Do you have a reason to refinance?
If you want to change from an adjustable rate mortgage to a fixed, or refinance
a FHA home mortgage, or maybe you're looking to reduce your monthly payment,
get cash-out for improvements, or pay off debts, look to us first, your leading
lender in Annapolis, Maryland. There are numerous reasons to refinance, but
you must be sure it is the right time and the right reason. We offer a free
consultation to anyone interested in refinancing, so that we can help you decide
if it is the right time for you.
Refinance Loan Options:
- Fixed rate conventional options
- Adjustable rate conventional options
- ARM Advantages
- Customized loan options
- FHA home loans
- VA home loans
- VA Advantages
- Rehabilitation loan options
- Balloon Payment Options
- Refinance Loan Options
- Construction Loans (Residential and Commercial)
Are you looking to get cash-out for purchases? Do you want to lower your
monthly payment? Maybe you want to start building equity to pay off your
What ever the reason, we have the loan to suit your needs. We offer a variety
of options and we can customize a loan for you. If you are unsure what loan
you need, our experts can help you select the right loan and guide you through
therest of the process.
**Jumbo loan amounts available on all programs
including FHA and VA loans.
Fixed rate conventional options:
With a fixed rate conventional loan from Fidelity First Home Mortgage, your monthly payments
will always be predictable. The interest rate is fixed for the life of the
loan, so your monthly principal and interest payment will never change. Why
payment adjustments when you can lock in a low interest rate today that protects
you from future interest rate increases. With a conventional refinance, get
cash-out for large purchases, make improvements, or simply lower your monthly
Adjustable rate conventional options:
If you want the advantage of a low initial interest rate, you may want to check
out our conventional adjustable rate mortgages. If you are looking to move
or payoff your mortgage in the next few years, you might refinance into an
order to take advantage of lower interest rates and monthly payments until
you move. With an ARM (adjustable rate mortgage), the interest rate will be
for a stated period of time and then becomes adjustable for the remainder of
the loan. For example a 3 year ARM has a fixed interest rate for the first
three years and then for the final 27 years the rate will adjust periodically.
interest rates changes periodically (normally once a year) based on the changes
of current market interest rates. When the interest rate adjusts, so does your
payment. If interest rates rise, your payment will rise. If the interest rate
goes down, so does your payment.
The initial interest rate is lower than that of most fixed rate mortgages.
If interest rates go down you benefit from a lower interest rate and a reduced
payment. ARM loans offer the protection of Annual and Lifetime Caps.
Customized loan options:
We have various loan programs for our customers with unique needs. If you can't
find a loan to fit your needs online, then call us. We have many more customized
loan options that are not listed here, and we will be happy to customize a
loan especially for you and your refinance needs.
FHA home loans:
If your home is currently financed with an FHA insured loan you are eligible
to reduce you're current rate and save with the FHA streamline refinance program.
This streamline refinance has reduced documentation requirements and it's easy
to qualify. You can usually refinance with nothing more out of your pocket
than you're normal monthly payment amount. So start working on a streamline
today and start saving on your monthly mortgage payment. FHA home loans are
insured by the Federal Housing Administration (FHA), a division of Housing
Development (HUD). HUD does not generally provide the funds for the mortgages,
but they insure (see Mortgage Insurance) mortgage loans made by private industry
lenders such as banks and mortgage bankers.
VA home loans:
If your original mortgage on your home is a VA mortgage, you are eligible
for a VA rate reduction refinance. With virtually no paperwork, no qualification,
no income verification, no appraisal, and no money out of your pocket
reduce your interest rate and monthly payment. Just like your original
VA loan the rate reduction refinance loan is guaranteed by The U.S. Department
Affairs. The VA loan programs allow veterans to obtain home loans with
favorable loan terms, and refinance with ease all with minimal no cash-out-of-pocket.
For VA housing loan purposes, the term "veteran" includes certain
members of the Selected Reserve, active duty service personnel and certain
Cash-out refinance loans available. No monthly mortgage insurance premium.
With a Rate Reduction Refinance (no requalifying or appraisal required).
Rehabilitation loan options:
If you are looking to refinance to make improvements to your current home,
look no further. We have a variety of loans customized to meet your home rehabilitation
needs. If you can't find a loan to fit your needs online, then call us. We
be happy to customize a loan to meet your unique needs.
Balloon Payment Options:
If you plan to payoff your mortgage in less than 7 years, our conventional
balloon options may suit you. With a conventional balloon loan, you get
the benefit of
a fixed monthly payment and a reduced interest rate. The interest rate
is lower than most fixed rate loans and very attractive to borrowers
who are likely
to move within the balloon term.
Although your monthly payment may be reduced in refinancing your total
finance charges may increase over the life of your new loan.