SERVICES
Personal & Business Loans
We offer both secured and unsecured personal and business loans in which the borrower pledges some asset (e.g. a car or property) as collateral and if you do not have any asset as collateral, we are still able to help. The interest rate applicable to these different forms may vary depending on the borrower. Interest rates on unsecured loans are nearly always higher than for secured loans, because an unsecured lender's options for recourse against the borrower in the event of default are severely limited.
Fixed Rate Mortgage
Universal Mortgage & Finance, Inc. offers a variety of fixed rate programs, including traditional conforming loans, FHA loans, VA loans and jumbo programs. A traditional fixed rate mortgage provides you with the security of a steady payment for the life of your loan and is a great option for many borrowers. While most loan seekers looking for a fixed rate choose a 30 year fixed mortgage, we also offer shorter terms that can be a great option for borrowers that can afford a higher monthly payment and wish to pay off their loan in 20, 15 or even 10 years.
Construction, Bridge & Renovation Lending
We offer a variety of construction lending solutions including financing for your new construction project, financing for the rehabilitation of your existing residence and financing for the purchase and renovation of a home you want to improve and move into. Please click on the link above if you’d like to learn more about our construction lending program.
Adjustable Rate Mortgages
An adjustable-rate mortgage (ARM) usually offers a low initial interest rate that can increase after a pre-set period. We offer ARM loans with initial fixed periods of three, five, seven and ten years. These programs can be great for borrowers that are looking to stay in their property for less than the fixed period (three to ten years) or for experienced homeowners that understand the risks and benefits of an adjustable rate mortgage. Our loan officers can give you the information you need to make an informed decision about choosing a fixed or adjustable rate mortgage.
Refinancing Options
If you love your home but not your loan, we can help you. Our mortgage specialists have options that can help you lower your rate and/or your payment and in some cases allow you to take equity out of your home for debt consolidation, expenses, etc. Give us a call to discuss your options for refinancing your existing mortgage.