About the Mortgage Business

When you are ready to shop for a conventional FHA Mortgage vs you have two types of mortgage stores to shop - Direct Lenders and Mortgage Brokers.

Direct Lenders like Desert School Federal Credit Union have cash to loan you. Mortgage Brokers have unlimited Lenders to from which to choose from. Lenders have a limited number of in-house loans available. Brokers that we find can shop hundreds of Lenders for you. This results in the lowest fixed or adjustable rates around!

Once our company receives your application we will shop for the best mortgage broker for you who will in turn shop for the best Lender.  And since Lender's rates vary drastically, you will have the most options and will in turn receive the lowest rate.  Most mortgage shoppers here find this is the lowest rate they could find with the best terms.  And typically loan costs are also lower than what they would have gotten elsewhere.

conventional FHA Mortgage vs Programs

For every individual situation there is a beneficial program that will complement them. Depending on the reasons for refinance and future financial plans, these will determine the program that you will choose. The best thing to do is to go over your mortgage options with a loan officer.

A credit comeback, also known as a credit repair program is designed to help borrowers with previous mortgage lates. A credit comeback program will give the borrower an opportunity to lower their interest rate by .375% every year for the first 4 years when they have made their previous 12 payments on time. For example, when your loan is one year old and you have made your first 12 payments on time, your rate will reduce by .375% for the following year. The credit comeback program means your rate can never go up, but can be reduced by up to 1.5%. One benefit to refinance is debt consolidation. {NAME} - For reasons of lowering monthly payments and taking advantage of today’s low home mortgage rates, consumers are refinancing their homes. The average credit card or personal loan has an annual percentage rate of 18-22%. To avoid the high interest rate, most borrowers will decide to payoff their credit cards in the loan. This way they can eliminate their monthly payments on credit cards and use the savings for other purposes.

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