Countrywide Home Loan Options - Combination Rate Mortgages

If you are buying a home and want a home loan that offers both affordability and payment stability for a fixed period, then a Combination Rate Mortgage is for you! At Countrywide Bank’s Full Spectrum Lending Division, we understand that homebuyers have different needs. If our Adjustable Rate Mortgage and Fixed Rate Mortgage loans aren't a good fit for you, then a Combination Rate loan may be exactly what you're looking for.

How Does A Combination Rate Mortgage Work?

A combination rate mortgage loan combines the most popular features of our Adjustable and Fixed Rate Mortgages. Countrywide's Full Spectrum Lending Division offers a choice of 2 to 3 years of fixed monthly payments based on a fixed interest rate. When the fixed rate period ends, your interest rate will become adjustable for the remainder of the home loan term. The adjustable interest rate will be based on the widely-used LIBOR index.

With a combination rate loan, initial fixed monthly payments mean you can budget with ease, and you'll have the added advantage of generally paying a lower monthly payment during the fixed period. So, not only will you achieve budget flexibility during the fixed period when you potentially need it most, but you'll have the peace of mind of knowing that your payments will remain stable for up to three full years.

Benefits Of A Combination Rate Mortgage Loan

Established Fixed Payments – Up to 3 years of fixed monthly payments will enable you to manage your finances more easily and effectively.

Bigger Savings Upfront - If you are buying a home and intend to live in it for five years or less, the lower upfront fees and initial expenses mean that a combination rate home loan may be the most cost-effective home loan for you.

Lower Initial Payments - You'll secure lower monthly payments and startup costs than you would pay with a Fixed Rate Mortgage.

Bigger Loans, Greater Buying Power - This loan can help you afford the home of your dreams with loan amounts up to $500,000 for buying a home.

Easier Home Loan Approval

Combination Rate Mortgages tend to be easier to qualify for, putting homeownership within reach of many more people than a traditional fixed rate loan.

Is a combination rate home loan right for you? Explore all our loan options to discover which is best suited for your needs. Then call Countrywide’s Full Spectrum Lending Division at 1-800-909-8217. Our expert Home Loan Consultants can educate you on the best available loan options to meet your individual needs and guide you through the entire loan process.

Even if your credit isn't perfect, we are eager to help you purchase the home of your dreams. We specialize in helping people with all types of credit backgrounds get the home loan that meets their needs, and puts financial difficulties behind them. So, call today and apply, and find out what Countrywide do for you.