Mortgage Loan Frequently Asked Questions
Get your frequently asked mortgage loan questions answered by the lending experts at Nationwide. Our mortgage lenders are here to service your home financing needs with all types of purchase and refinance loans.
What types of home mortgage loans are available with Nationwide?
Nationwide offers the following mortgage options for refinance and home purchase loans:
|Fixed-Rate Mortgage Loans:
||Adjustable Rate Mortgage (ARM):
40-year fixed rate
30-year fixed rate
25-year fixed rate
20-year fixed rate
15-year fixed rate
10/1 year ARM
7/1 year ARM
5/1 year ARM
3/1 year ARM
1 year ARM
What are the main differences between a mortgage loan broker and a direct lender?
When you do business with a direct lender, like Nationwide you benefit from dealing with a team of loan experts. Our mortgage lenders provide the expertise you need. Lenders approve the mortgage loan themselves so the process is typically faster than it would be working with a loan broker.
Nationwide Mortgage Loans is a direct lender who provides exceptional service and a plethora of home loan products to choose from.
How are the interest rate and APR different?
An Interest rate is the monthly cost you pay on the unpaid balance of your home loan. An annual percentage rate, also known as APR includes the cost of credit with the interest rate. The cost of credit includes prepaid finance charges like escrow, processing and underwriting fees.
Check out new state guidelines for FHA mortgage loans that provide interest rate incentives and pricing regionally for home purchase and refinance loans.
Ask your loan officer about state specific loan incentives that may enable you to lower your mortgage payment even more. HUD regulates the loan amount limits that vary from state to state based on cost of living conditions.
Since the subprime debacle last year, homeowners have migrated towards FHA home loans for rate and term, cash out and new home purchases.
Nationwide Mortgage Loans offers low rate home mortgages across the country to qualified consumers. We continue to provide a multitude of home mortgage loan options that ensure competitive interest rates and flexible credit guidelines.
Loan Comparison Calculator
This calculator will help you to compare the total mortgage interest charges of 4 types of loans.
Take advantage of our free guides and disclosures that help 1st time homebuyers.