What is today’s Mortgage Rate September 26 2017 United Mortgage Plus Call 866 836 2188

At United Mortgage Plus we offer an extensive range of loan services to help assist you in what can be a very confusing process. We are focused on providing you with excellent service throughout your home refinancing or buying process, and our team of experts brings a wealth of experience and knowledge to cover the various stages in the loan process.
Established in 2013.
Some of the Mortgage Loan Programs we Offer are:
Conventional 30 Yr. Fixed
Conventional 5 Yr. ARM
Jumbo 30 Yr. Fixed
Jumbo 5 Yr. ARM
FHA 30 Yr. Fixed
FHA Jumbo
VA 30 Yr. Fixed
VA 5 Yr. ARM
VA Jumbo
USDA 30 Yr. Fixed
And many more…

We also have daily mortgage rates, updated every day on our website.

The Most common question we get is what are the different types of mortgage loans.
What is a conventional loan?
A conventional Mortgage loan is the most widely known mortgage loan. The most popular of which is the size of the loan which is generally limited to $424,100. Other guidelines include the borrowers loan-to-value ratio (LTV), the debt-to-income ratio (DTI) credit score, credit history, documentation requirements and others. Conventional loans are not guaranteed or insured by any government agency and is typically fixed in terms of the terms and rate. About half of all conventional loans are called conforming mortgages because they conform to the guidelines set by Fannie Mae and Freddie Mac. The rest are known as non-conforming mortgage loans and include loan types such as Jumbo Loans and Sub-prime Loans, which are marketed to borrowers with low credit scores. They typically come with higher interest rates and fees.

What is an FHA Mortgage Loan?
Less strict mortgage lending standards and lower down payment requirements make FHA Loans popular with many mortgage borrowers. These FHA Mortgage Loans are insured by the Federal Housing Administration. Unlike a conventional mortgage loan, the borrowers pay the mortgage insurance which protects the lender should the borrower default. Because of the mortgage insurance, the mortgage rates on FHA loans tend to be more attractive. FHA Mortgage loans also have more flexible qualifications than conventional loans.
What is a VA Mortgage Loan?
A VA loan, or Veteran Affairs Mortgage Loan, is a mortgage loan that is guaranteed by the US Department of Veterans Affairs. Because they are guaranteed, they do not require mortgage insurance. The VA Loan was designed to offer long-term financing to American Veterans or their surviving spouses. Generally VA mortgage loans do not require a down payment and can allow up to 103.3% financing, with the extra 3.3% being a funding fee that is paid directly to the VA. VA Mortgage Loan limits usually vary by county with those being in higher-cost areas having a larger limit.

What is a Jumbo Loan?
A jumbo mortgage loan is a home loan that exceeds the conforming loan limits that have been established by regulations. For a majority of the United States the limit is $417,000 and in higher cost areas is typically $625,000. The process for a jumbo mortgage loan compared to a conforming mortgage loan is very similar though sometimes require 2 appraisals instead of one. Jumbo mortgage loans generally require higher down payments, and a FICO credit score of 700 or higher.
What is an Adjustable Rate Mortgage?
An adjustable rate mortgage or, ARM, is a mortgage loan with an interest that periodically adjusts to the market. Adjustable rate mortgages transfer part of interest rate risk from the lender to the borrower. They are often used when unpredictable interest rates make fixed rate loans hard to obtain. The borrower benefits if the interest rate falls, but loses if the interest rate increases. Some important features of ARMs are:
• The initial interest rate is the beginning interest rate
• The adjustment period, which is the length of time that the interest rate is scheduled to remain the same.
• Interest rate caps are limits on how much the interest rate can be changed at the end of the adjustment period over the life of the loan.
• Some ARM agreements may have a clause that allows the buyer to convert their Adjustable Rate Mortgage into a fixed-rate mortgage at designated times.
• Some ARMs require the buyer to pay a penalty if the loan is paid off early.
For more information, please visit email us at info@unitedmortgageplus.com, or call us at 866-836-2188

Implement for an SBA mortgage by August 14

Flood survivors who utilized for Federal Unexpected emergency Administration Company (FEMA) help and were contacted by the U.S. Modest Business enterprise Administration (SBA) have a lot of excellent factors to post a mortgage software ahead of the deadline of Aug. 14, explained Missouri Point out Unexpected emergency Administration Company (SEMA) officers.

