Orange Beach Mortgage Company
How Our Mortgage Company Can Help You
It is nice to know you are more than a credit score. However, if you have been trying to secure a mortgage recently, it seems that is what most Orange Beach mortgage companies want to reduce you to. At JTS & Co., when you are looking for a mortgage loan to purchase, refinance, or get cash from your home's equity, you will be happy to know we get to know the real you and figure out the best way to move forward with your plan.
Our Orange Beach mortgage company wants to make your mortgage lending experience the best it can possibly be. That is why we have created a fast and streamlined process to getting you the mortgage loan you need right now. We understand how purchasing a home or looking into a refinance can be intimidating and stressful from start to finish.
Our Orange Beach mortgage broker will find and customize a loan that fits your needs and puts your mind at ease. Our mortgage lender experts work hard to find what is right for you.
What You Should Know About Mortgage Types and Terms
Not everyone knows mortgages like we do. After all, it is what we do every day, and we have helped thousands of customers find their way into their own homes since 1996. Our goal is to see that become a reality for you as well.
We do not want you to think that procuring a mortgage loan with us is just a one-time transaction. We love our relationships with past clients and want them and you to feel confident enough to call on us again, and maybe to refer their families and friends our way
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Mortgage Options Available in Orange Beach
If you are wondering, here are a few of the mortgage products we offer.
Conventional Mortgages - These are the most common mortgage types you will find. All lenders carry conventional loans, and with one you can purchase any type of property anywhere in the United States. To qualify for a conventional loan, your credit score should be 620 or higher, and your down payment should be equal to at least 5% of the loan value.
FHA Loan - An FHA loan is a government-backed and works great for people who have more debt or a lower credit score. To qualify, you'll need a credit score of 600 or higher, and make a down payment of 3.5%. When lenders tell you your “debt-to-income” ratio is too high for a conventional loan, an FHA loan is a good alternative.
VA Loan - VA loans are a special type of government-backed loan that are meant for men and women who are serving, or who have served, in the armed forces. There are specific service requirements to be met, and they differ according to which branch of the military you are in. A VA loan allows you to purchase a home for 0% down with a credit score of 620 or higher.
Refinance Loan - If you are already a homeowner who wants to lower your interest rate, then doing a “refi” is for you. You have your choice of different loan options according to what you qualify for. A refinance is perfect for lowering your interest rate, getting cash out of your home's equity or switching out an adjustable-rate mortgage for a fixed-rate loan.
Reverse Mortgages - This loan is available to homeowners who are 62 years of age or older. Instead of making mortgage payments every month, now your lender pays you from your home's equity. Reverse mortgages have many aspects to them, which means you will want to talk it over with a mortgage professional before deciding.
Jumbo Loans - When you want to purchase a luxury or high-end property, a jumbo loan is the perfect way to do that. This type of mortgage exceeds the conforming limits set forth by the Federal Housing Financing Agency. Not all Orange Beach mortgage loan companies do jumbo loans however, but at JTS & Co., we do.
Familiarize Yourself with Mortgage Terms
While you are looking for a perfect mortgage, you are going to hear some terms you might be unfamiliar with. The first is a 30-year fixed-rate. This means your monthly mortgage payments remain the same throughout the life of the loan because the interest rate never fluctuates. Whatever you are paying when you begin making monthly payments, is what you will pay on your very last mortgage payment. Fixed-rate terms are a good option for people with steady incomes, as you already know what income you have coming in every month.
Similarly, you might hear about a 15-year fixed-rate. Loan payments on a 15-year fixed-rate loan are made monthly for 15 years instead of 30. There are a number of benefits doing it this way, as you will save on interest paid out over time, and interest rates are generally lower on average. When paying monthly on a 15-year fixed-rate, your monthly payment will be higher because the life of the loan is only for 15 years and not 30 years.
Also, there are 5/1 ARMs (Adjustable Rate Mortgages). Adjustable rate mortgages do not keep the same interest rate throughout the term. All ARMs begin with a period of fixed interest, like for the first year. After that, your lender will recalculate your interest rate based on market interest rates. So, your monthly payments spread out over years and can rise and fall, in accordance with the economy and interest rates.
Make JTS & Co. Your Orange Beach Mortgage Company
We can offer you:
- The lowest interest rates available
- Knowledgeable loan professionals
- No aggressive salespeople
- Streamlined and fast processes
- An easy road to a fast closing date
- Trust in our expertise to get you there
Our Orange Beach mortgage lenders have the online resources to help you make the right decisions for you and your family. We have helped thousands of customers over the years to become homeowners, and we want to see you through to the best mortgage loan for you. Call JTS & Co. today and speak with one of our highly trained specialists or apply online and see what our amazing service will do for you.