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Mortgage Loan Products

Right By You Mortgage offers a variety of mortgage loan products to meet your needs. To learn more about any of the mortgage solutions below, contact a local loan officer or call 1-877-552-2242.

PURCHASING A HOME

Buying a home is a life-changing event. With the Right By You Mortgage team, you get the knowledge you need to move through the process with confidence. Right By You Mortgage offers the following types of loans for home purchase:

 

Fixed Rate Mortgages

This type of mortgage allows you to look forward to consistent payments over the life of your loan. A fixed rate provides you with peace of mind, protection from market movements and helps you plan for a consistent budget.

 

Adjustable Rate Mortgages

This type of mortgage gives you flexibility because your interest rate changes after a fixed amount of time.

 

Jumbo Mortgages

For homes that require a larger loan, we offer a variety of jumbo mortgage options. A jumbo loan ban be a fixed-rate or adjustable-rate loan and financing may be available up to 95% of your purchase price. Medical Professionals may qualify to finance up to 100% of the purchase price. Special rate discount available to customers with automatic payments from a Fidelity Bank account.

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First Time Homebuyer Mortgage

This adjustable-rate mortgage program offers you flexibility when you are buying your first home by allowing you to finance up to 100% of your purchase price. Community Partners (Teachers, Firemen, Police Officers, Nurses and EMT/Paramedics) may qualify for additional financing incentives. Special rate discount available to customers with automatic payments from a Fidelity Bank account.

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Combination Loan

This fixed-rate mortgage allows you to purchase a home with as little as 10% down without the need for Mortgage Insurance. This financing splits your loan into two mortgages allowing you to spend less upfront. Special rate discount available to customers with automatic payments from a Fidelity Bank account.

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Federal Housing Administration (FHA)

These loans can be fixed-rate or adjustable-rate and are backed by the government’s Federal Housing Administration(FHA). These loans typically offer flexible credit guidelines and allow you to finance up to 96.5% of your  purchase price.

 

United States Department of Agriculture (USDA)

This type of loan is only for homes located in an eligible rural area. A USDA loan requires no down payment and finances up to 100% of your purchase price.

 

Veterans Affairs (VA)

Eligible veterans or active duty service members can enjoy their VA benefits through this type of loan. VA loans offer less restrictive credit criteria and no down payment or no private mortgage insurance (PMI).

 

Sign up for our New On-Time Closing Guarantee!

With our Right By You Guarantee, you will have peace of mind in knowing your loan will close on time so that you can move into your home as scheduled! If you don’t close on time, we pay the buyer and the seller $500. Learn how you can qualify for the Right By You Guarantee.

 

 

REFINANCING YOUR HOUSE

Refinancing can be a smart choice for many homeowners.  Benefits of refinancing include:

  • Potentially obtaining a lower interest rate on the outstanding balance of your mortgage to lower your monthly payments and/or decrease the total amount of interest you pay over the life of your loan.
  • Accessing cash through the equity you have built during the time you have owned your home. Equity is the difference between the current value of your home and the amount you still owe on your current mortgage. Many people use the equity available through refinancing to:
    • Consolidate debt
    • Make home improvements
    • Finance a college education

 

Right By You Mortgage offers the following mortgage loan products for refinancing your home:

 

Fixed Rate Mortgages

This type of mortgage allows you to look forward to consistent payments over the life of your loan. A fixed rate provides you with peace of mind, protection from market movements and helps you plan for a consistent budget.

 

Adjustable-Rate Mortgages

This type of mortgage gives you flexibility. Its interest rate changes after a fixed amount of time. ARMs can be a great option if you plan on staying in the home for a short amount of time because it typically offers lower interest rates than fixed-rate mortgages.

 

Jumbo Mortgages

For homes that require a larger loan, we offer a variety of jumbo mortgage options. This type of loan will allow you to refinance a  home that is above conforming loan limits but can include additional credit guidelines and a larger equity position. A jumbo loan can be a fixed-rate or adjustable-rate loan.

 

Federal Housing Administration (FHA)

FHA loans can be fixed-rate or adjustable-rate. FHA loans also typically offer flexible credit guidelines and allow refinancing one FHA loan with another FHA loan with minimal documentation. FHA loans can be fixed-rate or adjustable-rate. The mortgage is backed by the government’s Federal Housing Administration.

 

United States Department of Agriculture (USDA)

This type of loan is only for homes located in an eligible rural area. A USDA loan offers 100 percent financing and expanded credit criteria. It may be a great option to consider as you’re considering refinancing options.

 

Veterans Affairs (VA)

Eligible veterans or active duty service members can enjoy their VA benefits through this type of loan. VA loans offer less restrictive credit criteria and options for 100 percent financing and no private mortgage insurance (PMI). If you are refinancing a VA loan to another VA loan, there may be options for reduced documentation as well.

 

Building a New Home

Have you found the perfect floor plan for a custom-built home? Our construction loan program1 offers solutions to make your vision a reality.

While your home is under construction, we monitor the progress and provide the funds to your builder. With a system of reliable and consistent disbursements in place, you’re more likely to see steady and efficient building progress. You only pay for interest during this phase.

Once your home is complete, you’re able to convert the loan to a permanent mortgage with competitive rates and no origination fee. Explore the flexibility and extended rate-lock options of our construction loans with one of our loan officers today.

 

 

1 two-time closing required.