Article by Sonal Kaur
A section of the Metlife Bank, Metlife Home loans is counted among the top 10 mortgage lenders. There are in all more than 100 retail offices along with over 13,000 mortgage consultants in USA. This division of the bank caters to the different needs of over 550,000 customers throughout Unites States of America. With truth, sincerity and fairness, they help its various customers to build, renovate as well as to buy the house of their dream.
Metlife Home Loans
It offers different customer products and services in relation to home loans.
Fixed-rate home loans
This type of loan is perfect for those customers who are reluctant to worry about the fluctuation in the interest rates in case they plan to live in their homes for longer period. The various types of fixed rate mortgages which are offered include conforming mortgage loan, Interest only loan and Jumbo loan.
ARMs or adjustable-rate loans
This kind of loans is for those who do not have plans to stay in their homes for a longer time period. In this kind of loan, the interest rate remains lower in comparison to the fixed rate mortgage. Home buyers applying for this type of loan must keep in mind that the interest rate on ARM can be adjusted each year after the expiry of the fixed rate.
Since the initial rate of interest is low, the monthly payments automatically become lower. The interest rate can be adjusted once in year, this means that if the rates increases, the payment also increases and vice-versa. 'Rate cap' protection is offered in most programs of ARM, which limits the percentage of both the increase and decrease in the rate. Some of the loans programs which are available as fixed rate home loans as well ARMs home loans are FHA loans or government sponsored programs, Jumbo loan, VA or Veteran Administration loan and Interest-only Adjustable Rate mortgages.
Reverse mortgages
The interest rates of reverse mortgages of Metlife are lower in comparison to other le! nders. T he different types of reverse mortgages offered by Metlife home loans are Fixed-rate Home Equity Conversion Mortgage, HECM Saver Reverse Mortgage, Adjustable-Rate Home Equity Conversion Mortgage, Home Equity Conversion Mortgage for purchase and Refinancing.
Whether refinancing the present house or buying a new one, Metlife provides home loans that are perfect for the customers. With online banking offered by this bank, customers can apply online with the login id and password.
Insurance of home
Home is the largest asset of anyone, this necessitates for insurance. Metlife Auto & Home Homeowners policy offer insurance in case the house needs repairing or rebuilding. The different insurance offered includes flood insurance, disability income insurance and term life insurance.
About the AuthorAuthor is a consultant who loves to write on topics related to finance, education and travel. For detailed information you can visit Metlife home loans and Metlife
1 comment:
Loan modifications are available to anyone who has suffered a financial hardship.
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