Mortgage Lending
Whether you are looking to move-in, move-up or fix-it-up Prospectors has a wide variety of low rate choices to fit your needs and budget. We are committed to providing you affordable and convenient home loan options.
Fixed 1st Trust deeds
Prospectors offers 1st and 2nd Trust Deeds, refinancing, cash out refinancing, and home equity solutions with a comprehensive choice of rates, terms and features. This allows you every opportunity to select the right loan for your needs. In addition to offering competitive rates, you will pay only minimal processing fees. This will save you money right from the beginning of your home loan process. To save even more and repay your mortgage faster, set-up your loan on a bi-weekly payment schedule. This service is offered free and may save you thousands of dollars in interest over the life of the loan. You can save time and money by setting your account up on auto-pay from a Prospectors checking account, or from another financial institution.
Adjustable Rate Mortgages (ARM’s)
We also offer 3/1, 5/1 & 7/1 fixed/adjustable rate mortgages (ARM’s). This type of loan may be a good choice if you need a lower starting payment, know your income will increase in the coming years or plan to own your home for seven years or less.
Wondering about buying a home?
Go ahead and take advantage of us! We have in house professionals and programs that are designed to help you save money from the day you start until the day you move in. If you are wondering if you have the means to buy a home, ask about our ‘Prospectors Home Buyer Club’, we will help you save, get you pre-approved, and provide access to a team of seasoned realtors that will help you identify the right area for your needs and budget then help you secure the best price for your purchase. Some of our most popular products and services include:
- “Within Reach”* – Down payment assistance up to 5% of the 1st TD loan amount
- DPA Grants* – feature 0% interest and can be forgiven after 3 years
- FHA, USDA, & VA loan programs
- ‘Seller Credits’* up to 6%
- Gift funds allowed
* Subject to availability based on market conditions, please inquire for more information.
Retire Your Mortgage
Admit it, whether you’re 35 or 65, the prospect of retiring without a mortgage is an attractive one. No more monthly checks to your lender means extra money to spend on having fun once you exit the workforce. After years of punctual principal-and-interest payments, it’s the least you deserve, right? Check out our RETIRE YOUR MORTGAGE! We will even help you with 2nd Homes and Rental Property.
Over the past couple of years we have seen moderate increases, but mortgage rates have recently come back to near historic lows again. If our RETIRE YOUR MORTGAGE rates are lower than you are currently paying then why not let us show you how to pay off your mortgage before you retire. Other lenders typically will not loan on less than $125,000 and if, in that rare instance, they will not offer you their best rates. Taking advantage of our “Retire Your Mortgage” program is simple. Set up a time frame that will help you retire your mortgage about the same time as you retire from the workforce, and refinance the remaining balance which might be too low for other lenders to consider. Prospectors mortgage lending has it all!
