Home Purchase

Our mortgage consultants have the expertise to assist first-time home buyers and move-up buyers analyze their short- and long-term goals to make the wisest financing decisions.

Below are the benefits of the various interest rate and monthly payment options that are available.

Fixed-Rate: The best choice for individuals who prefer the stability of a fixed interest rate and payment over the life of the loan. This predictability makes monthly budgeting easier. A longer term fixed-rate mortgage, typically 20 to 30 years, offers a lower monthly payment; whereas, a shorter term fixed-rate mortgage, from 10 to 15 years, offers a faster pay-off time.

Adjustable-Rate: The best choice for individuals who plan to move and/or expect their salary to rise within the next few years. An adjustable-rate mortgage does just that: rate and payment adjust based on an industry index plus margin. Some adjustable-rate mortgages offer longer fixed-rate periods of between three and seven years before the first adjustment to rate and payment occur.

Buydown: The best choice for individuals who prefer the stability of a fixed-rate, but need lower payments in the initial months of the loan term.
Explore the advantages of the various programs available today.

girl who just moved in with boxes all around

The best option for individuals purchasing a property in need of major renovations. Up to 50% of the appraised “as-completed” value can be financed in the loan amount. This program is great for foreclosure hunters, whether they plan to use the home as a primary residence, second home or investment property.

The best option for individuals who want to purchase quickly using cash, but want to replenish their bank accounts quickly. A fixed-rate mortgage that provides a cash-out refinance within the first six months.

The best choice for individuals who want to make a minimal down payment and are looking for more flexible credit and underwriting guidelines. FHA mortgages are government-insured and offer a choice of fixed- and adjustable-rate mortgages. Insurance from the government (MIP) replaces conventional private mortgage insurance.

The best option for individuals purchasing a property in need of light-to-major renovations. Platinum offers both 203(k) Streamlined and 203(k) Standard programs. These programs have proven to be especially valuable to our customers in light of today’s REO and short-sale environment.

A great option for individuals buying a newly built home. Work side-by-side with your homebuilder and devote time to complete your new home. The homebuilder provides the materials, equipment and supervision. You provide the labor for painting, insulation installation and landscaping, and your hard work is applied as a cash equivalent towards the down payment.

The best choice for eligible veterans, active-duty soldiers and their spouses. VA mortgages are government-guaranteed and offer zero down payment for individuals with full entitlement.

The best choice for individuals whose home is in a designated rural area. Individuals may finance up to 102% of the purchase price of their new home.

Many state and local housing agencies offer affordable housing assistance programs. Some offer down payment and closing cost assistance and some may offer mortgage credit that allows borrowers to reduce their withholding tax and free up more income for qualification purposes. Ask a Platinum mortgage consultant what programs are available in your area.

Refinance Your Loan

If you currently own your home, consider the various ways you can improve your financial position by refinancing.

Lower Your Rate: Refinancing often makes sense if you can lower your interest rate which yields a lower monthly mortgage payment.

Change to a Fixed Rate: If you currently have an adjustable-rate mortgage (ARM), it may make sense to switch to a low, fixed-rate mortgage to make budgeting easier.

Renovate Your Home: If you have light-to-major renovations in mind for your home, it may make sense to get a renovation loan to pay for all your upgrades.

Obtain Cash: Use the equity in your home for minor home improvements, college tuition or investment opportunities.

Build Equity Faster: If you currently have a 30- or 40-year mortgage and you want to accelerate your equity growth, it may make sense to change to a 15-year mortgage.

Explore the advantages of the refinance programs available today.

Unique Mortgage Services

Fast, efficient closings and innovative programs are hallmarks of Platinum. We also offer unique services to assist our valued customers and referring partners.

SECOND LOOK SERVICE: We provide you with the opportunity to have loans that were previously denied by another lender re-evaluated. In some cases, we are able to find a way to change ‘denied’ to ‘APPROVED’!

IN-HOUSE PROJECT APPROVALS: Our in-house Project Approval Department has the delegated underwriting capabilities to get approvals quickly. We help homeowner’s associations, management companies and sellers obtain the project approvals they need to better market their properties.