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At Accesable Mortgage in Akron Ohio, different describes
our attitude to lending. Instead of offering you a few,
standard loan options, we search the financial world for
a wide selection of loans to meet your needs. Our
customized mortgage loan process allows us to create
exactly the loan you require. Even if you've had credit
problems, high credit debt or are self-employed, we'll
work diligently to find and close the loan you require.
Best yet, we do the work for you, contacting and
researching the most competitive lenders available, then
providing you with clear, simple steps throughout the
loan process. At Accesable Mortgage, where other lenders
end, we're just beginning and we will work with you to
realize the perfect loan for your needs.
Most home loans fall into one of two general categories:
fixed-rate mortgages (FRMs) and adjustable rate
mortgages (ARMs).
Fixed Rate Mortgages offer interest rates that stay the
same for the entire loan term.
Fixed Rate Mortgages offer:
Predictable payments. The monthly principal and interest
payment is fixed over the life of the loan.Protection
from rising interest rates. No matter how high market
interest rates go, your mortgage rate remains the same
over the life of your loan.
Fixed Rate Mortgages Are Best For People Who:
Prefer regular payments with no surprise
Are on limited or fixed incomes
Plan to stay in their homes a long time
Are buying a home at a time when interest rates are
comparatively low
Fixed-rate mortgages (FRMs) give you the security of
knowing your monthly principal and interest payments
will not change. Accesable Mortgage offers a variety of
conventional, customized and progressive fixed-rate
loans, in both conforming and jumbo loan amounts, with
terms ranging from 10 to 30 years.
Adjustable Rate Mortgages have interest rates that
adjust periodically based on market conditions.
Adjustable-Rate Mortgages Offer:
Lower monthly payments. Because the initial interest
rate is lower than with a traditional fixed-rate
mortgage, you'll save on your monthly payments during
the early years of the loan term. More buying power.
Qualification is based on the lower initial payments, so
you can get a larger loan amount.
A variety of fixed-period options. Depending on the ARM
product you choose, the initial fixed-rate period may
last for one year (1-year ARM), three years (3/1 ARM),
five years (5/1 ARM), seven years (7/1 ARM), or even ten
years (10/1 ARM).
Adjustable-Rate Mortgages Are Best For People Who:
Need a larger loan amount than they can qualify for with
a fixed-rate mortgage
Want to save money in the short term
Plan to move or refinance within a few years
Are purchasing or refinancing at a time when interest
rates are comparatively high
Adjustable-rate mortgages (ARMs) feature an interest
rate that is fixed for an initial period, then adjusts
periodically based on market fluctuations. Accesable
Mortgage offers a variety of conventional, customized
and progressive adjustable-rate loans, in both
conforming and jumbo loan amounts, with terms ranging
from 1 to 10 years.
Interest Only
Low monthly payments consisting only of interest for the
first five or seven years
Available with 5/1 and 7/1 adjustable- rate loans
Homebuyers looking to increase their short-term cash
flow
Homebuyers who intend to move or refinance within a few
years
Jumbo Loans
Mortgage amounts in excess of the conforming loan limit
of $333,700 set by Fannie Mae and Freddie Mac
Also known as non-conforming loans
Typically carry higher interest rates
Homebuyers who need financing to purchase a more
expensive property
Investment-minded buyers who can afford a large
purchase, but want to leverage their assets more
effectively
Blend Jumbo Loan
A fixed-rate loan up to the conforming loan limit,
combined with an adjustable-rate second mortgage to
cover the rest of your home purchase
Lower monthly payments than with a regular jumbo loan
for the same total amount
Expanded Financing Loans
Alternate documentation options for income, debt, and
credit
Less hassle for self-employed borrowers or foreign
nationals
Financing for unusual property types, such as condotels
and log or earth homes
Self-employed homebuyers or foreign nationals who may
have trouble with typical mortgage documentation
requirements
People interested in financing unusual property types
Bridge Loan
Financing to purchase a new home before the existing
home is sold
More buying power, because existing mortgage payments
aren't considered for qualification
First-and-Second-Mortgage Combination
Combines a first mortgage with a home equity loan
Home equity loan can supplement down payment funds to
bring the loan-to- value ratio down to 80%, bypassing
mortgage insurance costs
Homebuyers without enough cash for a large down payment
Homebuyers who don't want to liquidate higher-yielding
investments for a down payment
Bypasses mortgage insurance costs when loan-to-value
ratio is less than 80%
Money that would have gone to mortgage insurance goes
instead to tax- deductible interest payments
Homebuyers without enough cash for a 20% down payment
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