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When it comes to home loans, you can count on GenFed to keep your best interest in mind!
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We can help you refinance your current mortgage. Talk to one of our Loan Officers to find out if we can save you money with a reduced rate or shorten your payoff time.
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Fixed Rate Mortgages
With a fixed rate mortgage, you’ll know exactly what your loan payment will be every month until your loan is paid off. That’s because your interest rate is fixed for the life of the loan. A fixed rate mortgage might be your best option if you want predictability.
Adjustable Rate Mortgages
With an adjustable rate mortgage (ARM), you’ll receive a lower rate for a set period of time and start out with lower monthly payments. After that, your rate will adjust based on the terms of your loan. This is a good loan option if you expect your income to increase or expect to sell your home in the next few years.
A Balloon loan gives you the advantage of lower payments up front like an ARM combined with the fixed rates of a traditional fixed rate loan. Balloon loans tend to have shorter terms. With this loan, the majority of your loan amount will be due when the loan matures instead of being spread evenly across every payment.
You can use a Balloon loan for refinancing traditional real estate, non-conforming real estate, manufactured homes, single wide mobile homes with land, or land only. You can also use a Balloon loan to refinance an existing installment loan, consolidate your debt, pay for education expenses, and more.
GenFed’s NMLS number is 446241. Contact us to request a list of mortgage loan originators names and NMLS numbers.
See loan rates page for rates disclosures.