Finding
the Right Mortgage
Finding
the right mortgage for your purchase can be as important
as buying a home. There are many different options to choose
from. Contact a NEHM Loan Officer at 1-800-784-5450. Fixed
Rate Mortgage Get the assurance of knowing what your
payment will be each month.
Adjustable Rate Mortgage Lower initial interest rates give you more borrowing
power.
Construction Mortgage This mortgage will help you build your dream home
from the ground up.
Jumbo Mortgage For those who are borrowing over $322,700.
Government Mortgage Mortgages for those with special financing needs.
Reverse Mortgage You've earned it! Here's an option specially designed
to add more financial security for the senior citizen.
Fixed Rate Mortgage
NEHM's fixed rate mortgages give you the stability and security of having
the same monthly payment and interest rate for the life of your loan. NEHM
offers
a variety of programs for both the conventional and jumbo loan amounts. Adjustable Rate Mortgage
The flexibility of an adjustable rate mortgage may be the
best option for your needs.
- The interest rate varies during the life of the loan, in
line with movements in the index rate.
- Most adjustable rate mortgages have established annual
and lifetime interest rate caps with pre-determined
change dates for the term of
the loan.
- Lower initial interest rates give you increased borrowing
power, while annual and lifetime interest rate caps
increase security.
Construction Mortgage
Ready to build your home? NEHM can finance the construction
costs of building your home. NEHM will finance the land
and construction of your
home in
one loan so there's only one closing. We offer a wide range of programs,
including
fixed rates. Construction of your home can be stick-build, modular
or a pre-fabricated. If you're looking to purchase a home
or refinance a
home
that needs improvements,
NEHM mortgage experts can structure a program that's right for you.
Interest only programs available. Jumbo Mortgage
A "Jumbo Mortgage" refers to mortgage amounts currently defined
by Fannie Mae as over $322,700 for a single-family home and higher loan amounts
for multi-unit homes. NEHM offers next day approval on loans up to $1,000,000
or more at competitive fixed or adjustable rates. We make the process easy.
Government
Mortgage
NEHMs
line of affordable mortgages meet the needs of many people
who find themselves in the market for a home. Most of these
programs have low down payment requirements and attractive
interest rates for eligible borrowers. Webster works closely
with different agencies to deliver outstanding programs to
today's homebuyers:
- Finance
Authority of Maine (FAME)
- Federal Housing Authority (FHA)
- Veterans Administration (VA)
NEHM also offers the Down Payment Assistance program
(through FAME) for qualified individuals applying
for a FAME loan.
Reverse
Mortgage
Reverse
Mortgages are a great opportunity to add
to your financial security if you are a senior citizen
and a homeowner. This
government-insured program allows homeowners
to use a portion of the equity in their home to:
- Supplement their income
- Pay off debt
- Make home repairs
- Pay for in-home care
- Buy a car
- Take a trip
- Almost anything else you can think of
Funds from the mortgage may be received in monthly
installments, a lump sum, or a line
of credit. No repayment is required until the
borrower
no longer resides in the home or it is sold.
Proceeds from a reverse
mortgage are tax-free
and title to the property remains in the
homeowner's name.
Call NEHM at 1-800-784-5450 for more
information on how to take advantage of this special
mortgage.
Top
|
