Loan Document Notarization
The below Real Estate Loans must be notarized before closing on a property
Fixed-Rate Loan
This is the most common type of conventional loan. It prescribes a single interest rate and monthly payment for the entire loan term (typically 15 or 30 years). It’s ideal for homeowners who value predictability and plan to stay in their home for a significant period
Adjustable-Rate Mortgage (ARM)
ARMs offer lower initial interest rates than fixed-rate mortgages, but they adjust periodically (usually every year) based on current interest rates. Homebuyers with lower credit scores may find ARMs suitable.
VA Loan
Specifically for military service members and veterans, VA loans offer favorable terms, including no down payment and no private mortgage insurance (PMI)
FHA Insured Loan
Designed for first-time buyers, FHA loans have lower down payment requirements and are backed by the Federal Housing Administration (FHA)
USDA Home Loan
These loans are for rural areas and offer low-interest rates and no down payment requirements for eligible properties
Conventional Loan
Not government-backed, conventional loans are suitable for borrowers with good credit. They come with various down payment options.
Jumbo Loan
If you’re buying a high-value property that exceeds conforming loan limits, a jumbo loan is necessary.
Home Equity Line of Credit (HELOC)
A HELOC allows homeowners to borrow against their home equity. It’s like a credit card with a variable interest rate, secured by your property. You can draw funds as needed and repay them over time
Reverse Mortgage
Designed for older homeowners, a reverse mortgage allows you to convert home equity into cash. You receive payments from the lender, and the loan is repaid when you sell the home or pass away. It’s essential to understand the terms and eligibility criteria before considering a reverse mortgage
