The loan related to home is usually called mortgage. Many companies provide this kind of loan and other services to support clients.
One of them is Greentree Mortgage Company that gives several options to fill customer or client need. To know more about those options, just read the following sections
What is mortgage? This term is familiar because it’s one solution to obtain new home. In simple explanation, mortgage is a type of loan that people take based on the real estate or property as guarantee.
When you buy new home through mortgage, there is debt to be paid regularly alongside the interest. Therefore, any loan related to real estate will be considered as mortgage.
The mortgage from Greentree Mortgage Company is not just for purchasing. People can use mortgage to refinance or invest then gain more benefits. In this case, there are some documents and requirements to be fulfilled.
Refinance means assessing mortgage to get lower rate and payment in order to keep the home from financial difficulty. As you know, mortgage is long-term loan and there is uncertain situation in the future that may affect borrower.
Mortgage Options from Greentree Mortgage Company
Greentree Mortgage Company provides several loans. The most common one is conventional mortgage. This kind of mortgage is provided by various organizations, companies, institutions, etc.
In order to release this mortgage, they should follow the guideline from prominent rating institution, such as Fannie Mae and Freddie Mac. Greentree is one of companies that has conventional mortgage for customers. You can get mortgage directly from this company.
The next mortgage of Greentree comes from Federal Housing Administration. This kind of loan is backed and guaranteed by government. In general, FHA loan is similar to conventional one.
The requirements may be stricter, but some benefits attract more clients to choose this loan. Greentree Mortgage Company provides FHA loan with interesting services. The rates are competitive, even lower than conventional one.
FHA does not use credit score, so person with lower score is still eligible to have it. As similar to other mortgage, you can get various services using FHA loan, besides purchasing a home.
Other loans are VA mortgages and USDA loan. VA loan is specifically for military area, whether the active ones or veteran. This type of loan is issued by Department of Veteran Affairs.
In order to get this loan from Greentree Mortgage Company, you have to meet certain requirements. United States Department of Agriculture gives the issue for USDA loan. It is for niche market and you have to follow guideline to be eligible for this loan.
From all loans, Greentree Mortgage Company still has one interesting loan called reverse mortgage. It is only available for senior citizen.
Usually, you borrow money, and then pay the regular payment plus interest. On the other side, this loan gives homeowners to put their home into mortgage market then get money.
Instead of paying regularly, homeowner gains regular payment from borrower based on their home that’s issued. In simple explanation, you create your own mortgage as similar to company or institution.
Each loan on Greentree Mortgage has pros and cons. When you are ready to apply the loan, just visit greentreemortgage.com to get more information.
There is section that helps you to decide which loan is affordable with your financial status. Moreover, Greentree Mortgage Company has customer service at 856-596-8858.