What you need to know about
refinancing your home...


Buying a home, especially your first, can be an exciting experience for you and your family. Finding your dream home or ideal neighborhood is a fun part of the process, however, taking steps to understand your mortgage payment and loan are key components in making sure your home purchase is sustainable for many years to come.

Your Mortgage Loan

Many people seek advice from their local bank or home-owning friends to find home mortgage lenders. Although important to utilize existing contacts, it’s also advantageous to compare rates from different lending sources.

Delta Prime helps home buyers save time and money by simplifying the information gathering process. When you enter your information and request for lending information at Delta Prime, you will quickly receive loan offers from up to four of the nation’s leading lenders. Comparison shopping will not only educate you with the rates that are available, but can help build your confidence for making the right decision regarding a home mortgage loan that will affect you and your family for years to come.

Delta Prime makes it easy to help you compare offers. The process is fast, free and with no obligation. So what are you waiting for? Get educated and compare offers today!

Factors to Consider:

  1. Down Payment Required and Length of the Loan
    Your monthly payment will decrease as the length of the loan and the amount the down payment increase. In some instances, your interest rate will actually decrease depending on the amount of your down payment.

  2. Types of Interest Rates
    Mortgage loans differ in how the interest rates are set. Fixed-rate mortgages, usually in terms of 15, 20 or 30 years, ensures that rates will remain the same for the life of the loan. By contrast, the interest rate changes during the life of an ARM, or adjustable rate mortgage, although a minimum and maximum amount is typically established. (A third type of interest loan, a convertible mortgage, is a combination of a fixed-rate and ARM.) If you are no longer able to pay your current interest rate, you may be interested in adjusting to a reliable, fixed-rate mortgage. Find out how a home refinance will benefit you.

  3. Guaranteed Loans
    Different institutions offer various kinds of loans and guarantees. It is important to find out if the lender makes privately insured loan, federally insured loan, or a guaranteed loan of any other kind. Some mortgages are accompanied with a federal agency backing; those typically require a lower down payment than conventional, or non-government, insured loans. However, they are also usually more restrictive in which properties can be insured.

  4. Special Rates and Programs
    Some home mortgage lenders provide special rates and programs for first-time homebuyers, low-income homebuyers, veterans, and other special cases.

What loan is best for you? Compare mortgage and refinance offers today!