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"They (Stratus Team) truly remove the headaches from what can be the most laborious aspect of buying a home."
- Brad and Christy Dixon, Realtors, HomesATX Realtors, Austin, Texas
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Loan Programs
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“As financial advisers, our clients trust us to help them navigate the many financial roads they will travel as their world expands. We have had the privilege of introducing Brian Pratt and Stratus Mortgage into that circle of trust as a cutting-edge resource to securing the right loan for that particular client. Their integrity and work ethic has won the many hearts of our clients who have utilized their services. We cant thank them enough.” Shaun McDuffee, North Star Financial, Austin, Texas
Traditional Fixed Rate Mortgages Perfect for home buyers who want the security of a traditional fixed rate mortgage. A fixed rate mortgage has an interest rate that will not change for the life of your loan. This loan is the best security against rising mortgage rates and higher payments. You can pay your loan down or off as well as refinance at any time without paying a pre-payment penalty. Fixed rate mortgages have terms from 10, 15, 20, 25 or 30 years. The shorter the term, the higher your monthly payment, but the less total interest you pay over the life of the loan.
Home Equity Loans Home equity loans allow you to borrow money against your home at a low rate of interest. Whether your goal is to consolidate debt or pay for college, income taxes or other expenses, a cash-out refinance is a great way to get cash out of your home when you need it. Typically, the interest you pay on a home equity loan is tax-deductible.
Construction Loans Construction loans typically are short-term loans used for the building or renovation of your home. The term of construction loans depends on the project and how much time it will take to complete. Monthly payments on construction loans usually are interest-only with variable rates tied to the prime rate or some short-term interest rate. Interest is charged on the outstanding balance, so the borrower should expect their monthly payments to increase as money is drawn for the project. The final balance of these loans are paid off using long-term mortgage loans such as fixed rate mortgages or adjustable rate mortgages.
Adjustable Rate Mortgages An adjustable rate mortgage (ARM) is a loan that has a fixed rate for a set period and then adjusts up or down according to its index rate and financial markets. There are six-month, one-year, three-year, five-year, seven-year and 10-year ARMs. Each of these has a locked initial rate based on the type of loan. For example, a five-year ARM has a fixed, locked rate for the first five years, and then the interest rate will adjust up or down based on the index rate for that loan. Adjustable rate mortgages can be a great loan, depending on current interest rates and how long the borrower plans to keep that property.
Second Liens A second lien is a loan where the lender is in second position behind the primary loan on a property. Second liens can be used to purchase or refinance a property as well as for home equity loans and home equity lines of credit.
Commercial Loans Whether you are interested in purchasing, building or refinancing commercial real estate or buying into a business partnership, Stratus Mortgage, LLC can help. We work with local, regional and large, wholesale banks to help you find the best financing options. Once we have an understanding of your investment goals and objective, we put together the best commercial loan for your needs.
Lot Loans Lot loans are interim loans used to purchase a lot on which you plan to build later. Typically, lot loans are short-term loans where the outstanding balance has to be paid off or refinanced in three to five years.
Ranch Loans For part-time ranches and farms or second homes and hunting ranches, we can help clients find the best financing options for their purchase or refinance.
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Stratus Mortgage, LLC
Terrace VII | 2801 Via Fortuna, Suite 450, Austin, TX 78746
brian@stratusmortgage.com | ph. (512) 263-0641 | alt. (866) 710-0641 |
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