Randy Gridley - Real Estate Boise | Meridian - Home Finacing Information

Finance Information

How much home can you afford? Use our finance center to learn about your loan options below. There are several loan programs available, and depending on your credit history, there is bound to be one that is perfect for you. Here are a few examples of the most popular programs offered today:

Loan Information

It is important to decide how much of a home loan you can afford. Use the information below to make your decision about your mortgage loan. There are many finance options available to you and considering your credit history, a suitable program is bound to be available. Here is some information about the most popular loan programs offered.

Adjustable Rate Loans

The adjustable rate mortgage loan, also called ARM loans, comes with fixed rates for a short introductory period and then adjustments are made later. If you are expecting the interest rates to decrease in the future, or you are trying to increase your buying power, knowing that your income will rise in future, this type of loan is perfect for you. It is suitable for buyers who are expecting to be living in the house for a shorter period of time.

Fixed Rate Loans

Unlike the adjustable rate loans, the interest rates on fixed rate mortgages will remain the same for the entire period of the loan. Generally the fixed rate mortgage loans are safer because they ensure fixed mortgage payments. However, they may not be the perfect option for all aspiring borrowers. The traditional fixed rate loans have some specific requirements and need a minimum debt-equity ratio in order to qualify. These loans are useful for the borrowers planning to stay in the home for a long time.

FHA and VA Loans

The FHA loans are an affordable option for the borrowers who do not qualify for the conventional mortgage loans. The loan is guaranteed by the Federal Government, but is provided to buyers by financial lenders. These loans are suitable for home buyers with a modest income or with an imperfect credit record and for those who cannot make a large down payment.

The VA loans are available for those who have served active duty in the US armed services. A portion of the VA loans is guaranteed by the US government, in case the borrower is unable to complete the loan terms. 100% financing is available with no down payment requirement.

Local Home Buying Programs

There are several other state or local level home buying programs available. Assistance is available for the required down payments. Please contact us for more information about this.


Contact Information

Randy & Doyelene Gridley
Silvercreek Realty Group
1099 S Wells St. Suite 200
Meridian ID 83642
Randy's Direct Office: 208-859-7060

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Contact Us

Our office is located at:
1099 S Wells St. Suite 200
Meridian, ID, 83642

(208) 859-7060
(208) 323-8081

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