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Home prices have dropped so quickly and so far that valuations - the difference between what a home should cost and its actual price – are reported the lowest they've been since 2004.
Come to a name you can trust, Kingdom Federal Credit Union, whether you’re buying a home or financing an existing loan.
Not sure if your existing mortgage is good for you?
Do you have an adjustable rate mortgage (ARM)?
Not sure?
You’re not alone. According to a March 2007 Bankrate.com survey, 34% of homeowners do not know what type of mortgage they have or many of its details. And many homeowners with ARMs don’t know how often and by how much their rate can adjust, or its lifetime rate increase limit. Attracted by low initial monthly payments, many homeowners unfortunately overlooked the long-term results of their decision.
If you fall into this category or the rate on your ARM is about to increase and you don’t know what to do, call us. Together with our mortgage service provider, Member Options, we’ll review your existing mortgage (regardless of where you got your loan) to fully understand its terms. We’ll help you decide what action, if any, you should take based on your personal situation. By acting quickly, you could possibly avoid unnecessary long-term interest payments, the loss of equity in your home or worse, the loss of your home.
For more information on our full range of mortgage solutions call us or contact our mortgage service partner, Member Options, at (757) 671-2030 or toll free at (888) 578-4747, or apply online at the link below.
Member Options’ Mortgage Loan Consultants go the extra mile to help you understand every aspect of your mortgage so you’ll get the best mortgage to meet your needs – at the right price and terms.
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