There are a lot of different home loans out there, so it pays to have done some homework before picking one. Luckily, we’ve done some of that research for you! Check out some of the home loans we offer to get an idea of what might be right for you.
ABOUT TEWES LENDING
Tewes Lending is a mortgage brokerage that provides home loans through its wholesale lending partners. The brokerage is compiled of a team that helps its clients learn and understand the best loans for them.
We’re not, and that’s our advantage. As a mortgage broker, we partner with wholesale lenders who provide not only some of the lowest interest rates in the country but also simplistic experiences, making the process of getting a mortgage easy.
There’s a multitude of reasons, but we’ll keep it simple: we’re straightforward, experienced, and team players. At the end of the day, we want you to feel confident with the mortgage you’re getting, and we achieve that by offering education, simplifying the process, and providing pristine communication.
Anywhere in the great state of Florida!
The simple answer is anyone with a roof over their head, but we’re really for anyone looking to purchase or refinance in the coming months. We can also help those not sure if they should purchase or refinance anytime soon.
LOAN TYPES
The basics: Conventional, FHA, VA, USDA, and Jumbo. We have both Fixed and Adjustable rate options as well. Oh, and a couple interest-only options too!
Pretty much anything that’s residential, really. Whether this is a primary, secondary, or investment house, we’ve got you covered. The property can be a single-family residence, townhome, condo, or even a multi-family home (up to 4 units).
No, not at this time. Our sole focus is residential loans.
Tewes Lending does! Reach out to us to learn more about your Home Equity Line of Credit options we can provide.
Rates
We use a variety of factors to determine the best rate for you, including (but not limited to) your credit, loan amount, down payment, and property type.
Given that our wholesale lender partners pride themselves in great, low rates, we’d say we’re pretty competitive.
By taking three minutes to fill out our online application, and we’ll take care of the rest! Once the quote’s provided, we’ll reach out to gather more information so it’s as accurate as possible when the time comes to act. Remember that rates can change daily depending on the bonds market.
You can! You’ll have the freedom to pay up to a certain amount to drop your interest rate to one that you’d like. On the other hand, you can also increase your rate and therefore receive lender credit to help bring down your overall closing costs. Speak with one of our Loan Officers to learn more about this.
It is! Similar to how buyers’ realtors get compensated by the seller of a home, we get compensated from our wholesale lenders. We pride ourselves on having no junk fees and being as straight-forward as possible when it comes to what you will be expected to pay.
MISCELLANEOUS
The annual percentage rate (APR) is an interest rate reflecting the cost of a mortgage as a yearly rate. This rate is likely to be higher than the stated interest rate because it takes into account points and other Closing Costs. The APR allows homebuyers to compare different types of mortgages based on the annual cost for each loan. The APR is designed to measure the "true cost of a loan.”
Mortgage rates can change from the day you apply for a loan to the day you close the transaction. If interest rates rise sharply during the application process it can increase the borrower’s mortgage payment unexpectedly. Therefore, a lender can allow the borrower to "lock-in" the loan’s interest rate guaranteeing that rate for a specified time period, often 30-60 days.
It depends! Everyone’s scenario is different but what we look to verify is always the same: assets, income, employment history, real estate owned, and liabilities. We’d advise to be prepared to provide documents covering all of those above categories.
An appraisal is an estimate of a property's fair market value. It's a document generally required (depending on the loan program) by a lender before loan approval to ensure that the mortgage loan amount is not more than the value of the property.
PMI is basically an insurance policy you pay the lender that protects them in case of a loan default. Depending on the program and amount of equity in the property, PMI can be excluded or removed from the monthly equation.