mortgage loans

Mortgage Loans
Home Mortgage Loan
Refinance-New Purchase

There are a variety of mortgage loans and home loans available to you today. In fact, it's hard to keep up with all of the available loan programs. So, educate yourself on what is available and choose your loan originator carefully. After all this could very well be the most important financial decision you will ever make.

Some of the mortgage loans available today include interest only, ARM, option arm, fixed, 100% financing, investment property and many more. You can finance your home for 5, 10, 15, 30 or even 40 years. You may also consider a HELOC, or Home Equity Line of Credit, a home loan based on your Home Equity

Now is the time to take advantage of the low interest rates and secure your property for personal or investment use. Build your dream home, buy that property you've had your eye on. You may consider a loan that allows you to consolidate bad debt and take advantage of tax benefits by refinancing your property.

Since most people view their house as an asset and their mortgage as debt, most would like to own their homes free and clear, without a mortgage. And, since many so called "Financial Gurus" preach this message, we tend to believe it is in our best interest. But, when you look at all the numbers it doesn't always make sense.

When you think about your mortgage, making extra extra payments and paying it off early, sounds like a good idea. The logic is that you can save interest and therefore save money on the cost of the home. And, it is true that prepaying a mortgage can save you loan interest over time.

The thing that most people don't understand is that this savings on interest may come at the expense of experiencing a lost opportunity cost on the extra payments made and paying more in income taxes, which may result in greater costs than the loan interest saved.

Rarely will the financial institutions explain or calculate these costs, yet they are quick to point out the interest you may save.

As a consumer, you should be careful to obtain a complete and proper analysis before spending your hard earned money on paying down their mortgage faster.

At Legacy we feel that most consumers would be doing themselves a disservice by paying down their mortgage faster in order to save the loan interest. In most cases, the lost rate of return on the extra payments and the lost tax deductions are greater than the loan interest savings over time. It's your choice, but your decision should only come after a full understanding of the facts.

Let me help you understand ALL of the facts. Get the MOST out of your Mortgage and learn how to make it work for you. Choose the BEST Mortgage Loan for YOUR goals.

Why pay outrageous fees and higher rates?

Thinking of buying or refinancing your home? Don't do it until you understand the facts. Call Barry Page at (228) 875-5545