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
Adjustable-rate mortgages (ARMs) are hybrid mortgages, because they have a fixed rate for the first part of the loan and then an adjustable rate following the initial fixed rate period. If you’re thinking about an adjustable-rate mortgage, you’ll also need to choose a term.
We offer the most common types of adjustable-rate mortgages:
- 5/5 ARM
- 7/1 ARM
- 10/1 ARM
To select the right loan, you’ll need to consider the next 5 to 10 years of your life. Are you planning on moving or changing careers? Are you expecting an increase in income, a settlement, or inheritance? Are you a business owner with unpredictable income? Are you planning on getting married or having children? These are just a few of the things you need to consider when choosing the loan that’s right for you.
Contact one of our Loan Officers, we’ll be happy to help you.
Jumbo Mortgages
For homes that require a larger loan, we offer a variety of jumbo mortgage options. A jumbo loan can be a 10, 15, or 30-year fixed-rate loan and financing may be available up to 80% of your purchase price.
Loans for Business Owners
Does the thought of going through the traditional mortgage process scare you? Right By You Mortgage offers a loan program to meet the unique needs of business owners. Plus, enjoy a special rate discount if you set up an automatic payments from a Fidelity Bank account.
100% Home Loan
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.
Second Home Loan
A second home means the vacation never has to end! With up to 70% financing, our second home loan program offers a variety of flexible terms and competitive rates to help you get in the home of your dreams faster. Plus, enjoy a special rate discount if you set up an automatic payments from a Fidelity Bank account.
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.
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. We offer the most common types of adjustable-rate mortgages: 5/5 ARM, 7/1 ARM, & 10/1 ARM.
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 programs offer solutions to make your vision a reality.