Bethany Beach Delaware Home Loan

Finance Information

How much home can you afford? Use our finance center to learn about your loan options below. There are several loan programs available, and depending on your credit history, there is bound to be one that is perfect for you. Here are a few examples of the most popular programs offered today:

Fixed-Rate Loans

The fixed-rate mortgage is the most popular mortgage program in use today. Fixed-rate loans offer the borrow a fixed interest rate for the life of the loan, typically 15 to 30 years. Borrowers have peace of mind knowing that their monthly payment will not change over time. Conventional fixed-rate mortgages have underwriting requirements established by Freddie Mac and Fannie Mae, and require certain down-payment and debt-to-equity ratios to qualify. Fixed-rate loans are especially attractive to buyers who plan to stay in their home for more than a few years.

Adjustable Rate Loans

With an Adjustable Rate Mortgage (ARM), the interest rate changes periodically, and payments go up or down accordingly. Rates are tied to an index that reflects the cost of money at any given point in time. Generally speaking, lenders charge a lower initial interest rate for the ARM than for the fixed rate mortgage. If you are expecting interest rates to decrease in the future, or if you are trying to maximize your purchase power today knowing your income will rise in the future, then this loan may be right for you. Adjustable rate loans are attractive for buyers who expect to be in the home for a short period of time.

FHA and VA Loans

The Federal Housing Administration (FHA), offers loans for low-to-moderate-income home buyers. FHA loans have lower down payments, and have relatively easier requirements than conventional fixed-rate mortgages. FHA mortgages have no income restrictions and even those with lower credit scores may be considered. Past bankruptcy does not necessarily disqualify borrowers from using this program!

In addition, the Department of Veterans Affairs (VA) offers a zero-down mortgage program. To take advantage of this program, borrowers need to be among those listed as veterans and service personnel in the U.S. military. One of the biggest benefits of this program is that it eliminates the need for private mortgage insurance!

Local Homebuying Program

There are often many state and local programs available. These programs offer down-payment assistance and programs for local home ownership. Learn more about these local programs, recommended lenders, and other finance options by contacting us today!

Mortgage Calculator

A mortgage calculator can quickly and accurately determine both your mortgage payment and see how much you can afford by filling in just a few pieces of information. There’s no need to figure out a bunch of math equations and operations, just use the Bethany Beach Homes online Mortgage Calculator.

Mortgage Lenders

 

Susie Montague All American Mortgage

Education: Business Degree from Delaware Technical & Community College and a Hospitality degree from the Restaurant School in Philadelphia.  Career: Loan Originator since 2004. Joined All American Mortgage, LTD in 2009. Susie also provides insurance services through Carey Insurance.  Community Service: Member of Bay Shore Community Church. Enjoys supporting local charities.  Hobbies: Spending time with family, loves to cook, run and meet new people.

Education: Business Degree from Delaware Technical & Community College and a Hospitality degree from the Restaurant School in Philadelphia.
Career: Loan Originator since 2004. Joined All American Mortgage, LTD in 2009. Susie also provides insurance services through Carey Insurance.
Community Service: Member of Bay Shore Community Church. Enjoys supporting local charities.
Hobbies: Spending time with family, loves to cook, run and meet new people.


 

Jeff Baxter Fairway Independent Mortgage

Jeff Baxter - With over 30 years experience in financial services, I can skillfully assist you with the purchase or refinance of your Bethany Beach home, vacation home, investment property and/or personal residence. If you're looking for knowledgeable advice, pertinent information, and the best service in the mortgage business, you've come to the right place. Read about my thoughts on today's market right here and review current news. I love to talk about the business, so contact me today and let's discuss your needs.

Contact Information

Photo of Ashley Brosnahan Beach Team Real Estate
Ashley Brosnahan Beach Team
Long & Foster Realtors
33298 S. Coastal Highway
Bethany Beach DE 19930
Ashley: (302) 841-4200
Heather: (302) 858-7805 Neil: (302) 462-6196