At Loanwize.com and Schaffer Mortgage Corporation, our mission is to set a high standard in the mortgage industry. We are committed to quality, personal customer service, we always put the people we serve first. We adhere to the highest degree of integrity in all of our business dealings. We are a small, family based company who treats each and every one of our clients like a person, not a number.

At Loanwize.com, you can always count on:

Fast Approvals
We use our top of the line technology to cut down on processing time and can often give you a pre-approval within hours.

Free Pre-Qualifications and Consultations
Let us help you find the perfect program for you! We have a variety of programs that are designed to help you, no matter what your situation is!

 

Which loan is right for you? Below is a general "Rule of Thumb" to use when deciding which Loanwize.com loan program is best for you, and a description of common loans available to today's borrowers. Years you plan to stay in the house Recommended program 1-3 3/1 ARM, 1 year ARM or 6 month ARM 3-5 5/1 ARM 5-7 7/1 ARM 7-10 10/1 ARM, 30 yr fixed or 15 yr fixed 10+ 30 year fixed or 15 year fixed Loan Programs Advantages Disadvantages 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     Apply now! Adjustable Rate Mortgages · Lower initial monthly payment · Lower payment over a shorter period of time · Rates and payments may go down if rates improve · May qualify for higher loan amounts · More risk · Payments may change over time · Potential for high payments if rates go up     Apply now! Balloon Mortgages · Lower initial monthly payment · Lower payment over a shorter period of time · Many balloon mortgages offer the option to convert to a new loan after the initial term. · Risk of rates being higher at the end of the initial fixed period · Risk of foreclosure if you cannot make balloon payment or if you cannot refinance or if you cannot exercise the conversion option     Apply now! First Time Buyer Programs · Lower down payment · Easier to qualify · Sometimes you may get lower rate · May be subject to income and property value limitations · Some programs which have government subsidies may have a recapture tax if you sell the house too early.     Apply now! Stated Income Programs · Don't need to verify income · Faster approval · Higher rates · Higher down payment     Apply now! No point, No fee Programs · No closing costs · Less money required to close · Higher rates · Higher payments     Apply now! Imperfect Credit Programs · Potential for reestablishing credit if you pay your mortgage on time. · When used for debt consolidation, you may be able to reduce your monthly debt payment · Higher rates · Terms may not be as favorable · Harder to get long term fixed loans · Loans may have prepayment penalties     Apply now! 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 · Rates can change. The maximum interest rate is normally high. · Payments can change · Harder to refinance your first mortgage     Apply now! Home Equity Fixed Loan · Fixed payments · Interest may be tax deductible · Higher interest rates than on 1st mortgages · Harder to refinance your first mortgage     Apply now! Besides our standard loan programs, we also have a large number of unique programs to serve your needs: · Purchase a house with 0 down · Piggyback loans 80-10-10 or 80-15-5. No PMI payments even with 5% or 10% down. · Debt consolidation programs · Home Improvement loans · Qualify even if you may have been turned down before!

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Loanwize.com | 3307 Northlake Blvd #103 | Palm Beach Gardens, Fl 33403
Tel: 561.799.9954 Fax:561.799.9787