4000 MacArthur Blvd. Ste 800
Newport Beach CA 92660
Finding the right mortgage can be a big challenge. You will want to work with a lender that can give you the best rate, the right term and the lowest closing costs, as quickly and efficiently as possible.
MVP Lending has some of the best loan packages for home buyers and existing home owners and our knowldegeable advisors will help you decide which one is right for you.
The traditional 30-year fixed-rate mortgage has a constant interest rate and monthly payments that never change. This may be a good choice if you plan to stay in your home for seven years or longer. If you plan to move within seven years, then adjustable-rate loans are usually cheaper.
This loan is fully amortized over a 15-year period and features constant monthly payments. It offers all the advantages of the 30-year loan, plus a lower interest rate and you’ll own your home twice as fast. The disadvantage is that, with a 15-year loan, you commit to a higher monthly payment.
An FHA loan is a mortgage loan that is insured by the Federal Housing Administration (FHA). Essentially, the federal government insures loans for FHA-approved lenders in order to reduce their risk of loss if a borrower defaults on their mortgage payments.
A VA loan is a mortgage loan in the United States guaranteed by the U.S. Department of Veterans Affairs (VA). The loan may be issued by qualified lenders. The VA loan was designed to offer long-term financing to eligible American veterans or their surviving spouses (provided they do not remarry).
A jumbo loan is a loan that exceeds the conforming loan limits as set by Fannie Mae and Freddie Mac. As of 2021, the limit is $548,250 for most of the US, apart from Alaska, Hawaii, Guam, and the U.S. Virgin Islands, where the limit is $822,373. Rates tend to be a bit higher on jumbo loans because lenders generally have a higher risk.
4000 MacArthur Blvd. Ste 800
Newport Beach CA 92660
714.602.1334
mon-fri , 8AM - 5PMteam@mvplendingteam.com
we reply within 24 hrs