If you're looking for a mortgage with flexible loan terms and money-saving options, the Your Way Mortgage from ALCOVA is the perfect solution. This innovative mortgage product allows you to structure your loan based on your needs and financial situation.
With this loan, you can choose a loan term that works best for you. You have the flexibility to select a term between 8 and 29 years, allowing you to tailor your mortgage to your unique budget and goals. Depending on the loan term you choose, you may even save money in the long run by selecting a shorter term.
One of the key benefits of this cutting edge loan product is the fixed interest rate, which provides stability throughout the life of your loan. Unlike adjustable-rate mortgages, your interest rate won’t change, making it easier to manage your monthly payments. Additionally, you have the flexibility to adjust your down payment amount, which can help lower your initial costs.
Another advantage is the down payment flexibility. You can buy your primary home with as little as 3% down, which makes homeownership more accessible. Alternatively, you can opt for a 20% down payment or more to avoid mortgage insurance (PMI), reducing your overall monthly payment.
To qualify, you must meet a few basic requirements:
The Your Way Mortgage offers flexibility, stability, and potential savings. Whether you're buying your first home or refinancing, this mortgage allows you to customize your loan to fit your needs. With low down payment options, a fixed interest rate, and the possibility of avoiding PMI, it’s an excellent choice for homeowners who want both flexibility and savings.
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