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Home Loans Made Easy
3 EASY STEPS TOWARD A MORTGAGE OR REFINANCE LOAN
At InterContinental Capital Group, Inc., we make home mortgages as simple as possible. Our mission is to provide a streamlined and straightforward mortgage process. When applying for a mortgage or refinance loan, there are 3 steps to remember. We call this the 3 C’s: Credit, Capacity and Collateral.
Credit
Capacity
Collateral
Credit
Your credit score is the first item we’ll assess when determining your eligibility for a loan. This helps us understand how you manage debt.
Capacity
Capacity means your ability to make your monthly loan payments. We look at a few key factors when calculating this aspect.
Collateral
Collateral is essentially the value of what you’re financing in comparison to the amount of the loan.
What People Are Saying
"Intercontinental is the only company I would use for refinancing in the future, Darren is a wonderful professional."
"This is the happiest day of our lives. Â Darren made our dream of home ownership a reality and today we have come full circle. Â We have the most awesome real estate dream together. Â When most banks kept us waiting and struggling, Intercontinental Capital Group, Inc. made it a smooth and obtainable goal. Â Fast, quick, easy and painless."
"Darren at Intercontinental Capital Group made finding a loan for our new house a pleasurable experience and we can’t say enough great things about this company."
"Intercontinental is the only company I would use for refinancing in the future, Darren is a wonderful professional."
FHA vs. Conventional Loans
Frequently Asked Questions
FHA Loans have several advantages over conventional loans, including lower down payments and more relaxed credit-qualifying guidelines. The federal government created FHA programs to encourage home ownership throughout the country. FHA can help you obtain a loan with little or no down payment. FHA does not supply the loan; it simply insures the loan to limit the risk to the lender.
What are the Benefits of an FHA?
The FHA loan guidelines are more relaxed than conventional loan guidelines; this includes less strict regulations about past bankruptcies and/or foreclosures, job requirements, use of alternative credit, and debt-to-income ratios. The FHA ensures that their interest rates remain competitive with the interest rates of conventional loans.
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FHA loans were originally created to help first-time buyers; people who are not first-time buyers may qualify, however the FHA does not always allow anyone to have more than one FHA-insured loan at a time.
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The borrower is required to pay an insurance premium up front, but this premium back be financed into the loan amount directly. The borrower must also pay a small monthly premium for loan terms over 15 years. Unlike a conventional loan, the FHA requires a termite report and clearance, as well as a few other property condition standards to qualify for a loan.
FHA Refinancing
The borrower is required to pay an insurance premium upfront, but this premium can be financed into the loan amount directly. The borrower must also pay a small monthly premium for loan terms over 15 years. Unlike a conventional loan, the FHA requires a termite report and clearance, as well as a few other property condition standards to qualify for a loan.