District of Columbia mortgage loans is committed to helping you find the right mortgage and refinance product for your needs. We understand that every borrower is different, and we offer a varity of products to meet your individual requirements.
We can help you get the best deal on a home loan. You can refinance at today's low rates, consolidate high interest credit card bills, make home improvements, take a vacation and even get some extra cash. One free loan application will get you several loan offers. ANY property - ANY credit situation! Apply below.
This mortgage rate quote application will take approximately 60 seconds to complete. Here's how our service works:
1. Complete our short form below
2. We will search hundreds of mortgage lenders and thousands of loan programs in our database
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4. You choose the mortgage lender with the best rate and loan terms and save money!
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Our fast Mortgage application will help you find the perfect lender. It takes only one minute
This mortgage calculator can be used to figure out monthly payments of a home mortgage loan, based on the home's sale price, the term of the loan desired, buyer's down payment percentage, and the loan's interest rate. This calculator factors in PMI (Private Mortgage Insurance) for loans where less than 20% is put as a down payment. Also taken into consideration are the town property taxes, and their effect on the total monthly mortgage payment.
“We recently received an application from Angela P. who needed
to refinance her California home. While finding out her specific
goals for the refinance I learned that she was a foster mom and
cared for multiple "crack" babies that had been taken away from
their mothers at birth because of testing positive for an
illegal substance during labor,” states Gary Rees of
GoldMedalMortgage.com
“She was trying to utilize the equity in her home to remodel and
add a bedroom to make it more comfortable for the two teenage
and two newborn children her and her husband care for.”
“For their situation I decided that a Pay Option mortgage loan
program would give them the cash flow needed to cover
shortfalls. It also lowered their mortgage payment over 1500 a
month,” continues Rees.
A Pay Option Mortgage Loan allows the complete flexibility to
decide, every month, which of four mortgage payments you would
like to make.
This program is ideal for anybody that has fluctuating income
such as the self-employed. Pay Option is also an excellent
choice if you are looking to buy a new home and want the lowest
possible monthly payment, or if you simply just want to lower
your existing mortgage payment.
The Pay Option Mortgage is a relatively new product that allows
you four payment options each month.
1. 15 year payment- Pay your loan off and build equity faster as
well as save thousands of dollars in interest
2. 30 year payment- This option will let you know how much to
pay to have your home free and clear in the standard thirty years
3. Interest only option- This option allows you to pay only the
interest portion of your monthly payment so you can increase
monthly cash flow
4. 1% Minimum payment-This option allows you to pay your
mortgage at a 1% rate of interest for maximum savings
The Pay Option Mortgage is the absolute best adjustable mortgage
product available today. It has built in features that protect
you from the typical worries associated with an adjustable rate
mortgage.
One is the fact that your payment cannot increase more than 7.5%
above the previous year for the first five years. Another gives
you the option to convert to a fixed rate mortgage after the
first three years. With these features in place you can rest
easy with your new adjustable mortgage.
Here is an example of what a Pay Option Mortgage could for you
Estimated Current Monthly Payment - $1663.26 New first year
payment - $833.13 Estimated increased monthly cash flow- $830.13
Estimated increased yearly cash flow - $9961.52
Disclaimer-First years interest rate 1.25%. Interest charged at
3.45% for the first month. APR 3.74% subject to increase
monthly. 30-year loan.
This loan may have negative amortization. Max increase/decrease
in monthly payment is 7.5% per annum for the first five years.
This is an ARM product. Example payments based on 7.0% interest
rate and $250000 loan.
“During the loan process I got a chance to visit her home and
was really impressed by the cleanliness of both her home and all
the kids. I have three of my own and I can tell you it’s a
challenge to keep up the house and the kids and the homework.”
“Clearly a great family! We decided to waive our fees and pick
up the costs involved in this transaction for Mr. and Mrs. P who
are providing love and shelter to the innocent children
victimized by addiction."
“It was the least we could do for this amazing family that
breaks even after buying clothes and food for the kids. For
Angela and her husband, this is truly a labor of love!”
concludes Rees.
For more information on Pay Option Mortgage Loans please call
1-866-398-4664 or go to http://www.goldmedalmortgage52.com
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