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Fixed Rate
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With a fixed-rate mortgage, budgeting and planning is easy. Because with the interest rate set for the life of the loan, your monthly payments never change. These mortgages are typically available with a term of 10, 15, 20, 25 or 30 years. The longer the loan, the less the payment each month, the shorter the loan, the faster you build equity. Fixed-rate mortgages are available for both new home purchases and refinancing.
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Adjustable Rate Mortgages (ARMs)
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An adjustable rate mortgage usually begins with a rate below that of a fixed rate loan, which can help you afford more home. After the initial period, typically one, three, five or seven years, the rate will adjust up or down for the remainder of the loan. If the rate drops, your payment decreases; if the rate rises, so does your payment. ARMs feature a lifetime cap to protect you from huge increases in your payment.
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Government Insured or Guaranteed Mortgages
• FHA Loans
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FHA mortgages were developed to help low-to-moderate income homebuyers realize the dream of home ownership. With low down payments and flexible guidelines for qualifying, they are insured by the Federal Housing Administration. What's more, they are available with fixed or adjustable rates.
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Government Insured or Guaranteed Mortgages
• VA Loans
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Available to veterans and service personnel, VA loans are guaranteed by the Department of Veterans Affairs and typically require no down payment. A DD-214 certificate of eligibility is required.
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Jumbo Loans
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If your dream home demands a large loan amount, from $417,000 to $5 million, a jumbo loan from Atlantic Bay Mortgage may be the answer. We can help you keep your payments as low as possible, so you can pay for other important expenses like college and investments.
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Construction-To-Perm
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With a construction-to-perm loan from Atlantic Bay Mortgage, you can build the home of your dreams and finance it with one simple loan closing. We can provide financing for the construction phase, with an automatic rollover to the mortgage product that best suits your needs. Of course, our experienced construction lenders will be with you every step of the way.
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Investment Loans
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Many Americans build wealth through real estate. At Atlantic Bay Mortgage, we understand the needs and concerns of investors, and we provide flexible programs to help real estate investors build their portfolios. We offer programs for investors, such as loans with small downpayments. |
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Loans For Those With Credit Challenges
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All of us at Atlantic Bay Mortgage understand that life does not always go as you planned. And no matter what credit problems you may have faced--collections, bankruptcy or slow pays we want to see you buy a home of your own. And we have a number of special loan programs available to make home ownership possible for hardworking people with credit challenges.
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Little Or No Down Payment, With No PMI
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Want to avoid making a huge down payment on your home? Want to escape paying Private Mortgage Insurance (PMI), which is not tax-deductible? Atlantic Bay Mortgage can help those who want to hang onto as much of their money as possible, with a special mortgage product that's ideal for the first-time homebuyer who wants to save thousands annually by eliminating PMI from their monthly payment.
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No Cost Loans
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With Atlantic Bay Mortgage, you can take advantage of a number of innovative loan products specially designed for the cash-strapped homebuyer. These include no money down, no closing costs and financing greater than 100%. All to help you better qualify for the home you want.
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Loans With Little Or No Documentation
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For some people, it can be hard to prove your income. Self-employed, commissioned sales, multiple sources of income and so on. If you fall into this category, then a Stated Income loan may be right for you. You simply state your income on the application, with no verification by W-2s or tax returns. You must have adequate assets, employment and financial ratios to qualify, which are verified. Your Atlantic Bay Mortgage Consultant can explain you options.
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Reverse Mortgage
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This special mortgage product was designed specifically for seniors aged 62 and above, who may be entering into retirement and concerned about supporting the lifestyle they want. If your home is nearly paid off, or completely paid off, this mortgage may actually pay you! There are no credit qualifications (it is all based on your age and your home's equity and value) and the income is tax-free! Our Senior Funding Specialists can help you investigate your options.
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Home Loans For Immigrants
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If you have immigrated to the United States, you will find a number of special mortgage programs waiting for you. Their flexible underwriting guidelines take into account non-traditional credit accounts (cell phone, utility, cable or other accounts), multiple borrowers and varying income sources. What's more, 100% financing is available for qualified borrowers.
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Home Loans For Foreign Nationals
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If your country of origin is home, but you visit the United States frequently, then you may want a home away from home. And at Atlantic Bay Mortgage, you will find foreign national programs to make this dream a reality, some requiring as little as 20% down.
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These are just a sampling of the options available to you through Atlantic Bay Mortgage Group.
So let's get started.
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