Pre-Qualify
This is probably the most important first step you can take. By pre-qualifying for a loan, youll understand just how much home you can afford. This allows you to focus on homes that are within your budget.
Financing Options
Conventional and Jumbo Mortgages
Fixed 10, 15, 20, 25, 30-year amortization
With this conventional type of mortgage, you get the predictability of a uniform payment and interest rate that is set for the life of the loan. Choosing a longer-term fixed-rate mortgage helps to keep monthly payments affordable and are well suited for those who plan to remain at the same home for a long time or where a predictable payment is important to stay within a set budget. Shorter-term fixed-rate mortgages are available that provide you many of the same benefits as the longer-term loans, but also allow you to accelerate the repayment of your mortgage.
Adjustable Rate Mortgages
1/1, 3/1, 5/1 and 7/1 ARMs
These are 30-year mortgages where the interest rate and monthly payments are fixed for an initial 1, 3, 5 or 7-year period. Beginning with the year after the initial period, the interest rate and corresponding payment is adjusted annually. This gives you the opportunity to make smaller payments now, with an increase in payments later as your income also increases.
Financing Partners
Slovenian Savings & Loan
Gerry F. Pozun
585 Goucher Street
Johnstown, PA 15905
814-255-4130 phone
814-255-4049 fax
www.sloveniansavings.com
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Mainline National Bank
Andrew Snare Mortgage Originator
325 Industrial Park Rd. P.O. Box 660
Ebensburgh, Pa. 15931
814-472-5400 (EXT 133) phone
814-472-7684 Fax
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First National Bank
Elaine Frampton
Elaine Frampton
Westmont Office
1900 Minno Dr. Suite 1
Johnstown, PA 15905
814-255-6811 voice
814-255-2252 fax
FramptonE@fnb-corp.com |
