Financing Options
There are a lot of options for clients when it comes to financing a real estate investment. Mortgage 1 Plymouth provides the best selection of mortgage loan products, including conventional and government-supported mortgages. The choices are vast and can be overwhelming, but we are here to help! Contact us today to find the best program to meet your unique needs.
Conventional Loan
A conventional loan is the most common type of mortgage financing. One of the advantages of a conventional loan is that it can allow borrowers to avoid paying upfront and monthly private mortgage insurance (also known as PMI). If a borrower makes a down payment of less than 20 percent on a conventional loan, the rates of mortgage insurance vary according to credit scores, debt-to-income ratio, the type of mortgage insurance a borrower chooses, as well as the loan-to-value ratio.
Mortgage 1 NMLS #129386 www.NMLSConsumerAccess.org, Equal Housing Lender. Mortgage 1 Inc. is licensed in Michigan, Ohio #MB-804110.000, Florida #MLD282, and Texas. 43456 Mound Road Sterling Heights MI 48314. (1-866-532-0550).
This is not a commitment to lend. Restrictions apply. All Rights Reserved. Mortgage 1 Inc. is not acting on behalf of or at the direction of MSHDA, VA, Rural Development or the federal government. Mortgage 1 Inc. NMLS# 129386 is not affiliated with your current lender.
Mortgage 1, Inc. is an Equal Housing Lender. As prohibited by federal law, we do not engage in business practices that discriminate on the basis of race, color, religion, national origin, sex, marital status, age (provided you have the capacity to enter into a binding contract), because all or part of your income may be derived from any public assistance program, or because you have, in good faith, exercised any right under the Consumer Credit Protection Act. The federal agency that administers our compliance with these federal laws is the Consumer Financial Protection Bureau P.O. Box 4503 Iowa City IA 52244.
The actual payment amount will vary based upon credit history, rates in effect at the time of consummation, LTV and other credit factors. An LTV ratio above 80% may result in a need for mortgage insurance. If mortgage insurance is required, the amount of your payment will increase. The APR is subject to change at any time prior to consummation, and individual APRs may vary for loan purchases and loan refinances due to loan programs being offered, loan volume, or other factors. All borrowers are subject to qualification, underwriting approval, lender terms, and conditions. Terms, conditions, and rates are subject to change without notice. The information provided is for dissemination to and for the use of real estate and financial entities only and is not an advertisement for the extension of credit to consumers. Online homeownership education may be required. Equal housing lender, NMLS#129386.