Your Mortgage Your Way

You choose your term from 8-30 years, and everything in between.

Your Mortgage, Your Way offers fixed rate pricing so you can take advantage of great low rates with the peace of mind knowing your rate will not change.

Want to Refinance but don’t want to lose payment years?

This program can be particularly beneficial if you are looking to refinance, but don’t want to move back into a longer term loan. With Your Mortgage, Your Way — you can pick up right where you are, while taking advantage of today’s rates.

Choosing your term means choosing your payment has your income changed? Do you have a child going to college? Do you simply want to pay off your mortgage in a timelier manner? Your Mortgage, Your Way enables you to choose the payment you want by refinancing your loan into a number of years that works best for you.

Don’t want to be burdened with higher monthly payments? You choose a longer term.
Want to pay your mortgage off more quickly? You choose a shorter term.

With Medford Mortgage’s Your Mortgage, Your Way, the choice is yours. Contact us today at (609) 848-5715 or fill out a FREE quote to discuss your first time home buyer needs!

Adjustable Rate Mortgage (ARM)

If the traditional 15, 20 and 30 year fixed mortgage terms are not helping you reach your financial goals, Medford Mortgage offers Your Mortgage Your Way – a program that allows you to choose your very own mortgage term. Simply stated: For borrowers who are seeking short-term security and stability, an Adjustable Rate Mortgage (ARM) provides a fixed payment for a specified period of time, normally at lower rates than offered for a fixed rate mortgage. ARMs are tied to an index, where as the rate changes your payments can go up or down in relation to those changes. With adjustable rate mortgages, the initial rate can be lower than fixed-rate mortgages because the borrower assumes risk over the life of the loan and possible higher payments down the road. However, if rates remain steady or low over a long period of time an ARM could be a less expensive option. An ARM could be a great option for you if you plan on owning your home for a few years, or plan on refinancing shortly after purchasing. Deciding on an ARM depends highly on current interest rates and your individual situation and flexibility. Contact Us Today at (609) 848-5715 or fill out a FREE quote to discuss your first time home buyer needs!

Simply stated: For borrowers who are seeking short-term security and stability, an Adjustable Rate Mortgage (ARM) provides a fixed payment for a specified period of time, normally at lower rates than offered for a fixed rate mortgage. ARMs are tied to an index, where as the rate changes your payments can go up or down in relation to those changes.

With adjustable rate mortgages, the initial rate can be lower than fixed-rate mortgages because the borrower assumes risk over the life of the loan and possible higher payments down the road. However, if rates remain steady or low over a long period of time an ARM could be a less expensive option.

An ARM could be a great option for you if you plan on owning your home for a few years, or plan on refinancing shortly after purchasing. Deciding on an ARM depends highly on current interest rates and your individual situation and flexibility.

FHA Loan

FHA & First Time Homebuyer

FHA loans have been helping people become homeowners since 1934. The Federal Housing Administration (FHA) – which is part of HUD – helps borrowers, who may not qualify for more conventional programs.

Low down payments
Low closing costs
Easy credit qualifying.

A Federal Housing Administration (FHA) loan may be a good option for you if:

you’re a first-time homebuyer
you do not have a lot of money to put down on a house
you are looking to have a low, stable monthly payment
you have less than perfect credit

Medford Mortgage combines the expertise and comprehensive array of mortgage products offered by national banks with a culture that prioritizes unparalleled personal service. We understand that each borrower has unique goals. We specialize in creating custom mortgage solutions tailored to meet the needs of each individual client. Medford Mortgage offers rates below the industry average, coupled with award-winning customer service – earning us an A rating with the BBB. We offer: Better Rates. Better Service. A Better Mortgage.

With Medford Mortgage the choice is yours. Contact Us Today at (609) 848-5715 or fill out a FREE quote to discuss your first time home buyer needs!

