Preferred Mortgage - Chippewa Valley Mortgage Services
Preferred Mortgage has dozens of mortgage products from dozens of lenders from which to draw to meet your specific lending need. The advantage of being a full service broker is that we are continually updated with the newest and most effective mortgages currently available.
The best prime mortgage interest rate is for those who have a good credit score and who have enough income per month to service the monthly payment, including the taxes and insurance (if a new purchase has 20% of the price as a down payment). In the not too distant past, the only way to get a home loan was to qualify with these conditions.
Today, however, if you don’t have enough for the full down payment and can only put 15%, 10%, 5% or even no money down, we have programs that may meet your lending needs. Some 80-100% mortgage products require private mortgage insurance. The amount varies with the amount borrowed. Another popular product is an 80/20 (first & second mortgage). For both of these types of mortgages, one still must have good credit score and sufficient income to service the loan payment.
If credit is a problem, we have access to home loan programs that can provide assistance in these cases. The interest rates may be a little higher, but often there is no better way to aggressively rebuild credit than to begin making regular, on-time payments on a home mortgage.
We at Preferred Mortgage will counsel you on the amount of home payment you qualify for, based on your income and current debt. Income and debt ration is the primary factor in determining the amount of house payment, thus the price of home you can afford.
If you are a current homeowner, we have options for you to consider a refinance for your home, with or without cash-out options. A ‘second mortgage’ is another option available to homeowners who have equity in their home and wish to turn it into cash for useful purposes.
Preferred Mortgage’s parent company, Preferred Acceptance Company, has financial resources to lend money to those who absolutely can’t find help anywhere else. In fact, many local lending institutions in Eau Claire, Chippewa Falls, and the Chippewa Valley refer their most difficult cases to us…and we are able to help out.
Regardless of your personal financial circumstances, Preferred Mortgage is the only call you need to make. We will take the time to understand your needs and use our skills and experience to match up our vast array of resources to meet your needs.
No need to delay, call us today, so we can go to work for you!