Mortgages in Chatham IL by Diamond Residential Mortgage Corp Can Save You Money

by | Mar 28, 2013 | Financial Services

You no doubt have heard about the restrictions in mortgage lending over the past five years. Well that trend has shifted back in favor of the homeowners with many programs specially designed to give aid in mortgages in Chatham IL. Diamond Residential Mortgage Corp offers homeowners a vast array of choices when it comes to residential mortgages of all types and sizes. Whether your home loan is a conforming mortgage or a non-conforming mortgage loan Diamond Residential Mortgage Corp can offer some of the most aggressive rates and advantageous mortgage programs in all of Illinois.

Diamond Residential Mortgage Corp is a mortgage brokerage institution that has the advantage of having scores of residential mortgage holding banks with which to offer their clients for their specific type of mortgage needs. Dealing with an institution such as ours you are able to compare and contrast offers from different lending sources in order to select which is right for you over the next 15 or 30 years.

Perhaps you know that within that time frame you will be moving and selling your home. In this instance it is in your best interest to keep your closing costs to a minimum and not expend the funds necessary for a reduction in interest rate. While you still want a competitive rate the difference in .125% and .250% matters not when you will not be averaging those savings for many years to come. Having expended an origination or discount fee in order to obtain the lowered interest rate will not have been an advantage when you will not be staying in the home long enough to realize the monthly benefit. In such a case a Diamond Residential Mortgage loan professional can show you options of an adjustable rate mortgage that may give you the best of both worlds. stay in your home is not long term.

But what about those who will never leave their home in this lifetime? Retirees’ that find it difficult to make financial ends meet each month have other options afforded their specific situation. A reverse mortgage loan is a program that offers the homeowner a withdrawal of capital and a monthly stipend to them each and every month for the remainder of their lives. The home is signed over to the lender and for the remainder of the borrower’s life the lender pays them to stay in the home until their demise. This is a great alternative to help financially struggling seniors who’s funds will not at the present support their extended life time.

With a Diamond Residential Mortgage Corp an adjustable rate mortgage will have the financial benefit of lower monthly payments over the first 3, 5 or 7 years at a point or two lower than the average fixed rate. If you know you will not be there when the mortgage rate changes it may be something to seriously consider. Your mortgage advisor at Diamond Residential Mortgage Corp can help decipher the many options you have when your plan to move in the future. Regardless of your future plans see Diamond Residential Mortgage Corp for your home refinancing Chatham IL needs.

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