Bad Credit Home Loans offers new home purchases, home refinancing, home equity loans, sub prime, FHA, Fannie Mae, bridge loans and more. We can offer consumers in Utah a quick and easy way to get in touch with the mortgage and financial services they need. We can help you consolidate your debt by offering you a debt consolidation loan. Complete the quick application form and a finance consultant will contact you and help you reach your financial goals.
Buy-Down When the lender and/or the home builder subsidized the mortgage by lowering the interest rate during the first few years of the loan. While the payments are initially low, they will increase when the subsidy expires. These are sometimes used to qualify borrowers for a loan amount that they would not otherwise qualify for but will be able to pay in subsequent years as their income increases.
First Mortgage A real estate loan with a lien (i.e., mortgage or deed of trust) on the subject property that has priority over any subsequently lien or financial encumbrances.
Gross Monthly Income The total monthly income earned before taxes and any other deductions.
Simple Interest Interest which is computed only on the principle balance.
