Loan Options
United Financing works with multiple lenders and offers Home Purchase loans, Mortgage refinancing, Home Equity loans and lines of credit, and Debt Consolidation loans and various closing cost options for our clients to choose from.
Fixed Rate Loan Programs
Your interest rate is fixed for the life of the loan.
With a fixed rate loan program you don't have to worry about your monthly payment changing. Your interest rate and loan payment is fixed for the life of your loan. United Financing offers terms ranging from 10 to 40 years.
Benefits:
Fixed Monthly Payments
Fixed Interest Rates
Adjustable Rate Loan Programs
Your interest rate will adjust periodically during the loan term.
With an adjustable rate mortgage loan, you can lower your monthly payments by reducing your initial interest rate as compared to traditional loan programs. If you plan on selling or refinancing your home in less than 10 years than an adjustable rate mortgage loan may be right for you.
Benefits:
Lower Monthly Payments
Lower Initial Interest Rate
Interest Only Loan Programs
You only pay interest, reducing your monthly payment.
With an interest only loan you only pay interest during the initial interest only period.
Benefits:
Lower Your Monthly Payment
Qualify for a Larger Loan Amount
Balloon Loan Programs
Your loan amortizes over 30 years, but must be paid in full in 5 or 7 years.
If you plan on staying in your home for seven years or less, then a balloon loan may be right for you. Your interest rate is fixed during the entire perioud, but your loan must be paid in full or refinanced into a new loan after balloon expiration. Your loan amortizes over 30 years to keep your monthly payments low.
Benefits:
Lower Monthly Payments
Lower Initial Interest Rate
Jumbo Loan Programs
Large loans above $417,000.00.
Financing for conforming and non-conforming loans. Jumbo loans are typically any loan amount in excess of $417,000.00.
Stated Income and Alternative Loan Programs
Flexible loan options to ensure your loan receives the best interest rate.
If you are self employed, have recently taken a new job, or want to simply reduce the amount of paperwork needed to close your loan, stated income may be the right loan program for you.
Stated income allows you to "state" your annual income, eliminating the need to document your income through pay stubs, tax returns and other official documents.
Stated Income is the Best Choice if:
Self Employed
Recently started a new job after an extended period of time between jobs.
Prefer to reduce the amount of paperwork.
Prefer to not share your financial documents with the lender.
Other Alternative Loan Programs
No Income/No Asset - state both your income and your assets.
No Ratio - eliminate the need to pass industry standard debt-to-income and payment-to-income ratios.
