Skip down to page content.

Springfield Missouri Home Loans

Finance Information

How much home can you afford? Use our finance center to learn about your loan options below. There are several loan programs available, and depending on your credit history, there is bound to be one that is perfect for you. Here are a few examples of the most popular programs offered today:

Fixed-Rate Loans

The fixed-rate mortgage is the most popular mortgage program in use today. Fixed-rate loans offer the borrow a fixed interest rate for the life of the loan, typically 15 to 30 years. Borrowers have peace of mind knowing that their monthly payment will not change over time. Conventional fixed-rate mortgages have underwriting requirements established by Freddie Mac and Fannie Mae, and require certain down-payment and debt-to-equity ratios to qualify. Fixed-rate loans are especially attractive to buyers who plan to stay in their home for more than a few years.

Adjustable Rate Loans

With an Adjustable Rate Mortgage (ARM), the interest rate changes periodically, and payments up or down accordingly. Rates are tied to an index that reflects the cost of money at any given point in time. Generally speaking, lenders charge a lower initial interest rate for the ARM than for the fixed rate mortgage. If you are expecting interest rates to decrease in the future, or if you are trying to maximize your purchase power today knowing your income will rise in the future, then this loan may be right for you. Adjustable rate loans are attractive for buyers who expect to be in the home for a short period of time.

FHA and VA Loans

The Federal Housing Administration (FHA), offers loans for low-to-moderate-income home buyers. FHA loans have lower down payments, and have relatively easier requirements than conventional fixed-rate mortgages. FHA mortgages have no income restrictions and even those with lower credit scores may be considered. Past bankruptcy does not necessarily disqualify borrowers from using this program!

In addition, the Department of Veterans Affairs (VA) offers a zero-down mortgage program. To take advantage of this program, borrowers need to be among those listed as veterans and service personnel in the U.S. military. One of the biggest benefits of this program is that it eliminates the need for private mortgage insurance!

Local Homebuying Program

There are often many state and local programs available. These programs offer down-payment assistance and programs for local home ownership. Learn more about these local programs, recommended lenders, and other finance options by contacting us today!

Robin Schilling

Flat Branch Home Loans
Senior Mortgage Banker
 
Cell:  417-880-4789
Office: 417-877-0250
Email:  rschilling@flat-branch.com
NMLS# 564446
Company NMLS# 224149

 

 

Christopher Krans
Sales Manager
Wells Fargo Home Mortgage
222 E Primrose St. Springfield MO 65807
Tel 417-885-4025 ext 4025
Mobile 417-655-0071
eFax 877-801-7382

https://www.wfhm.com/loans/christopher-krans/index.page  Apply Online

 

 

google map to real pro systems 

FHA Improvements Benefit You

This brochure illustrates improvements in FHA programs that will benefit you. Many aspects of the FHA mortgage application process have been streamlined to make the process more user friendly and efficient. Upon reading this brochure, you will see that FHA programs are a valuable asset to REALTORS® , other real estate professionals, and most importantly, those seeking to own a home.

View Full Guide Below...In Flip Book Fashion

Quick Search


Contact Information

Photo of Jenny & Randy Thomas Real Estate
Jenny & Randy Thomas
Keller Williams Realty; Team Thomas, REALTORS
2925 E Battlefield, Suite 111
Springfield MO 65804
Phone: 417-501-9988
417-883-4900
Fax: 417-447-9853

Team Randy Thomas on FacebookFacebook Neighborhood Fan PagesLinkedin for Team Randy ThomasTwitter for Team Randy ThomasBlog for Team Randy ThomasYouTube Channel for Team Randy Thomas

Team Randy & Jenny Thomas (Murney Associates, Realtors): Real Estate Agent in Springfield, MO