30-Year Fixed Mortgage

Do you plan to stay in your home for many years?
Do you prefer a consistent mortgage payment for budget planning?
Does your peace of mind depend on a payment that never changes?

If you answered “yes” to any of these questions, a 30-year fixed-rate mortgage might be right for you! Since your rate won’t change for the life of your loan, your payment will never increase.

HARP

If you’re not behind on your mortgage payments but have been unable to get traditional refinancing because the value of your home had declined, you may be eligible to refinance through the Home Affordable Refinance Program (HARP). HARP is designed to help you get a new, more affordable, more stable mortgage. HARP refinance loans require a loan application and underwriting process, and refinance fees will apply.

You may be eligible for HARP if you meet all of the following criteria:

The mortgage must be owned or guaranteed by Freddie Mac or Fannie Mae
The mortgage must have been sold to Fannie Mae or Freddie Mac before May 31, 2009
The mortgage cannot have been refinanced under HARP previously unless it is a Fannie Mae loan that was refinanced under HARP from March-May 2009
The current loan-to-value (LTV) ratio must be greater than 80%
The borrower must be current on the mortgage at the time of the refinance, with a good payment history in the past 12 months

Jumbo Loan

A jumbo loan is for borrowers who require loan amounts that exceed the existing Fannie Mae conforming loan limits. We are able to offer aggressively low interest rates, while closing your loan quickly. Also, with Medford Mortgage you receive one-on-one communication, and 24/7 availability throughout the financing process from one of the nation’s top customer rated mortgage lenders.

Loan amounts up to $3,000,000
Flexible fixed and adjustable rate programs available
Portfolio Service Program
Requirements vary by state/county

Jumbo loans are available for primary/secondary residences. Custom programs are available, depending on the parameters of the transaction.

USDA Mortgage

United States Department of Agriculture (USDA) loans stand alone as the only zero money down program available to borrowers that have not served in the military. If you are in the market for a home outside a major metropolitan area you may qualify for a USDA Loan. A USDA loan offers:

$0 down, 100% financing
No monthly mortgage insurance
Potential for lower income families and those with blemished credit to qualify

Some of the eligibility standards that determine if you qualify for a USDA loan include the county and zip code where the home resides, your current income and credit history, and the number of dependents you claim. Because these guidelines are very specific, it is important to work with a lender that has experience dealing with USDA government financing to help determine your eligibility.

Fixed Rate Mortgage

For borrowers who prefer not to document their income or release their financial statements. Programs allow a client the flexibility of choosing between fixed rate and ARM products with little or no documentation requirements.

VA Loan

VA (Veterans Affairs) loans are home loans for the purchase or refinance of a primary residence available to consumers who have served or are presently serving in the U.S. military. VA loans can be are a great choice for those who qualify. Once that’s determined, the next step is to find out how much you can borrow. Our VA Loan specialists will ensure you are getting the mortgage that is right for you. We are proud to serve those have served our country.

Who Qualifies:

If you’re an honorably discharged veteran, are currently serving on active duty or have completed a total of six years of service in the National Guard or selected reserves, you are eligible for a VA loan. Certain surviving spouses of veterans are also eligible.

While the Department of Veterans Affairs (VA) does not lend money for VA loans, it backs loans made by private lenders (banks, savings and loans, or mortgage companies) to veterans who qualify.

Loan limits are $417,000 in most areas of the country but are higher in certain regions.

Benefits of a VA loan:

Purchase with $0 down. Most loans require a minimum of 5-10% of purchase price.
No PMI payments. Private Mortgage Insurance is not required on VA loans. PMI is an added monthly expense required for loans where the borrower finances more than 80% of the home’s value.
Qualification guidelines are less stringent than Conventional Loans – making the process simpler
Ability to finance the VA funding fee (plus reduced funding fees with a down payment of at least 5 percent and exemption for veterans receiving VA compensation).
Closing costs are comparable with other financing types (and may be lower).
An assumable mortgage.
Right to prepay without penalty.