Sam Coleman
Home Loan Specialists, Inc.
Mortgage Update
     "The Best Rate Is Not Always The Best Deal!"                           Always Call Sam!                           1-866-SAM-4-YOU  (1-866-726-4968) 
Comprehensive Insight
Rural Development Loans allow borrowers to purchase homes with little or no money down. Income limits apply and the subject property must be in an area specified eligible for RD loans. Rates for this program might be slightly higher than conventional financing but, there is no monthly Mortgage Insurance required. Please call for more details.

Rural Development

A Division Of Mortgage 1. Inc.
Which Loan Program Is Right For Your Needs?

Good question. No two mortgage loan situations are really the same. It is important to analyze your unique circumstances and then determine a course of action to ready you for your first or next mortgage loan. Good credit purchase and refinance programs generally go real smooth. Borrowers with credit issues often require more time to get things done.

Good credit and lots money in your bank or savings plans makes buying and refinancing pretty simple. Good credit with not a lot of money is much better than no money and rough credit. We can do a lot for folks with a good credit history.

If you have poor credit and a lot of money or credit issues with equity in a property you still have mortgage opportunities. Challenging? Yes! Don't give up! I will do my best to point you in a proper direction.

Examples Of Various Mortgage Programs

•   30 Year Fixed
•   15 Year Fixed
•   3 - 5 - 7 Year ARM
•   Conforming Balloons, etc.,
•   VA
•   FHA
•   3.5% Down
•   10% Down
•   20% Down
•   Rural Development (Zero Down)
If a consumer spends an extra $2000 or, one Point to lower their interest rate .25%, to acquire a $200,000 mortgage, monthly payments are reduced by about $33. This may not be smart because the investment recovery time works out to more than five years. These numbers may not favor the client!
  • FHA property inspections are typically a bit more detailed than conventional deals.

  • FHA underwriting guidelines are generally more flexible than  conforming loan rules.
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  • FHA now requires a down payment of approximately 3.5% but, it does not have to be the borrower’s own money. It could come from a gift, etc.

  • FHA loans have an up front Mortgage Insurance Fee that can be added to the loan amount.
A Few FHA Mortgage Loan Facts
Got Questions
1-866-726-4968
or
          Sam Coleman - Michigan Loan Officer License 66789Home Loan Specialists, Inc., Corporate Offices
            135 E Main St., PO Box 132, Manchester, MI 48158                36139 Schoolcraft Rd., Livonia MI 48150
                     Phone 734-428-8944  Fax 734-527-6114   734-524-0400  Fax 734-524-0600
email me
"The Best Rate Is Not Always The Best Deal!"