SBA presents lower-desire catastrophe loans to home owners, renters, corporations of all measurements and private nonprofit organizations for actual physical hurt brought about by critical storms, tornadoes, straight-line winds and flooding concerning April 28 and May perhaps 11 in 35 counties which includes Howell and its contiguous neighbors.

Some of the critical factors specified by SEMA officers to post an SBA lower-desire catastrophe mortgage software include:

– SBA can help corporations of all measurements, private nonprofit organizations, home owners and renters fund repairs or rebuilding efforts and cover the cost of changing dropped or catastrophe-damaged individual residence. Renters, as very well as home owners, may possibly be qualified to borrow up to $40,000 to mend or substitute outfits, home furniture, appliances and damaged automobiles.

– A long run insurance policies settlement may possibly tumble quick. Survivors may possibly come across out that they are underinsured for the sum of work it requires to mend or substitute their damaged home. An SBA lower-desire catastrophe mortgage can cover the uninsured expenditures. By publishing the software, they may possibly have mortgage revenue obtainable when it is desired. SBA may possibly approve a mortgage for the mend or alternative of a home up to $200,000. The mortgage harmony may possibly be diminished by their insurance policies settlement. On the other hand, the prospect for an SBA mortgage may possibly be dropped if they hold out right until following the deadline expires on Aug. 14.

– Survivors are not necessary to take a mortgage even if they qualify for a person.

– If SBA determines the survivors aren’t qualified for a mortgage, SBA may possibly refer them back to FEMA. This could make them qualified for much more FEMA help.

If survivors require support completing their mortgage software, they need to get in touch with SBA at 800-659-2955 (TTY 800-877-8339) or send an email to DisasterCustomerService@sba.gov. Survivors are inspired to utilize on the net using SBA’s digital mortgage software at disasterloan.sba.gov/ela.

If the SBA mortgage software is accredited, survivors may possibly be qualified to borrow further funds to cover the cost of improvements that will protect their residence in opposition to long run hurt. Illustrations include elevating utilities, h2o heaters and furnaces and putting in retaining partitions and sump pumps. Applicants may possibly be qualified for an SBA mortgage enhance, for mitigation reasons, of up to 20 percent of their actual physical hurt.

If survivors haven’t utilized ahead of Aug. 14, they may possibly not be qualified to obtain all the support that may possibly be obtainable, not only from SBA but also from FEMA.

SBA also presents lower-desire working money loans, Economic Injury Catastrophe Loans, to smaller corporations and most private nonprofit organizations obtaining problem assembly obligations as a outcome of the catastrophe. The deadline to utilize for that mortgage is March 2, 2018.

Survivors are urged to utilize for FEMA’s catastrophe help ahead of Aug. 14. To do so, get in touch with the FEMA Helpline, 800-621-3362. People who use 711 or Video clip Relay Products and services may possibly get in touch with 800-621-3362. If 711 is unavailable use MO Relay 800-735-2966, CapTel 877-242-2823, Speech to Speech 877-735-7877 or VCO 800-735-0135. People who use TTY may possibly get in touch with FEMA directly at 800-462-7585. Multilingual registration help is obtainable. Operators will be obtainable from 6 a.m. to 10 p.m. 7 times a week right until additional discover.

Applicants may possibly also go on the net to register at DisasterAssistance.gov or use the FEMA app for smartphones.

SEMA and FEMA officers explained they are dedicated to making certain companies and help are obtainable for people with disabilities or others with entry and functional desires. When survivors register, they need to let FEMA staff know that they have a require or a fair lodging ask for.

The other 29 counties provided in the catastrophe-declared space are Bollinger, Butler, Carter, Christian, Crawford, Dent, Dunklin, Franklin, Gasconade, Greene, Iron, Jasper, Jefferson, Madison, Maries, McDonald, Newton, Osage, Pemiscot, Phelps, Pulaski, Reynolds, Ripley, Ste. Genevieve, St. Louis, Stone, Taney, Wayne and Wright.