How much do you earn?
Have you managed your debts in a credit worthy manner?
How much cash or liquid assets do you have to put towards your purchase?
Do you have excess debts, such as car loans and credit card debt, which limit the monthly mortgage payment you're able to make?
This is a partial list. Additional documentation may be needed
based on your particular situation.
|30 YEAR FIXED||4.%|
|15 YEAR FIXED||3.25%|
|FHA 30 YEAR FIXED||3.875%|
|JUMBO 3/1 ARM||4.5%|
|JUMBO 5/1 ARM||4%|
|JUMBO 30 YEAR FIXED||4.125%|
|HELOC AT PRIME||3.75%|
*The rates posted on the ALMC Mortgage website are deemed to be reasonable and available on the date in which they are posted. As all borrowers will qualify differently, the material contained is for general purposes and while ALMC strives to meet all state and Federal compliance regulations, rate and terms are subject to change.
Read the full disclosure.
To help you calculate your monthly payments, ALMC Mortgage has made two mortgage calculators available. Use the basic calculator to estimate your monthly mortgage payment. Use the advanced calculator to determine how various pre-payment options can reduce your interest and pay off your loan early.
Pay Down the Principle Balance of Your Mortgage
By paying a little extra on your monthly mortgage payment, you will significantly reduce the amount of interest you pay over the life of a loan. Roughly, two extra payments a year can reduce a 30-year loan to an 18-year loan. Use this tool to reduce the finance charges on your mortgage and start to realize the savings immediately.
Consolidate Debt with a Mortgage Loan
Borrowers who qualify can combine credit cards, auto loans, and consumer credit account balances into a new mortgage loan and reduce their overall monthly expenses. This type of consolidation loan also allows borrowers to lower their overall interest rates and deduct the interest on the mortgage loan (in most cases).