How to Apply
At Blake Mortgage, we make the
the process of getting any loan
fast and simple.
What Type of Loan Do You Need?
The type of loan you choose needs to be tailored to your situation. At Blake mortgage, we offer a variety of loans that can help you secure or refinance a property. Everything you need to get from point A to point B is available through the help of our experienced team. Let’s take a look at some of the different types of loans available and why they might be the right choice for you.
Do you have a question about our process of getting a particular type of loan? Learn more below, or feel free to contact us. We look forward to hearing from you!
Which Loan is Right for Me?
At Blake Mortgage, we will use our years of financial experience to deduce which loan best suits your situation. We ask all the right questions to reach the soundest conclusions.
The answers to these questions and more can help us determine the type of loan you need. We also provide as much information as possible so that you can make an informed decision.
Do I Qualify?
Loans that require qualification will also be assessed and thoroughly considered. For instance, if you are a veteran seeking assistance, we will be quick to offer you the specialized VA loan. Getting you prequalified for the loan that suits you is crucial so that you may be able to close on the property you have your eye on. Once the process has begun, at Blake Mortgage, we will be sure to work hard so that we can have an answer for you as quickly as possible.
Our home purchase loans provide you with the financial resources to acquire the home of your dreams. Whether you are looking for a conventional loan or need something more specific, each of the home purchase loans listed here will offer a unique avenue to our mutual goal.
Years of experience in the finance sector allow us to best advise you regarding the type of loan that is best suited for you. The list we provide here is an overview of the loans we can help you secure for the purchase of your home. Feel free to contact us with any questions regarding these loans at any time. We await your calls.
Conventional/fixed-rate loans are always an excellent choice, and typically the one we will offer first. Fixed-rate mortgages offer home buyer consistency since the monthly payments won’t change throughout the pendency of the loan. Once the rate has been set and explained, we can begin to budget and calculate what the repayment period and the EMIs will look like. Think of this plan as your plain-vanilla type of mortgage – it’s a secure option.
Standard/fixed-rate mortgages are made available in 10, 15, 20, 30 and sometimes even 40-year terms. At Blake Mortgage, we help you find the rate that is best suited for your situation. Most families will opt for 15 or 30-year plans, but all plans can be worked out to the buyer’s benefit, which makes this kind of loan the first choice.
VA loans are tailored to help servicemen and women close on their desired property. VA loans are meant to smooth out the process of home buying for veterans by expediting it, waving a down payment and keeping in mind the need for relocation. VA loans are guaranteed by the Department of Veteran Affairs who oversees that the process is carried out swiftly.
We are happy to partner with organizations like Veteran Affairs to deliver the loans that servicemen and women need. Blake Mortgage is and has always been an avid supporter of our armed forces.
Unlike the fixed-rate mortgage, the adjustable-rate mortgage can change over time. Interest rates will vary throughout the life of the loan, depending on the current economy. Certain factors come into play, such as the cost of borrowing money, the current market state, and other economic downturns and surges.
Adjustable Rate Mortgages or ARMs can begin as fixed-rate mortgages and eventually start to change rates. A popular choice is the 5/1 loan where the price remains the same for the first five years and then changes for the remainder of the loan’s life cycle.
Construction loans are handed out for the specific purpose of a home’s construction or renovation for equity purposes. While these loans are not typical, at Blake Mortgage, we have and continue to offer them. Construction loans are assigned to homes that will serve as the primary residence of the borrower, and in some cases can be used to renovate or remodel the house for increased equity.
FHA loans are also offered at Blake Mortgage; these loans can be beneficial to someone in need. The Federal Housing Administration ensures that the loans come equipped with built-in mortgage insurance in the case that the borrower fails to repay the loan. One of the upsides to FHA loans is that the down payment is smaller. If we believe you may qualify and benefit from an FHA loan, it is undoubtedly something we will explore.
Certain loans are considered to be unusual but that here at Blake Mortgage we certainly look into. Jumbo, balloon, and piggyback mortgage loans which can help a buyer handle his or her mortgage payments over time. For instance, a balloon loan will have the borrower paying a fixed-rate interest for the first five years of the loan at which point the entire principal balance will be due. While a loan of this nature may seem extreme, it can be beneficial for a borrower in a very particular financial situation.
Let's Get Started
Our Loan Questionnaire will help you get a head start on the process. Once you have a good idea of what you need, you may come down to our offices for a free consultation. The goal of each consultation is to paint a clear picture of the goals at hand and how to reach them.
We are your ally in the quest to finding the home you desire. Let’s get the process started today!