Move to Top Reasons
THIS YEAR
Have You
Your Home Needs Lately?Analyzed Your Home Needs Lately?
If your priorities today are vastly different than they were at the beginning of the year, you are not alone. Whether it’s the need for a separate home office space or simply a place with less upkeep, loanDepot is here to assist you with your homeownership goals. Follow our easy three-step process to gain clarity on whether a move may be in store for you.
Step 1
DETERMINE YOUR HOME NEEDS
To make a positive step toward your desired lifestyle, it’s important to identify the drivers behind your motivation for change. Which of these five categories do you relate to the most?
1. Things are Getting Tight
Whether you rent or own, your home needs may have changed over the last few months. If you have outgrown your current space and need to upsize to a larger one, speak with your lender about the mortgage financing program to best help you reach your goal.
2. You're Ready to Enjoy Retirement
Did you know that selling your current home could help create the lifestyle and cash flow you need to enjoy retirement? By leveraging the proceeds of your home and downgrading to a smaller, more functional space, you could reduce your monthly housing cost and enjoy less maintenance.
3. You Need Breathing Room in Your Budget
Now, more than ever, you may be thinking of ways to stretch your budget and lower the cost of housing. Whether it be moving to a more affordable home or lowering the cost of your existing mortgage, ask your lender to assess your current mortgage and determine the best course of action.
4. You Desire a Place with Less Upkeep
If you find yourself spending increasing amounts of time fixing your home, it may be time to consider a place with less upkeep. loanDepot offers many competitive-rate home loan programs that may help you finance a low-maintenance property and spend more time doing what you love.
5. You are Ready for an Upgrade
If you’ve been considering a move, this year may be a good time to leverage your purchase power and secure a new home. You may be able to afford more home today with the same investment!
As shown in the chart below, every increase in rate can result in you losing a substantial amount of purchase power.
Purchase Price / Loan Amount Interest Rate APR Monthly Payment
$450,000 / $360,000 3.25% 3.284% $1,567
$436,250 / $349,000 3.50% 3.535% $1,567
$410,250 / $328,200 4.00% 4.038% $1,567
$386,500 / $309,200 4.50% 4.542% $1,567
Conventional Fixed 30 year program with 20% down payment. Rates, terms, and availability of programs are subject to change without notice. Not all products are available in all states or for all amounts. Additional conditions, qualifications, and restrictions may apply. This is not an offer for extension of credit or a commitment to lend.
So what's your reason for
Is it on the list or do you have a vastly different motivation for your next move? No matter what your lifestyle change, you don’t have to figure it out alone!
Our team can help you find the best mortgage to suit your unique situation. The best part? We can facilitate your transaction digitally and streamline the entire transaction virtually.
moving?
Now that you have defined your end goal, it’s a lot easier to determine the right mortgage product to help you accomplish it. If you’ve decided that a move is the best choice (you identify
#1, #2, #4 or #5), you’ll likely apply for a purchase home loan. If your goal is to reduce your housing cost and stay in your home (you picked reason #3), then a refinance may be your best bet. Step 2 CHOOSE BETWEEN PURCHASE OR REFINANCE Whatever the choice, loanDepot offers unique mortgage products to help you meet your homeownership goals! over 300 Not sure which loan is best for you? No worries! Move to step three… Fixed and Adjustable Rate Mortgages Rate, Term & Cash-Out Refinances Conforming & Non-Conforming Loans State / Bond Programs Government Loans (FHA, VA, USDA) Jumbo Loans Condo / Co-op Financing Construction-to-Perm Renovation Foreign Nationals & ITIN Second Mortgages & HELOCs Reverse Mortgages Interest Only Bank Statement Programs Real Estate Investor Programs loanDepot's Mortgage Menu
with
Step 3
WORK WITH YOUR LOAN CONSULTANT
The last step is to connect with your Loan Consultant. Ask them to assess your current mortgage terms to determine the best solution for your future, whether it be creating more room in your budget or financing a new residence.
Once you are ready to apply, you’ll be able to do so right from the comfort of your home. loanDepot’s digital loan experience, the mello smartloan™, will streamline the entire mortgage transaction digitally, from application to closing.
Contact me today to set up a virtual consult!
About loanDepot
loanDepot (NYSE: LDI) is a digital commerce company committed to serving its customers throughout the home ownership journey. Since its launch in 2010, loanDepot has revolutionized the mortgage industry with a digital-first approach that makes it easier, faster and less stressful to purchase or refinance a home. Today, as one of the nation’s largest non-bank retail mortgage lenders, loanDepot enables customers to achieve the American dream of homeownership through a broad suite of lending and real estate services that simplify one of life’s most complex transactions. With headquarters in Southern California and offices nationwide, loanDepot is committed to serving the communities in which its team lives and works through a variety of local, regional and national philanthropic efforts.
Rates, terms, and availability of programs are subject to change without notice. loanDepot.com, LLC, 6561 Irvine Center Drive, Irvine, CA 92618. All rights reserved. NMLS #174457 (www.nmlsconsumeraccess.org) AZ: Mortgage Banker 0911092. CA: Department of Financial Protection and Innovation under the California Residential Mortgage Lending Act CRMLA 4131040. CO: Colorado Department of Real Estate under a Mortgage Company Registration. CT: Connecticut Department of Banking as a Mortgage Lender #ML-174457. FL: Florida Lender License number MLD903. GA: Georgia Residential Mortgage Licensee #24020. IL: Illinois Residential Mortgage Licensee #MB.6760709. MA: loanDepot is a Mortgage Lender in Massachusetts License #MC174457. MD: Licensed as a Mortgage Lender by the Commissioner of Financial Regulation #06_18928. MN: This is not an offer to enter into an interest rate lock agreement under Minnesota law. MS: Licensed by the Mississippi Department of Banking and Consumer Finance. NH: Licensed by the New Hampshire Banking Department. NJ: Licensed Mortgage Banker – NJ Department of Banking and Insurance. NY: Licensed Mortgage Banker - NYS Department of Financial Services No. 109061. OR: License # ML-4972. PA: Licensed Mortgage Lender No 31342 by the Department of Banking and Securities. RI: Rhode Island Licensed Lender. TN: under Mortgage License No. 110371; VA: mortgage lender and broker by the Virginia State Corporate Commission #MC-5431; WA: licensed by the Department of Financial Institutions under the Consumer Loan Act#CL-174457. Also licensed in: AK, AL, AR, DC, DE, HI, IA, ID, IN, KS, KY, LA, ME, MI, MO, NC, ND, NE, NM, NV, OH, OK, SC, SD, TX, UT, VT, WI, WV and WY. (080321 351011v2b)
