Author: NexSpring Financial

Start With NexSpring

~ NexSpring Financial ~ Leave a comment

For many, the new year brings anticipation on what’s to come; the planning of change, the listing of goals, and how to better connect with your community. The team at NexSpring is doing the very same thing. How can we better serve our clients in 2019? How can we provide more than a home loan? We have a knowledgeable staff, an excellent set of tools and technology, and the capacity to do so much to help our clients.

When talking about this resolution, we discovered a common theme. By the time our customers get to us, they are already frustrated and stressed with the home buying process. Some have been confused by shopping for rates, some have gone to several people to help with their credit, some haven’t found the right realtor for their needs, and some have tossed and turned at night trying to figure out what they can afford. There are so many possible frustrations in the home buying process.  

When we began NexSpring, these are the exact things we wanted to help our customers to avoid. So our resolution for 2019 is to communicate that we don’t just want to provide a mortgage (although we LOVE doing that), we want our clients to “Start with NexSpring” when they begin home buying process! We can help you every step of the way.

Worried your credit will keep you from being a homeowner?

Start with NexSpring. We work with a variety of credit repair experts that give you the best advice on the steps you need to take to repair your credit and to live out your dream of becoming a homeowner.

Not sure what you can afford for your new home loan?

Start with NexSpring. We have experienced Mortgage Advisors on call who will help analyze your financial situation and start you on the path to success. The best thing is this can be done in person, in the comfort of your home, or wherever your life takes you. After a discussion about your financial situation, your Mortgage Advisor will get you pre-qualified so you know exactly what to tell your realtor you want to spend.

Speaking of Realtors, not sure who will be the best fit for you?

Start with NexSpring for that too! Our Mortgage Advisors have partnered with only the best Realtors to help guide you in purchasing your home. We will work with your Realtor to ensure a smooth transaction from start to finish.

Worried about who has the best rates?

You guessed it, Start with NexSpring. We shop rates and fees for you to find the best price. This is one of the ways our technology sets us apart from other lenders, and a unique feature of being a mortgage broker. You’ll receive a variety of rates from which to choose, and your Mortgage Advisor is right there to answer any questions as you decide what is best for you.

These are just some of the reasons why you should “Start with NexSpring” when buying a home.  We are truly the simplest approach to getting into your new home. Providing online home loans for customers in California, Colorado, Illinois, Florida, Michigan and Missouri (and more coming soon – check our website for states we are currently licensed in).

Is a Reverse Mortgage Right For You?

~ NexSpring Financial ~ Leave a comment

When thinking about financing options for your home, it is important to understand all the products available.  NexSpring Mortgage Consultants are a great source to go to in order to fully understand what mortgage products are out there for your current situation. A product that often comes up when NexSpring Mortgage Consultants are talking to clients 62+ is a Reverse Mortgage.   

A Reverse Mortgage is a loan for adults 62+ which is insured through the Federal Housing Administration (FHA), and allows homeowners to convert their home equity into cash with no monthly mortgage payments.  Homeowners are still responsible for real estate taxes and insurance.

Just because you are 62+ doesn’t mean a Reverse Mortgage is right for you.  Here are a few things to consider prior to making the decision to begin a Reverse Mortgage.

  1. Do you own your home outright, or do you have a low mortgage balance that can be paid off at closing with the money provided through the Reverse Mortgage?  Reverse mortgages are only available if all existing home loans are paid off in full.
  2. Do you plan on staying in your home long term?  If the answer is no, then a Reverse Mortgage may not be the best fit. You might consider selling your home instead.
  3. Is your home equipped for your needs as you age?  If not, a Reverse Mortgage might be an option as some borrowers choose to use their proceeds to make improvements to their home.

If after thinking through those questions you feel like a Reverse Mortgage may be right for you or a loved one, click here to be connected to a NexSpring Mortgage Consultant.

What is a USDA Home Loan, and is it right for you?

~ NexSpring Financial ~ Leave a comment

If you’re thinking about purchasing a home, it is important to know all your options when choosing a loan product.  NexSpring Mortgage Consultants spend time to fully understand your current situation, and help you choose what loan product option is right for you.  One option NexSpring Mortgage Consultants consider when talking to a client in a rural area is a USDA Home Loan.

A USDA Home Loan is for homes in Rural Areas as defined by the U.S. Department of Agriculture.  This program allows a borrower to obtain up to 100% financing based on the sales price or appraisal, whichever is higher. It also allows for reasonable closing costs and pre-paids to be financed onto the loan up to the appraised value. There is a low 1% up front guarantee fee financed onto the USDA home loan, along with a .35% monthly premium added to the monthly principal, interest, tax and homeowners insurance payment. USDA home loans also allow refinancing to borrowers already financed with a USDA loan.

The USDA Home Loan allows for more flexible underwriting and credit criteria than other home loan programs. This home loan does have house-hold income limitations as published by the USDA based on house-hold size and the State and County the property is located in.

If you think a USDA home loan might be right for your home purchase, click here.  If you qualify, you will be put in touch with a NexSpring Mortgage Consultant to learn more about next steps.