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Our Pre-Qualification Program |
Fixed Rate loans |
Adjustable Rate Loans |
Jumbo Loans |
FHA Loans (Federal Housing Administration) |
VA Loans (Veterans Administration) |
Purchase Loans |
Refinance Loans |
Reverse Mortgages |
Debt Consolidation Loans |
Self-Employment Loans |
Second Mortgages |
Home Equity Lines of Credit |
Interest-Only Loans |
100% Financing Available |
Assistance for Low Credit Scores |
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Our Pre-Qualification Program
FOR PLANNING -- A great bargaining tool for any prospective homebuyer. Add power to your purchase offer by proving that you have been pre-qualified for mortgage financing. We will provide a pre-qualification service for you at no cost.
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Fixed Rate loans
FOR STABILITY -- Your interest rate and principal & interest payment will remain constant over the life of your loan.
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Adjustable Rate Loans
FOR FLEXIBILITY -- Adjustable Rate loans offer a lower initial interest rate, so your initial monthly payments are less.
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Jumbo Loans
FOR LUXURY HOMES -- Jumbo mortgages allow you to borrow more instead of liquidating your portfolio to purchase the home of your dreams.
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FHA Loans (Federal Housing Administration)
FOR ADDITIONAL OPTIONS -- Loans guaranteed by the FHA allow for a down payment of just 3.50%, and funds for that down payment can be from a gift instead of the borrower's own funds. Cash-out refinances are also available when using an FHA loan. Depending on your situation, an FHA loan may be more cost effective than a conventional loan with private mortgage insurance.
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VA Loans (Veterans Administration)
FOR THOSE WHO HAVE SERVED: A home loan guaranteed by the Veterans Administration allows for 100% financing, with no monthly mortgage insurance payment. MDI Mortgage is especially pleased to be able to offer this type of financing for veterans, reservists, and military.
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Purchase Loans
FOR HOME BUYING -- Whether you are purchasing a primary residence, a second home, or a 1-4 unit investment property, MDI Mortgage wants to help you navigate the process of obtaining financing for your dream.
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Refinance Loans
FOR STRATEGIC FINANCING -- Do you need to reduce your interest rate? Lengthen or shorten your repayment term? Change an adjustable rate loan into a fixed rate? MDI Mortgage is dedicated to helping you save money through strategic refinancing.
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Reverse Mortgages
FOR A LIFESTYLE -- A reverse mortgage can help homeowners who are 62 and older stay in their home without having to make payments, and often, they can receive a monthly payment made to THEM from their mortgage. A reverse mortgage is not for everyone, so please contact us for details and we can review your situation with you and see if it makes sense or if a different type of loan might be a better match.
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Debt Consolidation Loans
FOR INCREASED CASH FLOW -- Use the equity in your home to help make life easier by paying off creditors and consolidating your debt into one low monthly payment.
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Self-Employment Loans
FOR EXPEDIENCY -- MDI Mortgage has specific programs that will help you be approved, quickly and hassle-free.
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Second Mortgages
FOR PREFERENCE -- A second mortgage can give you access to low cost funds with the added benefit of a fixed rate and amortized repayment period.
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Home Equity Lines of Credit
FOR MORE CHOICES -- A line of credit to use as you see fit; complete that home improvement project you've been putting off, buy that piece of land you've had your eye on, payoff high-interest debt; have access to reserves for the unexpected and unplanned. It's all within reach with a home equity line of credit.
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Interest-Only Loans
FOR MANAGEABLE MONTHLY PAYMENTS -- Interest Only loans are a tool designed for those who may not currently have the budget to make a full payment of principal & interest, but will in a few years. Whether you have a large debt that will soon be paid in full, or you are anticipating a significant future increase of income, this program will lower your short-term payment making it more affordable. The interest only payment is in place for a set period of time, and then it converts to a fully amortized loan payment for the remainder of the term.
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100% Financing Available
FOR MODEST BUDGETS -- 100% financing increases home ownership possibilities by reducing the necessary down payment and costs.
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Assistance for Low Credit Scores
FOR A HELPING HAND -- You have a dream of homeownership, and you know that you can afford a home of your own, but your credit score from the past is making loan approval a real challenge. MDI Mortgage will be happy to assist you in reviewing your credit history and looking for ways and opportunities to get it improved.
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