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The Right Loan Every Time! |
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A significant part of what The Cavanaugh Team does is helping you decide on the right home loan. We firmly believe that The Cavanaugh Team’s ability to select from multiple lenders adds strength, flexibility and competitiveness for your home financing. Whether your transaction is for a home purchase, a refinance, an equity loan, a remodel, or a complete rebuild, remember, that lenders are in business to make loans and if it makes good sense they will do all possible to make the loan. How lenders work: 1) Income 2) Credit 3) Cash Based on these criteria you will fit into one of three categories. We have created these baskets below to illustrate our point. Basket #1 has every loan program imaginable, the best home interest rates and terms possible. If you are strong in all 3 of these areas, income, credit and cash, you will be able to select from this basket. When you hear an advertised rate on the radio or see one in the newspaper or TV, they are usually quoting from basket #1. Basket #2 is for borrowers who are strong in 2 of the 3 areas. For example if you have good credit and income but no money for the down payment then you fit into basket #2. Basket #2 usually has access to home interest rates that are slightly higher than basket #1 but are still great loan programs. Many borrowers fit into this basket. Basket #3 is for borrowers who are strong in one of the three categories. Because these loans are higher risk to the lender, the interest rate tends to be higher than basket #2, but with high credit scores, the rates can be fairly close. If you fit into this basket do not be deterred, we will work with you to secure creative financing for your individual situation. Which ever basket is most relevant to your situation, The Cavanaugh Team considers it our job to find the most competitive home interest rates and loan terms for you. In addition we will ensure you understand all of the costs and benefits of these options and secure a loan that meets your goals and time horizons. Learn more about the types of loans available for: |
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