Ankeny, IA Mortgage Loans
Mortgage Loan Company in Ankeny IA
While buying a home in Iowa can be an exciting time, it can also be a process that is different for every family. Since everyone’s situation is unique, Compass Mortgage works with you to determine which pathway to homeownership is right for you, something not all Ankeny mortgage lending companies are interested in.
There is a lot to know when it comes to a mortgage loan. There are different loans for different situations, and our financing experts would love to talk to you about the perfect fit for you. In fact, it is important to know who you are dealing with when applying for one of the most important loans of your life.
With so many choices, Compass Mortgage wants you to know we are here for all of your mortgage loan needs. Whether you are buying your first home, looking to go larger or smaller, or want to refinance, we can secure a mortgage loan for you in Ankeny, IA.
Your First Home Loan
Being a first-time homeowner is exciting, but it comes with rules and requirements, many of which might be unfamiliar to you. Our experienced mortgage lenders in Ankeny will explain it all to you. Everything from credit scores, to financing options, and everything in between. We show you the entire loan process, right down to your closing date and beyond. We know how important being a homeowner is compared to simply renting.
Upgrading/Downsizing
Perhaps you are looking for a larger home or need to downsize after all these years. Our mortgage loan experts will show you where your finances can take you next, and why it is important to upgrade or downsize. Lifestyle changes are a part of life, and a low interest mortgage loan will help get you there.
Refinancing Options in Ankeny IA
Without moving out of the home you are in currently you can still take advantage of lower mortgage loan rates by refinancing. This gives you the ability to enjoy some of your home’s equity, switch out an adjustable rate mortgage for a fixed-rate loan, and lower your monthly mortgage payment. We share with you all the advantages that a refinance can mean in your life.
Our Mortgage Process
If you are unfamiliar with the mortgage process, let our Ankeny mortgage company team introduce you to how it all plays out. It used to take weeks or even months to receive approvals, inspections, appraisals, and have the documents all sorted out. Not so anymore.
Today, most of the mortgage process has moved online, right down to your signatures. Before you know it, you are looking at a closing date which will get you into your home in record time. It is a short trip to:
- Pre-approval
- Finding a home
- Getting the inspection and appraisal
- Communicating with your lender for all the applications and documents
- Getting your documentation approved by the lender
- Receiving a clear-to-close loan approval
- Securing a closing date
Our Mortgage Loan Options in Ankeny, Iowa
Conventional Loans: A conventional loan is our most popular loan and works well for those with a steady income and good credit. You can take advantage of low interest rates and select from a 15-year, or 30-year fixed-rate loan. Your monthly payment will always stay the same, so you know exactly what to budget for.
FHA Loans: An FHA loan is backed by the Federal Housing Administration, and you can purchase a home with a low down payment. Even if your credit is not great, an FHA loan is sure to get you the home of your dreams. FHA loans are great for anyone, including those looking to refinance.
VA Loans: We are grateful for all our veterans and those currently serving in the armed forces. With a VA loan, you can buy a home with no money down and at great interest rates. Because there are certain stipulations to meet, our Ankeny mortgage lenders help you through the loan process.
ARMs: Adjustable-rate mortgages are another great alternative. Your interest rate will remain fixed for a certain period of time, say 5 or 7 years, then your lender will adjust that rate based on current market trends. This type of mortgage loan offers you low interest rates and low monthly mortgage payments.
Ankeny, IA Mortgage Financing You Can Trust
Even if you are familiar with mortgages, there is always something new to learn when it comes to mortgage financing. Let our Ankeny mortgage lending company work for you. It is our goal to see all our clients find their way to homeownership. Contact Compass Mortgage today to find out how we can find you the path that leads to your dream home.