Residential, Commercial, Construction Lending: Selecting the correct lending solution is as important as decision you can make in contributing to your wealth. Rosie wrote a book about it, “The Little Black Book of Wealth Building Mortgage Secrets”.
CFA’s offering of mortgages range from conforming loan balances to super jumbo loans in excess of $20 Million. In today’s complex interest rate environment, it’s critical that careful consideration be made to both short term and long term financial planning.
Fixed Rates – The context of a 30 year fixed mortgage is not exclusive or best suited for all parties or investment choices. While a 30 year fixed rate does provide payment stability throughout the term of the loan, statistically speaking, most mortgages are refinanced with eight years for various reasons (cash out for home upgrades, college tuition, any personal , lowering of payments to take advantage of lower interest rates, etc). When considering this, do you want 30 year interest rate insurance? Additionally, there are several other fixed rate financing options such as 10, 15 and 20 year terms.
Adjustable Rate Mortgages (ARMs) – Either interim fixed rates or interim interest only programs provide significantly lower payments and improve either cash flow or payment flexibility. These programs must not be confused with the notoriously abusive program once referred to as “negative amortization” where a teaser rate and payment were provided initially and later the consumer found themselves in a program and payment they could not afford. These programs are now illegal. We are speaking to interim fixed rates of 3, 5, 7, and 10 year options where in our consultative approach review whether our client will be holding the property in the near or extended term and want greater flexibility/ affordability during the interim period. These interim ARMs are outstanding programs, for the right situation and appropriate financial strategy.
Our concierge approach to lending takes into account your financial goals, determining what program will achieve your goals. CFA is designed to ensure your goals are thoroughly reviewed and monitored. Whether you’re looking to purchase a new property, refinancing your property, improving your leverage, building a new proeprty, to finding the financing for income property, we’re here to help. Please call us to today review what works best for you.