Compare Mortgage Options

From conventional loans to government-backed programs, it’s never been easier to find a home loan that fits in with your lifestyle and budget. With a variety of home loans out there, comparing your options before making a decision is crucial. The loan specialists at J.G. Wentworth will work with you to compare your home loan options until you find the one that’s right for you.

How To Compare Your Options

When comparing mortgages, you should understand what makes a loan a viable option. Loan options are always made up of the loan term, interest rate type, and specific loan type. 

Loan Term

The term determines how long you have to pay the loan in full. This can affect your monthly principal and interest payments, interest rate, and the amount of interest you will pay over the life of the loan. Common loan terms are 15 and 30 year periods. 

Interest Rate Type

Here, you have two basic types to choose from: fixed-rate and adjustable-rate mortgages. Which one you choose will affect whether or not your interest rate changes over the course of the loan. 

Loan Type

Loans are categorized based on whether or not they are part of a government program. The type of loan you choose will affect the size of the down payment you will need, whether or not you need mortgage insurance, the total cost of your loan, and how much you can borrow.

Home Loan Options

Here are eight types of mortgages J.G. Wentworth offers:

  1. Adjustable Rate Mortgages (ARMs)
    Key Benefits:
    • Interest rate can change periodically; can take advantage of falling rates
    • Initial lower monthly payments
    Good option if you:
    • Want flexibility
    • Plan on moving within the next few years
  2. Fixed Rate Loans
    Key Benefits:
    • Interest rate stays the same; can lock in a low rate now
    • Mortgage payment stays the same
    Good option if you:
    • Want security and predictability
    • Plan to stay your home for a long time
  3. FHA Loans
    Key Benefits:
    • Insured by the Federal Housing Administration
    • Low down payments--minimum is 3.5%
    • Credit scores as low as 500 are accepted
    Good option if you:
    • Need flexible qualification requirements 
    • Have limited funds for down payment
  4. HARP Refinancing
    Key Benefits:
    • Refinance into more affordable mortgage
    • Reduces your interest rate
    • Lowers monthly payments
    • No appraisal required
    Good option if you:
    • Have little or no equity to refinance into more affordable mortgages
    • Loan-to-value (LTV) ratios equal or greater than 80 percent
  5. Home Improvement Loan
    Key Benefits:
    • Flexible usage; can be used whether you are building an addition or updating a bathroom
    • Low, fixed rates
    Good option if you:
    • Are looking to increase your property value
    • Want to make improvements without using home’s equity
  6. Jumbo Loans
    Key Benefits:
    • Increased purchase limits for higher-priced properties
    • Fixed-rate and ARM options
    Good option if you:
    • Are purchasing a home that exceeds conforming loan limits ($453,100)
    • Need room for all your family members
  7. USDA Loans
    Key Benefits:
    • Zero down payment
    • Low interest rates
    Good option if you:
    • Are looking to buy a home in a rural area
    • Have a steady, modest income
    • Are unable to obtain a conventional loan
  8. VA Loans
    Key Benefits:
    • Backed by the government
    • No down payments for most loans
    • No Private Mortgage Insurance (PMI) required
    • Flexible qualification guidelines
    Good option if you:
    • Are an active military member or veteran
    • Are a surviving spouse of military member who died as a result of a military-related disability
    • Are first-time homebuyers or looking to refinance

Mortgage Comparisons

J.G. Wentworth can work with you to evaluate your current situation. Once we establish what exactly you are looking for in a mortgage, we can conduct several home loan comparisons until you find a fit you’re comfortable with. Our innovative technology allows us to compare mortgages for you with ease. Contact the knowledgeable loan specialists at J.G. Wentworth to get a quote today and explore your available mortgage options.

How do I get started?

J.G. Wentworth offers a wide variety of loan programs with low rates and no points and no hidden fees.  To get started, you can call us or let us contact you by completing a short form.  You can also get a rate quote in seconds with no personal information required. We look forward to working with you.