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mortgage options

There are many types of mortgage loans—determining which one is right for you can be confusing. Our objective is to assist in selecting a mortgage loan with terms and an interest rate that best suits your wants and budget constraints. Meyer Mortgage specializes in variations of all loan options within the categories—rollover the accompanying images for more details about each financing option.

CONVENTIONAL LOANS
CONVENTIONAL LOANS

Conventional home loans are typically available for terms of 10 to 30 years with fixed rates or several variable rate options. With a fixed rate mortgage, your monthly payment and interest rate remain constant for the life of your loan. This ensures that you’ll always be certain of the amount of your monthly mortgage payment. With a variable rate mortgage, the interest rate fluctuates during the course of your loan as based on a published financial index. This type of loan allows you to benefit from any drop in interest rates.

USDA
USDA

USDA [100%]

A USDA home loan from the United States Department of Agriculture loan program is a mortgage loan offered to rural property owners.

REFINANCE LOANS
REFINANCE LOANS

REFINANCE LOANS

Meyer Mortgage can assess your situation to determine if refinancing makes sense for you at this time. If it does, we will be happy to discuss your refinancing options and help to select the plant that best suits your immediate and long-term goals.

 FHA INSURED LOANS
FHA INSURED LOANS

FHA INSURED LOANS

[up to 96.5% LTV]

FHA [Federal Housing Administration] insured mortgages available from approved lenders allow qualified buyers to purchase a home with a lower down payment than most conventional-type mortgages. Talk with one of the loan officers at Meyer Mortgage to see if you qualify.

KENTUCKY HOUSING CORPORATION LOANS
KENTUCKY HOUSING CORPORATION LOANS

KENTUCKY HOUSING CORPORATION LOANS

 [for first-time home buyers]

Kentucky Housing Corporation offers programs for 97% conventional loans with no PMI (private mortgage insurance) required. There are certain requirements regarding maximum loan values.

JUMBO MORTGAGE
JUMBO MORTGAGE

JUMBO MORTGAGE

 These home loans are designed specifically to meet your needs if you are financing a home loan amount in excess of $424,000. Depending on your needs, these loans are available for terms of 10 to 30 years with fixed rates or several variable-rate options.

VA LOANS
VA LOANS

VA LOANS

[100% financing for qualified veterans]

VA home loans are guaranteed by the Department of Veterans Affairs. The VA program enables a qualifying veteran to buy a home at 100% financing.

CONSTRUCTION LOANS
CONSTRUCTION LOANS

CONSTRUCTION LOANS

A construction loan is a short-term loan that is based on draws during the course of construction. Interest is paid only on the amount drawn out on a monthly basis. This type of loan lets you pay your builder in a timely manner, providing you with the initial resources needed to build your home to completion. Once your home is ready for you and your family to move in, the construction loan can be converted to a long-term mortgage. With this type of conversion, you’ll typically only pay one set of closing costs.

ADJUSTIBLE RATE MORTGAGES {ARMs}
ADJUSTIBLE RATE MORTGAGES {ARMs}

ADJUSTABLE RATE MORTGAGES {ARMS}

Adjustable rate mortgages (ARMs) are secured by your principal residence. The interest rate varies, based on a published financial index, plus a margin (with restrictions on interest rate increases during any adjustment period and during the full term of the loan). ARMs are typically available in terms up to 30 years, with no penalty for prepayment, making them ideal for those who anticipate moving within three to seven years. Hybrid ARMs—sometimes referred to as 3/1, 5/1, 7/1 or 10/1 loans—have fixed rates for the first three, five, seven or 10 years, followed by rates that adjust annually thereafter.

the financing process

  • #1 APPOINTMENT

    Schedule an appointment to speak with a Meyer Mortgage loan officer.

  • #2 ITEMS NEEDED

    We will help identify items necessary to complete the mortgage loan process.

  • #3 PRE-APPROVAL

    We offer fast and easy preapproval for home loans. The consultation will not only include determining a price range of homes that works within your budget, but also the anticipated down payment, closing fees, prepaids, and the total monthly mortgage payment. Knowing how much house you can afford allows you to make a sound financial decision.

  • #4 APPLICATION

    Together, we will fill out the loan application ensuring that the documentation is complete and accurate. This eliminates possible delays in closing.

  • #5 LOAN PROCESSING

    Once the application is complete, Meyer Mortgage Corporation assesses the best products and services to help you and your family purchase a home. We are able to provide prompt loan processing, fast approval and quick loan closings—usually within two weeks!