Have you any questions about our mortgage company or buy your home?
Choosing "Opulence Lending Group" means partnering with a team that values your goals and works tirelessly to meet your financial needs. We focus on delivering exceptional service, ensuring that every step of the journey is clear, straightforward, and personalized just for you
A mortgage is a loan you use to purchase a property. The lender provides the funds, and in return, your home serves as collateral until the loan is fully paid.
Generally, you will need a solid credit score, stable income, and a down payment. However, each type of mortgage has specific requirements.
The down payment varies depending on the type of loan, but it can be as low as 3% for certain programs or up to 20% in other cases.
A primary property is your main residence, while a secondary property is any additional property you purchase, such as a vacation home or a rental property.
Refinancing might be a good option if interest rates have dropped, if you want to reduce your monthly payments, or if you need to consolidate debt. Contact us for a free evaluation.
It is a loan that allows you to access the equity you have built in your property for projects, debt consolidation, or other major expenses.
You will need sufficient equity in your property, a good credit score, and a stable financial history.
A fixed interest rate remains the same throughout the life of the loan, while a variable rate may change based on market conditions.
The mortgage term is the number of years you have to repay the loan. Longer terms have lower monthly payments but accumulate more interest over time.
Yes, you can pay off your mortgage early, but it’s important to review your loan agreement first. Some lenders charge prepayment penalties, while others offer flexibility. Paying off your mortgage early can save you on interest but may require careful financial planning.
A mortgage pre-approval gives you a clear understanding of how much you can afford, strengthens your offer to sellers, and speeds up the closing process. It’s a crucial step to gain confidence and competitive advantage when purchasing a home.
Your monthly mortgage payment typically consists of principal, interest, taxes, and insurance (often called PITI). Understanding this breakdown helps you plan your budget and anticipate any changes in property taxes or insurance premiums.
If you’re unable to make a mortgage payment, contact your lender immediately. Many lenders offer options such as forbearance, repayment plans, or loan modifications to help you through financial difficulties and avoid foreclosure.
Choosing between a fixed-rate and an adjustable-rate mortgage depends on your financial goals and timeline. Fixed-rate loans offer stability, while adjustable-rate loans often start with lower initial rates but may increase over time. Consider how long you plan to stay in the home and the current market conditions.
A team of industry pros to guide you each step of the way
Most people find that mortgage financing is complicated and confusing. We help you buy your dream home by simplifying the mortgage financing process with personalized loan options that save you time and money.
