Primary location
3301 Rider Trl SEarth City, MO 63045
dale.mcdermott@usbank.com
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Service areas include
Primary location
3301 Rider Trl S636-777-5118
314-570-0105
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The mortgage rates shown below assume a few basic things, including:
Rates are current as of .
See rates for other states.
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10-year fixed |
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5/1 |
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5/1 Jumbo |
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30-year fixed - FHA |
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30-year fixed - VA |
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15-year fixed - jumbo |
Mortgage Loan Originator
NMLS# 574752
636-777-5118
636-777-5118
314-570-0105
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Ready to apply? Start your application.
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Mortgage Loan Originator
NMLS# 574752
636-777-5118
636-777-5118
314-570-0105
Connect when it's convenient for you. Request a call.
Ready to apply? Start your application.
ApplyMortgage Loan Originator
NMLS# 574752
636-777-5118
636-777-5118
314-570-0105
Connect when it's convenient for you. Request a call.
Ready to apply? Start your application.
ApplyGet answers to your questions regarding home financing, refinancing and more.
Depending on your home-ownership goals, there are several options for first-time home buyer loans Some examples include Federal Housing Administration (FHA), Veterans Affairs (VA) and United States Department of Agriculture (USDA) loans, which allow for low to zero down payments for qualified buyers. Conventional loans are another option, and you could qualify with a credit score as low as 620 but you’ll need a more substantial down payment (up to 20% depending on your situation). It’s important to consider the benefits of different loan options before deciding which one is right for you.
To qualify for mortgage loans that are best suited for first-time home buyers, there are general requirements that can include:
Your mortgage loan officer can work with you to see if you qualify for any first-time home buyer loans
If you have not owned a home in the last three years, you may be eligible to apply for a first-time home buyer loan and down payment assistance. The requirements for each loan type vary, but they typically are based on your credit score and down payment amount. Contact your mortgage loan officer to see if you qualify.
Yes. If you have enough equity in your home, you can consolidate a home equity loan, line of credit or other debt (like a credit card or car loan) into a Cash-out Refinance for a first-lien mortgage loan. With this option, the existing home mortgage and any liens on the property are paid off and replaced with a new mortgage. When you close on the loan, part of the loan will pay off your first mortgage and the cash-out part will pay off your home equity loan, line of credit or other debt.
Just as with your first mortgage, you must meet certain requirements to qualify for a mortgage refinance. The process includes applying for the loan, going through the underwriting process and closing on the home. A mortgage refinance may allow you to change terms, lower your monthly payments or reduce your interest rate. To learn more about how to refinance a mortgage, connect with your mortgage loan officer.
To qualify for a Veterans Affairs (VA) refinance loan , you must be an active-duty service member, veteran or eligible surviving spouse. A VA loan may allow you to refinance a home with little or no equity to get cash out or to lower your monthly payment. If you don’t meet the qualifications for a VA refinance loan, Federal Housing Administration (FHA) refinance loans offer similar advantages, including lower borrower equity requirements.
A jumbo loan is a non-conforming loan for single-family homes with loan amounts greater than $726,200. In certain high cost areas, such as Alaska and Hawaii, the conforming limit is up to $1,089,300. To qualify for a jumbo mortgage loan, you must meet the established guidelines for credit score, income and other personal financial information.
Jumbo loans are mortgages that exceed conforming loan limits. The limit on conforming loans is $726,200 in most areas of the country, but jumbo mortgages can exceed these limits. The limit can be as high as $1,089,300 in certain high cost areas, including Alaska and Hawaii.
A VA jumbo loan is a Veterans Affairs (VA) loan that exceeds the conforming loan limit of $726,200 and up to $1,089,300 in high-cost areas such as Alaska and Hawaii. If you’re an active-duty service member, veteran or eligible surviving spouse, and you meet the income and credit requirements, a VA jumbo loan could be an option for you.
Construction loans are short-term, interim loans used for new home construction, including land, contractor labor, building materials, permits and more. With these loans, the contractor receives disbursements as work progresses. There are a number of construction loans designed to fit nearly every new home construction need. Some options include construction-only loans and construction-to- permanent loans, where the loan is used for the construction of the home and then converts into a permanent mortgage loan.
Construction loans are short-term loans that cover the cost of building a new home. These loans are usually shorter in duration and are paid directly to the contractor in installments, or “draws,” as building milestones are achieved. An inspection is typically required before each payment is released to the contractor. To learn more about how construction loans work, connect with your mortgage loan officer.
If you’re considering a construction loan, you should be prepared to meet a variety of qualifying factors that can include credit score, debt-to-income ratio and credit history. You can strengthen your ability to qualify by taking steps to build and maintain a solid credit history and score prior to applying for a loan. If you’re a current U.S. Bank customer, you can monitor your credit for free with our tool. Contact your mortgage loan officer to see if you qualify for a construction loan.
If you’re considering a lot loan, you should be prepared to meet a variety of qualifying factors that can include credit score, down payment amount and debt-to-income ratio. You can strengthen your ability to qualify by monitoring your credit score and taking steps to get your score as high as possible prior to applying for the loan. Contact your mortgage loan officer to learn more about how to get a lot loan.
A lot loan is a mortgage that pays for a residential lot on which a single-family detached home will be built in the near future. It’s different from a construction loan in that it only pays for the lot the home will be built on. The construction loan pays for the construction of the home itself. Condo properties and properties with existing structures on the site are not eligible.
Lot loans are available to qualified buyers who are interested in buying a lot to build a home on. With lot loans, the initial interest rate is fixed for a set period and then becomes variable, adjusting every year for the remaining life of the loan. For example, a 3/1 ARM lot loan has a fixed rate for the first three years and an adjustable rate for the remaining duration of the loan. To learn more about how lot loans work, connect with your mortgage loan officer.
Mortgage Loan Originator
NMLS# 574752
636-777-5118
636-777-5118
314-570-0105
Connect when it's convenient for you. Request a call.
Ready to apply? Start your application.
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