Turn Your Dream Home
Into A Reality
Home Loans
With access to hundreds of loans from a wide variety of lenders, we will work with you to find the loan that suits your individual circumstances so you can make the most of your money.
Refinance
There are several reasons you may look to refinance your property. Has your income increased? Has the equity of your home increased? Find out today if refinancing your property makes sense for you.
New Construction
Building is your chance to have everything you want in a home, but the construction loan process can be complicated. Learn how the different types work and why you should choose us as your lender before breaking ground.
Mortgage Calculator
Crunch your own numbers with our mortgage calculator for refinance or home loan, and run as many different scenarios as you’d like. Or, contact us if you prefer expert advice from one of our licensed loan officers.
Mortgage Calculator
How it Works
About Harcourts Lending
Whatever property you’re saving for, a competitive loan will get you there faster
Harcourts lending is our customized financial service which will be tailored to your own personal situation and personal preferences depending on which property you are purchasing. No one piece of real estate is the same, no one buyer or the expectations are the same, so how can you not customize the lending experience. This fully customizable service is available to you and is just another option creating the Harcourts experience to be one of the truly finest in the industry.
With access to hundreds of loans from a wide variety of lenders, we will work with you to find the loan that suits your individual circumstances so you can make the most of your money.
Home Loans
We can provide the home loan solutions you need which will make a significant difference for your financial future.
Conventional Loans
Conventional loans are mortgages that are not insured or guaranteed by the federal government. They are typically fixed-rate mortgages. They are some of the most difficult types of mortgages to qualify for because of their stricter requirements—a bigger down payment, higher credit score, lower income-to-debt ratios, and the potential for a private mortgage insurance requirement. However, if you can qualify for a conventional mortgage, they are usually less costly than loans that are guaranteed by the federal government.
Federal Housing Administration (FHA) Loans
The Federal Housing Administration, part of the U.S. Department of Housing and Urban Development (HUD), provides various mortgage loan programs for Americans. An FHA loan has lower down payment requirements and is easier to qualify for than a conventional loan. FHA loans are excellent for first-time homebuyers because, in addition to lower upfront loan costs and less stringent credit requirements, you can make a down payment as low as 3.5%.
VA Loans
The U.S. Department of Veterans Affairs (VA) guarantees VA loans. The VA does not make loans itself, but guarantees mortgages made by qualified lenders. These guarantees allow veterans to obtain home loans with favorable terms (usually without a down payment). In most cases, VA loans are easier to qualify for than conventional loans. Lenders generally limit the maximum VA loan to conventional mortgage loan limits. Before applying for a loan, you’ll need to request your eligibility from the VA. If you are accepted, the VA will issue a certificate of eligibility you can use to apply for a loan.
Ready to Secure Financing? Apply Now!
New Construction
Customization at its finest
A construction loan is a short-term loan that covers only the costs of custom home building. Once the home is built, the prospective occupant must apply for a mortgage to pay for the completed home.
However, there are several other loans available when it comes to home building, from ground-up building to completely gutting a current home so you can renovate. So, whether you have a plot of land and need to start from scratch, have a teardown situation where the current home has no redeeming value in your eyes or want to keep the bones of the structure but change pretty much everything on the inside, there’s likely a loan out there that’s right for you.
Refinance
The first step in deciding whether you should refinance is to establish your goals. The most common reasons for refinancing a mortgage are to take cash out, get a lower payment or shorten your mortgage term.
Take Cash Out
Refinancing your mortgage is a great way to use the equity you have in your home. With a cash-out refinance, you refinance for a higher loan amount than what you owe and pocket the difference. Any proceeds you receive are tax-free.
Many homeowners use cash from their home to pay off high-interest credit card debt and student loan debt. You can also take cash out to finance home improvements, education or whatever you need. Since mortgage interest rates are typically lower than interest rates on other debts, a cash-out refinance can be a great way to consolidate or pay off debt. Additionally, mortgage interest is tax-deductible, but the interest on other debts usually isn’t.
You may be able to take cash from your home if you’ve been paying on the loan long enough to build equity. Additionally, you may be able to do a cash-out refinance if your property value has increased; a higher value on your home means your lender can give you more money to finance it.
Get a Lower Payment
A lower mortgage payment means more room in your budget for other things. There are a few ways you can lower your payment by refinancing.
First, you may be able to refinance with a lower rate. If rates now are lower than they were when you bought your home, it’s worth talking to your lender to see what your interest rate could be. Getting a lower rate means lowering the interest portion of your monthly payment – and big interest savings in the long run.
Second, you could refinance to get rid of mortgage insurance – a monthly fee you pay to protect your lender in the event that you default on the loan. Mortgage insurance is usually only required when you put down less than 20%. You could save hundreds of dollars a month by refinancing to stop paying monthly mortgage insurance.
Third, you can get a lower payment by changing your mortgage term. Lengthening your term stretches out your payments over more years, which makes each payment smaller.
There may be other ways you can get a lower payment, so it’s always worth checking with your lender to see how they can help you get a payment that fits your current budget.
Shorten Your Mortgage Term
Shortening your mortgage term is a great way to save money on interest. Often, shortening your term means you’ll receive a better interest rate. A better interest rate and fewer years of payments mean big interest savings in the long run.
So how does this work? Let’s look at an example. Say your loan amount is $200,000. If you got a 30-year loan with a 3.5% interest rate, you would pay approximately $123,000 in interest over the life of the loan. However, if you cut your term in half, you would pay about $57,000 in interest over the life of the loan. That’s a difference of $66,000 – and it doesn’t even account for the fact that the shorter term would provide you with a lower interest rate (and more savings).
An important thing to know about shortening your term is that it may increase your monthly mortgage payment. However, less of your payment will go toward interest, and more of it will go toward paying down your loan balance. This allows you to build equity and pay off your home faster.
Contact your Lending Team!
Cheryl Espinoza