Purchasing New House

With only 3% down, you can buy the house of your dreams! We have so many different programs that can satisfy all your different needs and situations.

The Fixed Rate Mortgage is the most common type of mortgage program where your monthly payments for interest and principal never change. Your property taxes and homeowners insurance may increase, but generally your monthly payments will be very stable. Most Fixed-rate mortgages are available for 30 years, 20 years, 15 years and even 10 years.

There are two distinct features in a Fixed rate fully amortizing loan. First, the interest rate remains fixed for the life of the loan. Secondly, the payments remain level for the life of the loan and are structured to repay the loan at the end of the loan term. The most common fixed rate loans are 15 year and 30 year mortgages.

• We have 1st time buyer programs!

Refinancing a House

Refinancing your mortgage can save you a lot of money.

When you're making your decision, there are several things to keep in mind.

First, even a small rate cut can pay off quickly.

Second, if you are planning to stay in your home for at least three to five years, it may make sense to pay "points" (a point equals 1% of the loan amount) and closing costs to get the lowest available rate.

And third, you can avoid a cash layout and still get a low rate by adding the fees and closing costs to your new mortgage. This does not mean shouldering a lot of extra debt. If you've had your current mortgage for at least three years, you've probably reduced your balance by several thousand dollars. So you may be able to tack your closing costs onto your new loan, lock in at a lower rate and still end up with a mortgage amount that's less than your original one. More importantly, a lower monthly payment.

• Save money with lower rates! Low monthly payment

• Take "Cash-out" money from your home, for almost any purpose! consolidate debt

• If you have adjustable rate turn into a fixed!

Debit Consolidation

Venegas Financial provides a variety of loan programs to meet all of your debt consolidation needs. If high interest rates eating you alive, Venegas Financial can help.

Stop paying high interest rate payments to your credit card companies and consolidate all your bills into one low monthly payment.

With a simple interest debt consolidation loan, you can consolidate your high interest credit cards and other loans into one lower payment and can save you hundreds of dollars each month. Making debt payments more manageable while improving your credit rating.

• Improve your credit rating by paying off all your outstanding debts!

• Add peace to your life, by consolidating your debt into one low monthly payment!

it can end up saving of dollars in interest

Home Equity

They can provide you with large amounts of cash at relatively low interest rates and they can provide you with certain tax advantages unavailable with other kinds of loans. Check with your tax advisor for details.

Home equity lines of credit require you to use your home as collateral for the loan. In addition, because home equity loans give you relatively easy access to cash, you might find you borrow money more freely.

In addition to Home Equity Loans, there are other ways to borrow money . For example, you may want to explore second mortgage installment loans. Although these plans also place an additional mortgage on your home, second mortgage money usually is loaned in a lump sum, rather than in a series of advances made available by writing checks on an account. Also, second mortgages usually have fixed interest rates and fixed payment amounts.

• A line of credit of 100% value of home !

• Only pay interest on that which you use !

• Rate are not fixed always prime 2

Second Mortgage

A second mortgage loans may extend for as long as 15 or 20 years; others may require repayment in one year. You will need to discuss the repayment terms with the individual mortgage company and select one who offers terms that best suit your needs. For example, if you need to borrow $20,000 to make repairs on your home, you may not want a loan that requires you to repay the entire amount in one or two years because the monthly payments may be too high.

	A line of credit of 100% value of home !
	Rate is fix !
	You can amortize over 5, 10, 15, 20 yrs

Free Consultation
Contact us today for a no-hassle, free consultation.

McHenry - Lakemoor Office

VMF Mortgage Inc

328 Rand Road Rte 120, Lakemoor, IL 60051

Phone: 815- 759-3880
Fax: 815 344-1820

Elgin Office

VMF Mortgage Inc

721 N Dundee Ave. Elgin Il 60120 

Phone: 847-214-9119

Fax 847-2149124