficiently, bringing you closer to closing day!
Welcome to Your New Home:
You’re almost there! Once your home and loan are ready, Homeowners Mortgage, LLC provides you with all the final details you need, like your final closing disclosure, what to bring to your closing, and the funds needed at closing. All that’s left is signing the final loan documents and receiving the keys to your house. Welcome home!
Loan Programs
Mortgages come in a variety of options and the right loan program for your neighbor may be different than the one that’s right for you.
Different loan programs incorporate different interest rate guidelines, required deposits, and more. Choosing the loan that works for you takes time, knowledge, and experience. Learn about some of the most common home loan programs offered by Homeowners Mortgage, LLC below.
Types of Loans
Adjustable Rate Mortgages (ARMs) typically have lower mortgage rates when compared to traditional fixed rate programs. These rates adjust periodically over time, which can vary based on how long of a mortgage term you take. If you plan on selling or refinancing your home in less than 10 years, an ARM may be one option worth considering. Adjustable Rate Mortgages can be complicated, which is why we recommend talking to one of our mortgage consultants if you think this loan program is right for you.
FHA is short for Federal Housing Administration. While FHA loans are geared toward first-time buyers, you do not need to be a first-time buyer to take advantage of this loan program. There are several benefits in selecting an FHA loan over other forms of financing. Easier credit qualifying, lower down payments and lower monthly payments all make FHA an excellent choice for first time buyers.
Fixed rate loans are offered with most loan programs, including Conventional, FHA, VA, and USDA. Fixed rate indicates that your mortgage rate and payment are fixed for the life of your home loan. Fixed rate mortgages typically range from 10 to 30 years.
Jumbo Loans refer to loans in which the financing required exceeds the maximum loan amounts established by the Federal Housing Finance Agency (FHFA). If your loan amount is larger than the FHFA maximum amount, a Jumbo loan may be required to secure the remaining financing that’s required for your loan. Jumbo loans can be set as either adjustable or fixed rate mortgages and have other terms that may apply.
USDA Loans are offered by the U.S. Department of Agriculture for people living in rural areas. Like a VA loan, USDA loans are up to 100% financed, pending all requirements are met. USDA Loans used to be considered “farmer loans,” but they have evolved over time. Many buyers looking to purchase a home outside a major metropolitan area can qualify for a USDA Loan. Guidelines for USDA loans can be very specific, and some of the eligibility standards that determine if you qualify include what county and zip code the home resides in, your current income and credit history, as well as the number of dependents you can claim.
VA loans are backed by the U.S. Department of Veteran Affairs and are available for military personnel, surviving spouses, and veterans. One of the key benefits for this loan is that it offers a zero percent down payment, so service men and women are not required to make a down payment for the loan. These loans can also be up to 100% financed, pending all requirements are met. Usually, these types of home loans are approved fast with minimal red tape. Even if you have less-than-perfect credit, a VA loan might be the right program for your financing situation. Another benefit of the VA home loan is that it never includes monthly Private Mortgage Insurance (PMI).
Questions About Homebuying?
Find Out What You Can Afford
Use the mortgage calculator to see how much you might pay each month based on your loan amount. The estimated Monthly Payment only covers the loan and interest, not taxes or insurance. Depending on factors like interest rates and your credit score, you might be able to afford more than you think!