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HIBISCUS HOMES MORTGAGE

Mortgage preapproval can be accomplished quickly and easily. Because it involves completing the loan application and credit review stages, It lets you know how much home you can afford.This will allow you to be several steps ahead in the mortgage process when you've found the home of your dreams.

Processing:
To begin with, all information required to process your loan will be collected by your mortgage consultant.The necessary documentation will depend on your selected loan program as well as your individual financial credit and profile.

Decision:
You'll be relieved to know that today's approval process is much easier and much faster because of automated underwriting which simplifies document requirements and results in speedier approvals. Naturally, your income, credit background and financial history are extremely important; but remember that trained underwriters are also on the job to find a loan that is just right for you.

Pre-Closing:
Prior to closing, your home mortgage consultant will advise you on the necessity of providing certain insurance and real estate-related documents. Additionally, the consultant will explain the closing procedure and alert you to any required fees which usually vary depending on where a home is purchased. Finally, you'll learn the precise amount of money needed for closing and if you need to bring any additional documents.

TheClosing:
Simply put, the closing is a legal procedure where ownership of the property is transferred from the seller (home builder) to you (home buyer). On this scheduled date, you now take ownership. Typically, proceedings are conducted by a title agency representative, depending on area requirements. The closing is also a final distribution of funds and paperwork as agreed upon by buyer and seller. Hibiscus Homes wants your home buying experience to be one a lifetime. That's why there will always be a helping hand to advise and guide you right up to the moment you step through the doors of your home.

The Mortgage Loan to Get You Home

Hibiscus homes could offer you through our financial partners a variety of loan programs tailored to your individual needs. Our team of loan professionals can take a payment you’re comfortable with and help you make it work overtime. So, instead of dreaming about the perfect home, you’ll actually be living in it. Here are just a few of our most popular loan programs:

Fixed-Rate Mortgages
This loan is a good option for people who want the stability of a payment that won’t change. With a fixed-rate mortgage, your principal and interest payments remain the same for the duration of the loan, although property taxes and insurance costs may increase.

Adjustable-Rate Mortgages (ARMs)
ARMs generally offer lower initial interest rates than comparable fixed-rate mortgages, which can increase your purchasing power. ARMs make a lot of sense if you plan move to another home or refinance in the relatively near future. This allows you to take advantage of the lower initial rates and payments at the early part of the loan before you see any significant increases.

Interest-Only Mortgages
With this loan, you only pay the interest portion of your mortgage, which means your monthly payments won’t build equity. However, there are three major benefits: 1) You can qualify for more home. 2) Your mortgage payment becomes lower. 3) It frees up more cash, allowing you to invest the money you would have paid toward the principal in other higher-yielding investments.

$0 Down Payment Mortgages
$0 down programs can accelerate your purchase plans by allowing you to buy a home without without the traditional 20 percent down.

Payment Calculators

How much will my mortgage payments be?
This calculator calculates your monthly mortgage payment for a given loan amount, interest rate and loan term.

How much will my adjustable rate payments be?
This calculator calculates your monthly payment for an adjustable-rate mortgage (ARM) loan, given a loan amount and loan terms. Payments on an adjustable-rate mortgage are fixed for an initial period and are usually adjusted annually after the initial period. For example, a 3/1 ARM loan would have a fixed rate for the first three years and be readjusted once a year thereafter.

Which is better: fixed or adjustable?
This calculator calculates the monthly mortgage payment for a fixed- and adjustable-rate mortgage (ARM) loan, given their respective interest rates and other loan terms.

How much should I put down for a new home?
This calculator calculates your monthly mortgage payment for two loans, given a down payment and other loan terms.