Gena Schaublin Sr. Mortgage Professional
Arizona Homeowner January | February 2011
NMLS #181884
Gena has built her business one relationship at a time and loves working with her borrowers and Realtors. She has over a decade of experience in the financial industry as well as an undergraduate degree in Communications and an MBA in Business Management and Marketing. This strong background of education and experience makes Gena a well-rounded candidate to serve the First-Time Homebuyer, a family growing their portfolio for the future or the avid investor. “Not only is Gena extremely knowledgeable, but she is able to break her knowledge down into “lay mans” terms. During our first meeting, she stayed and explained everything to me until I understood everything that I needed to know. High Integrity: She consistently made sure that my questions were answered. She also was there for me at any time that I needed her. She never “left me hanging” or made me feel like I was unimportant. Being a first time home buyer I was extremely nervous about the whole process. Gena was there for me through the whole thing and I enjoyed working with her. If she felt that someone was giving me bad information, she followed up with them. She was even there with me at my closing. I will always be indebted to Gena. From now on, I will only do business with Gena!”
CHOOSING THE RIGHT LOAN PROGRAM FOR YOU PROGRAM
ADVANTAGES
FIXED RATE MORTGAGES • 30 year fixed • 15 year fixed
• Monthly payments are fixed over the life of the loan • Interest rate does not change • Protected if rates go up • Can refinance if rates go down
• Higher interest rate • Higher mortgage payments • Rate does not drop if interest rates improve
ADJUSTABLE RATE MORTGAGES (ARM) • 10/1 ARM • 7/1 ARM • 5/1 ARM • 3/1 ARM • 1 year ARM
• Lower initial monthly payment • Rates and payments may go down if rates improve • May qualify for higher loan amounts • 30 year term, no balloon payment
• More risk • Payments may change over time • Potential for higher payments if rates increase
FIRST TIME BUYER PROGRAMS
• Lower down payment • Easier to qualify • Lower rates may be available
• May be subject to income and property value limitations • Some government subsidized programs may generate a recapture tax if you sell the house too soon • Education courses may be required to qualify for these loans
NO POINT, NO FEE PROGRAMS
• No out-of-pocket loan costs at closing • Closing costs are paid from the lender rebate • Less money required to close • Refinance without increasing your loan amount
• Higher rates • Higher payments • Some lenders may have a short payoff penalty which is usually charged to the loan broker, but may be passed on to you • Some require a prepayment penalty for the first one to five years
HOME EQUITY LINE OF CREDIT
• You only borrow what you need • Pay interest only on what you borrow • Flexible access to funds • Interest may be tax deductible • May be free of closing costs • A good source for an emergency fund, if set up in advance • Can be used for debt consolidation and lower payments • Rates are usually lower than consumer loan or credit card rates
• Rates can change. The maximum interest rate can be relatively high • Payments can change • Harder to refinance your first mortgage
• Fixed payments • Interest may be tax deductible • Get cash out for any purpose
• Higher interest rates compared to first mortgage • Harder to refinance your first mortgage • Interest is paid on the entire loan amount, compared to an equity line of credit
JESSICA N. | MORTGAGE CLIENT
GET PRE-APPROVED TODAY:
www.HomeownersFG.com/GenaSchaublin
Direct: 602.317.7610
Gena@HomeownersFG.com Homeowners Financial Group BK #0906222
16427 N. Scottsdale Rd. #280 • Scottsdale, AZ 85254
RISKS
HOME EQUITY FIXED LOAN
Rates, fees and loan programs are subject to change without notice.
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