15, 20, 30 Year Fixed Loan
30 Year FixedA 30 year fixed conventional loan is a loan that has the same mortgage payments for 360 months.
Conventional loans typically are harder to qualify for than FHA loans and require a slightly higher down payment. However, in some cases rates can be lower and have lower closing costs. Also, monthly mortgage insurance is usually less or can be nothing with 20% down payment.
20 Year FixedThis type of loan is the same as the 30 year fixed rate loan except the life of the loan is 240 months as opposed to 360 months. Since the loan is being paid slightly faster than the 30 year fixed rate loan, monthly payments for this type loan are higher than the 30 year fixed rate loan. Some Lenders allow for a lessor rate.
15 Year FixedThis type of loan is the same as the 30 year fixed rate loan except the life of the loan is 180 months as opposed to 360 months. Since the loan is being paid faster than either the 30 year fixed rate loan or the 20 year fixed rate loan, monthly payments for this type loan are higher than the other two loans. Generally, the longer a lender agrees to keep the interest rate "fixed", the greater the risk to the lender, therefore, in most instances, interest rates on 15 year fixed rate loans are slightly lower than on 20 or 30 year fixed rate loans.
5% down payment required on purchase
Minimum credit score - usually 620
Post- bankruptcy: can qualify after 4 years
Post-foreclosure: can qualify after 7 years
Post-shortsale: Can Qualify after 2 years (LTV restrictions may apply)
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our dream home…
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“I just wanted you to know how much you’ve helped me in this latest phase of my journey. I felt safe, understood and cared for during the process of realizing the dream! Not only was it the process, the actual buying part! You’ve taken care of me since, helping again to meet my budget goals, ensuring my stability today and in the years to come. You are a true professional but more importantly in my book, caring, compassionate and engaged. That combination in rough economic times helped my transaction be one of peace relatively speaking! After two brokers before I was gun-shy. Thank you so much for sharing your gift with me.”
senior experience guided the process…
“I recently did a refinance through Regent Mortgage Corporation and Mark Landon was my main person handling the process from start to finish. His professional experience made my refinance go smooth and Mark’s senior experience guided the process very smooth and professional results and I would use him again someday in the future.”
referred him to many friends…
“We have been working with Mark Landon for about 15 years! He has helped us through multiple refinances and as a Buyer’s Agent when we looked for another home, including helping us with our first mortgage on the new house. Mark has always looked out for us and kept us updated. We have referred him to many of our friends and they have been so pleased with his service that they in turn have referred him to their friends and family. Our son also called Mark when he bought his first house. We would not consider using anyone else when it comes to our real estate needs. ”
we put our trust in you…
“Thank you for your response to our unique Mortgage situation … You were more than just professional and competent, you were responsive to our specific needs and found a solution. Plus, as always, found the best interest rate better than those advertised and kept our closing costs to a zero. Simply put, we can conveniently put our trust in you to take care of everything and know it will be in our best interest. These are the reasons I and my family have used your service and will continue to do so if needed in the future. Thanks again.”
“Mark is highly motivated to help people get the best rate they can on their mortgage. He sincerely cares about helping people out financially. You can tell he loves his job and he gets excited about helping his clients.”
competitive loan program…
“I’ve known Mark Landon for the past 10 years and enjoyed his exceptional service as mortgage broker. He definitely knows different loan programs, follows through on his commitments, and solves difficult loan scenarios. I highly recommend his service to anyone who is looking for a mortgage since you will get a very competitive loan program.”
easiest and most hassle free experience…
“Mary and I just wanted to send you a note to tell you that we have refinanced many times in the past fifteen years but doing it with you was the easiest and most hassle free experience we have ever had. Everything went just like you said it would and we are quite pleased and will tell all our friends. Thanks again for a very pleasant and financially beneficial experience.”
you made the whole process painless…
“Thank you so much for all your hard work on our loan. You made the whole process palatable and painless. We wish all our transactions were this smooth.”