MAR 24, 2019 0

Mortgage Loans


Comparable.com offers a free service which simplifies the process of shopping for a mortgage loan. Whether you are a first time home buyer, or refinancing a home or rental property, Comparable.com offers solutions tailored to your needs so you get matched with a great loan, fast. We offer options for borrowers across the credit spectrum.

Our website uses smart technology to quickly match your loan request with our network of lenders in all 50 states.

With so many mortgage loan options available at Comparable.com borrowers can save both time and money. Simply fill out the short application and review your options rather than spending valuable hours looking for solutions.

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Why you should choose Comparable.com?

Comparable is on a mission to give consumers and more effective way to find great loans, faster.

Features

  • Quickly Matched to Appropriate Loans
  • Highly Rated Lenders Identified and Offered
  • Always Confidential, Safe, and Secure
  • Offered in all 50 States
  • U.S.-Based Support Staff

Benefits

  • Applying for a Loan at Comparable.com is Free
  • Easy and Efficient Process
  • Intelligent Options and Great Choices
  • Helpful and Friendly Service
  • Offers Peace of Mind

 

 

What Types of Mortgage Loans are Available?

There are a number of mortgage loan types available in the marketplace:

Conventional Mortgages. The most common type of mortgage is the “Conventional Mortgage” Conventional Mortgages typically require at least a 10% down payment and good credit. They are available over 15 or 30 year periods or “interest only”, which offers a lower payment but no pay down of the mortgage balance over time.

FHA Mortgages. Commonly thought of as first-time home buyer mortgages, FHA Mortgages are actually government-backed mortgages insured through the Federal Housing Administration. Borrowers pay mortgage insurance to protect lenders from loss, but generally enjoy good interest rates and down payments as low as 3.5%. Approval rates on FHA Mortgages are less stringent than those for Conventional Mortgages; however borrowers with credit scores of 500-579 have to put down at least 10%. Borrowers must also be at least 2 years removed from bankruptcy and 3 years from foreclosures.

Adjustable Rate Mortgages (ARMs). These have rates that start out lower than the current rates and rates are typically fixed for a period of one, two, or five years, after which the rates adjust based on market conditions.

VA Loans. VA Loans are zero-down payment loans, but you must be a veteran to qualify.  Issued and approved by the U.S. Department of Veterans Affair, the program began at the end of World War II to help service members buy homes without excellent credit or a down payment.

What is Mortgage Insurance?

Mortgage Insurance. Very simply, if you put less than 20% down on certain mortgage loans, you lender may charge mortgage insurance to cover itself in case you default on the loan. The cost of mortgage insurance can vary depending on the type of loan and in some cases is deductible on taxes.

How to Find the Right Mortgage Loan?

Comparable.com offers the expertise to match you with the best loan option, quickly and easily. Comparable.com works with leading lenders across the country to offer consumers efficiency and choice with a simple process. Best of all, there is NO COST to apply