Which loan is right for me?
| Loan Program |
|
Advantages |
| Conventional Fixed Rate Mortgages |
- 30 Year Conforming Fixed
- 15 Year Conforming Fixed
|
- Monthly payments are fixed over the life of the loan
- Interest rate does not change
- Protected if rates go up
- Can refinance if rates go down
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|
| Loan Program |
|
Advantages |
|
FHA Mortgage
|
Federal Housing Authority financing can be used to purchase a new home or refinance an existing FHA loan
|
- FHA financing can be used to purchase a home, townhouse, condominium, or refinance an existing loan
- Minimal downpayment
- Monthly payments are fixed over the life of the loan
- Interest rate does not change
- Protected if rates go up
- Can refinance if rates go down
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| Loan Program |
|
Advantages |
| VA Mortgages
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VA financing can be used to purchase a new home or refinance an existing VA loan
|
- Minimal downpayment
- Most veterans pay a VA funding fee for their loans. Crown Mortgage allows the veteran to build the VA funding fee into the mortgage
- VA loans are assumable
- Crown Mortgage Company is a VA Automatic LAPP Lender so there is less red tape. We approve all veteran's applications for loan approval "in-house" and handle the appraisal review in the same "in-house" capacity with no downtown review
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| Loan Program |
|
Advantages |
| First Time Buyer Programs |
|
- Lower down payment
- Easier to qualify
- Lower rates may be available
|
|
| Loan Program |
|
Advantages |
| Over the Net Application |
Crown Mortgage Company gives you the convenience of over the internet approval
|
- Fill out the application at your convenience
- Quick and convenient application process
- Eliminate anxiety associated with obtaining a mortgage
- Monthly payments are fixed over the life of the loan
- Interest rate does not change
- Protected if rates go up
- Can refinance if rates go down
|
|
| Loan Program |
|
Advantages |
| 30 Minute EZ App |
Crown Mortgage Company gives you a mortgage commitment over the phone
|
- Obtain your mortgage from the convenience of your home or workplace
- Quick and convenient
- Eliminate anxiety associated with obtaining a mortgage
|
|
| Loan Program |
|
Advantages |
| Lock-N-Shop |
Crown Mortgage Company allows you to lock in an interest rate for a period of 30 days while shopping for a new home
|
- Shop with confidence knowing you are approved for a loan and have a guaranteed interest rate
- Concentrate solely on buying a new home
- Receive a lower rate, if, by the time a contract is signed (within 30 day period), rate move lower
|
|
| Loan Program |
|
Advantages |
| Guaranteed 10 Day Closing |
Crown Mortgage Company can close FHA or Conventional loans in 10 business days
|
- You can take advantage of Crown's speed and close your home in 10 business days
- Because Crown is a mortgage banker, all loans are processed in-house at our corporate office in Oak Lawn, IL
- Our loan application is thorough and our in-house appraisers can appraise the home within 4 business days, you are able to move swiftly from mortgage commitment to closing
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| Loan Program |
|
Advantages |
|
Refinance
|
Crown Mortgage Company allows you to refinance your current loan to reduce payments, shorten term, take cash out or consolidate debts
|
- Lifetime refinance - Crown will refinance your loan if it will reduce the payment
- Streamlined refinance - the only charge is updated title, the only documentation is your drivers license
- Regular refinance - cash out, consolidation and shorter term
|
|
| Loan Program |
|
Advantages |
| Sweat Equity Program |
Allows buyers to make required repairs/ improvements needed to their future home
|
- Apply value of the materials and repairs toward the down payment
- Provides an option to sellers who are physically unable or unwilling to make repairs or required municipal improvements
- Creates solutions for buyers that may be limited on funds for a down payment
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| Loan Programs |
|
Advantages |
| Float Down Program |
Crown Mortgage allows buyers to lock in their rate to a lower rate
|
- Buyers can lock in a rate knowing if rates go down they will be able to have a one-time opportunity to lock in a lower rate
- Buyers know they are receiving the best rate possible
|
In addition to our standard loan programs, you may benefit by obtaining one of our many special programs:
- Customized Re-Sale
- Interest Rate Buydown
- Debt Consolidation Program
- Non-Conforming Program
You may qualify even if you've been turned down before!