WGB Loans

Hot Programs

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Hot Programs

We at WGB Loans offer a myriad of loan programs to help you tackle every obstacle in life. We realize the value of dreams, and our hot programs, as a special edition, offer you loans that will bring you closer to them.

There comes a time in life when your needs and wants to exceed the amount of capital you have in your pocket. WGB Loans extends his hand to pick you up and push you to succeed in such a case. Our biggest reward lies in the fulfillment of the dreams you never thought could come true.

“Pick Your Term Mortgage” Program

WGB Loans offer a unique program that allows you to pick any term from the time frame of 8 to 29 years at fixed rates.

Who Should Choose ‘Pick Your Term Mortgage”?

This program is perfect for people who are looking for a flexible loan duration and are keen to pick an interest rate that remains constant throughout the loan’s life.

Working Of The ‘Pick Your Term Mortgage”

  • The loan involves you picking a comfortable loan term from the time frame of 8 to 29 years. This gives you some authority over your monthly payments.
  • This loan program locks your interest rate throughout the loan’s life. This makes your principal and interest rates to remain constant throughout the life of the loan.
  • In this loan program, tax and insurance payments may change. In case you have a down payment below 20% of your home’s price, you may require to pay for your mortgage insurance.

Eligibility For “Pick Your Term Mortgage”

  • At least 3% down payment
  • A FICO score of at least 620
  • A DTI not exceeding 50%
  • Capital to pay the closing costs, which are around 2%-6% of the purchase price.

Benefits Of “Pick Your Term Mortgage”

  • You get the power of customizing your loan’s length. This can save your monthly payments.
  • You can avoid mortgage insurance if you have a down payment of 20% or more than 20%.
  • You get a fixed rate of interest for the loan’s life. This gives you peace of mind and takes away the stress of rate increase.
  • You can fulfill your dream of stepping into your home with just a 3% down payment. The loan is able to refinance up to 97% of the value of the house.

Requirements For Mortgage Insurance

  • If you have a down payment below 20%, you’ll have to pay the Primary Mortgage Insurance (PMI).
  • This will cost you between 0.5% and 1% of your loan amount annually. It will spread over 12 payments.
  • At the moment you reach 20% equity in your home, you may be eligible to request to cancel PMI.
  • Once you reach 22% equity, your PMI will get automatically canceled.
  • You have the choice to apply for lender-paid mortgage insurance (LPMI).

30-Year Locked Loans

The 30-Year Locked Loans by WGB Loans offer a fixed rate of interest and lower payments. The payments are spread over a span of 30 years.

Who Should Choose “30-Year Locked Loans”?

This loan program is fit for people who are looking for lower monthly payments and a rate of interest that is locked and never changes throughout the loan’s life.

Working Of The “30-Year Locked Loans.”

  • Your mortgage payments will spread over 30 years.
  • Your rate of interest remains locked throughout the life of the loan. The principal and interest amount you pay won’t change throughout the life of the loan. However, your tax and insurance payments may rise or fall.
  • You may require to pay for mortgage insurance. This depends on your down payment amount.

Eligibility For 30-Year Locked Loans

  • You will require at least a 3% down payment.
  • A FICO score of at least 620
  • A DTI not exceeding 50%.
  • Capital to cover the closing costs. The closing costs are 2%-6% of the purchase price.

Benefits Of 30-Year Locked Loans

  • Since your payments will get spread over a long span of 30 years, your monthly payments will be less as compared to other loan programs. This allows you to save more.
  • You don’t need to stress about prepayment penalties. You can pay off your mortgage comfortably at any time.
  • If your down payment is 20% or higher, you may get to avoid mortgage insurance.
  • Your rate of interest is fixed throughout the loan’s life. This gives you peace of mind and no worries regarding the rate increase.
  • Your dream primary homes will come to life with a down payment as less as 3%.
  • Your primary home can get refinanced with up to 97% of its value.

Requirements For Mortgage Insurance

If your down payment is below 20%, you’ll have to pay the Primary Mortgage Insurance (PMI).

  • This will generally cost you between 0.5% and 1% of your loan value annually. The payments will get spread over 12 payments.
  • After you reach 20% equity in your home, you will be able to cancel your PMI.
  • PMI gets canceled automatically after you reach the 22% equity.