HFC Mortgage Services
HFC Mortgage ServicesIf you are interested in buying a new home or refinancing your home, HFC Mortgage Services might be a good choice for you. They have over 500 branches in 39 states, so there is probably an office near you. Regardless of whether or not you decide to use HFC Mortgage Services, there are a lot of useful tools on their website, as well as information on the whole mortgage and refinancing process. If you are just getting started in the process, you can check out the HFC Mortgage Services calculators to see how much you can afford to borrow, whether or not you are better buying or renting, how much of a down payment you should have, a loan comparison calculator, a fixed vs. adjustable rate calculator, and a calculator to show you how much you can save with extra payments. If you are interested in refinancing, HFC Mortgage Services has a calculator to help you compare your current mortgage to your new loan to see if the new loan is more advantageous. You can also use the HFC Mortgage Services calculator to calculate mortgage payments to see how much your new payments would be. Although HFC Mortgage Services sells adjustable rate mortgages, they do not seem to be pushing these on their website. Their fixed vs. adjustable rates calculators can show you what is likely to happen with your loan should the rates stay the same, go up, or go down so you can get an idea of the range in possible payments to be sure you can afford them should you get an adjustable rate mortgage. Whenever they have a section on sensible choices, the options are all fixed rate mortgages. In this regard HFC Mortgage Services seems to be behaving responsibly in educating people about the possible risks and benefits of adjustable rate mortgages. For those who decide to get their loan from HFC Mortgage Services, HFC Mortgage Services offers a program they call Pay Right Rewards. If you get your loan from HFC Mortgage Services and sign up for their Pay Right Rewards program you will get a reduction in your interest rate for every 12 consecutive on time payments until your rate reduction reaches two or four percent, depending on the Pay Right Rewards program you choose. Once your interest rate is lowered, it isn't raised again even if you miss a payment. HFC Mortgage Services also offers debt consolidation loans and home equity loans for those interested in these types of loans. They offer both home equity loans and revolving lines of credit for home equity loan options. The interest rates on a home equity loan (also known as a second mortgage) from HFC Mortgage Services might be less that that you can get on other loans, and you can use this type of loan to consolidate your debts. However, before doing this make sure you can afford any payments since if you miss payments on this type of loan you could lose your house. |