Home Mortgage Loans
We Offer a Variety of Home Mortgage Loans
There are few things in life more exciting than buying a home. However, with that being said a home loan should not be that hard to obtain. Maybe you do not know if you would qualify, or you have been turned down in the past and are afraid to try again. At JTS & Co., we are here to help you find the best home mortgage loans on the market today.
Buying or refinancing a home should be a stress-free process. When you contact our mortgage consultants, we will guide you through the process and help you select the best possible loan option that is right for your specific situation.
The Home Loan You Need
If you are in the market for home mortgage loans, it can often seem like a time-consuming and confusing process. Where do you begin? How do you know if what you have found is right for you? What steps should you take to apply for a home loan?
It probably seems that you have a whole lot of questions, and not a lot of answers.
What you need is to talk to one of our mortgage experts. We have created a fast and streamlined mortgage process that will answer all your questions, and the beauty is that same process will save you time and money. Our online resources will provide you the information you need and show you the way to a quick closing date, with the low rates you deserve.
Home mortgage loans come in many shapes and sizes. Some are just right for your situation, and some you do not have to consider. Let us take a look at just three: refinancing home loans, reverse mortgages, and jumbo loans.
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Conventional Home Loans
With a required minimal down payment of 5 percent, the conventional mortgage loan could be the right option for you and your family. A conventional Loan option can be used to shorten the term, gain a better interest rate or simply cash out existing equity within the home.
We also offer additional expanded Conventional Mortgage Loan programs that requires a 3 percent down payment.
Refinance Home Loans
If you have a loan with an interest rate higher than what is being offered today, it makes sense to look into a refinanced loan. A refinance home loan depends on several factors. Are you merely looking to lower your monthly mortgage payments, or do you want to save money in the long term?
When you refinance a home loan, you are applying for a new loan. There will be additional paperwork, along with all of the steps that were included in your original loan, and then a closing date will be set.
So, just why would you want to refinance a home mortgage loan? Some of your reasons may include:
• Lowering your monthly payment
• Rid yourself of mortgage insurance (MI)
• Pay off your mortgage faster
• Go from an adjustable rate to a fixed-rate loan
• Consolidate debt
There are pros and cons to refinancing, so be sure to have a thorough discussion with your mortgage consultant about what the best options are for you.
Reverse Mortgage Loans
A reverse mortgage loan or home equity conversion mortgage (HECM), is a type of home loan for homeowners who are 62 years and older. It allows the homeowner to access equity in their home in a single lump sum, a monthly cash advance, a line of credit or a combination of these methods.
A reverse mortgage:
• Eliminates monthly required mortgage payments
• Gives you a way to unlock the equity in your home
• You continue living in your home until you decide to sell or vacate the home as your primary residence
Jumbo loans are designed to finance a loan amount that exceeds the "maximum conforming loan limits" set by Fannie Mae or Freddie Mac. A jumbo loan is often referred to as a "non-conforming" mortgage because it gives the home buyer the ability to buy or to refinance higher-priced homes.
When smaller loan amounts do not suffice, you can apply for a jumbo loan for:
• Purchasing a luxury property.
• Purchasing condominiums.
• Purchasing between one and four-family residences.
• To finance primary residences, second homes, and investment properties.
FHA Loan Programs
At JTS & Co. we offer multiple options of FHA Loan Programs across Mississippi and Alabama. Our team can help you decide which program would benefit you the most.
Some features include:
• Attractive option, especially for first-time homeowners.
• Can be utilized for both purchase and refinance transactions.
• Requires the buyer to put 3.5 percent of the sales price down as a down payment.
• A Cash Out Refinance allows the borrower to access existing equity to be used for any purpose like consolidating unwanted debts, funding home improvements or paying for college
A USDA Rural Housing Loan is a government insured loan that allows for 100 percent financing. There is no down payment required and also provides the capability of including your closing costs into the loan along with your pre-paids (Taxes & Insurance) in your loan subject to the limits of the appraised value.
A Rural Housing Loan is a great option for the First Time Homebuyer or even a seasoned buyer!
VA Home Loans
You've served your country. Now, you are preparing to move on to the next phase of your life. One of the best ways to do that is by purchasing a home of your own.
VA loan eligibility varies depending on your service status. Almost all veterans, active military, and spouses of deceased military members are eligible. Veterans are eligible immediately as long as all service requirements have been met.
As a proud supporter of our military and their families, JTS & Co. has a dedicated team to better serve the mortgage needs of our Veterans.Through the VA home loan program, JTS & Co. offers the Veterans in Mississippi and Alabama a LOCAL,TRUSTED and EXPERIENCED option for your mortgage.
Home Renovation Loans
The HomeStyle Renovation mortgage provides a convenient and economical way for borrowers considering moderate home improvements. Homebuyers have the chance to make repairs and renovations with a single-close first mortgage rather than taking out a second mortgage, using home equity line of credit or utilizing more costly methods of financing.
The home renovation loan enables borrowers to purchase a home that needs repairs or refinance the mortgage on their existing home. It also includes the necessary funds for renovation in the loan balance. The loan amount is based on the "as completed" value of the home, not the present value.
Apply for a Home Loan Today
When you know it is time to apply for a home loan, that is the time to contact JTS & Co. We are your local and friendly loan advisors, and our experience in the mortgage market has helped thousands of customers since 1996. We will help secure the lowest interest rate, get you a quick closing date, and answer all of your questions along the way.
Do not wait a minute longer for a mortgage loan. Call us and speak with one of our mortgage specialists today.