AAXA Discount Mortgage Offers Bridge Loan Programs for Current Homeowners
Wilmington, NC (PRWEB) November 7, 2007
The recent slowdown in the housing market has caused a surplus of homes to be listed for sale in many parts of the country. Many homeowners have been forced to remain in their properties despite the potential need to relocate for employment or other obligations. AAXA Discount Mortgage, a mortgage brokerage firm, is now offering several bridge loan programs for those who need temporary financing assistance.
AAXA’s lenders have two of the most competitive bridge loan programs on the market. The first program can be used to refinance any existing mortgages on the for-sale property, to pay for title expenses and any loan fees, and to cover up to nine months of mortgage interest in advance. Any remaining proceeds can be used for the purchase of a new property.
A second bridge loan product allows for creative financing. This loan is essentially a home equity line of credit of up to 95 percent of the approved line amount for primary residences (80 percent for second homes). This program has no PMI (private mortgage insurance) and its interest only payments keep payments low while the other property is on the market. This HELOC bridge loan has less than $ 20 in lender closing costs.
For more information on AAXA Discount Mortgage and its bridge loan mortgage offerings, visit http://www.forthebestrate.com.
About AAXA Discount Mortgage
AAXA Discount Mortgage has been offering its clients some of the best mortgage rates and lowest closing costs in the Nation since 2000. AAXA conducts business in 26 states and is headquartered in Wilmington, NC. The company also has full service offices in Arizona, South Carolina and Texas. AAXA uses state-of-the-art technology to simplify the lending process and drive down the costs of home financing. The company works with some of the country’s largest and most progressive wholesale lending institutions to ensure that its customers have access to some of the most competitive pricing and programs in the marketplace. Product offerings include traditional conventional financing such as 30 year mortgages and 15 year home loans, as well as interest only loans, adjustable rate mortgages, jumbo loans, lot loans and second mortgages.
Contact:
Nathaniel Criss
AAXA Discount Mortgage, Inc
http://www.forthebestrate.com
1-877-RATE-LOW
910-796-7122
Wilmington, NC 28403
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