How to Get the Best Mortgage for Your Home Purchase
What would be the best mortgage for your home purchase? Would it have the following: • The best possible interest rate? • The best possible loan terms? • A low down payment — if that’s what you want? • An easy, stress-free closing? Would you like to be able to make your offer “as good as cash” so you can negotiate the best price and terms?
Whatever your goal is, Meridian Bank can help you get there.
There are many different loan programs available for home buyers. Here are just a few: • Conventional—A conventional mortgage can lead to a low fixed rate or adjustable rate for your primary home, secondary home, or investment property. • FHA—An FHA mortgage is a great program for buyers. Its advantages are a low down payment without private mortgage insurance. The lender process can be streamlined, with no appraisal and reduced loan documentation to qualified applicants. • VA—A VA Mortgage offers many benefits, including no down payment and lower interest rates. • USDA—These are only available in certain areas deemed “rural” by the United States Department of Agriculture. Surprisingly, many properties on the outskirts of a metro area will qualify for these loan programs. The advantages of a USDA Mortgage are lower interest rates and zero
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