You might be looking to buy a house and want to see what kind of loan your qualify for, but it can be confusing. This post will demystify the process and help you figure out which type of loan is right for you.
What is an Axia Home Loan?
An axia home loan is an unsecured endowment mortgage. It uses an insured bank account as collateral against any losses. The customer’s own savings are not used in this case, and the bank only offers an unsecured loan of up to 80% of the purchase price.
If you are looking for a fast, short-term loan from $10,000 to $35,000 and are currently employed with a good track record, an Axia Home Loan is the home loan for you. Discover more about axia home loans by reviewing the multiple factors discussed in this blog.
Pros and Cons of an Axia Home Loan
One of the best things about an axia home loan is that it is interest-free for up to 3 years. This means that you pay nothing in interest charges on your loan. The other benefit of an axia home loan is its simplicity. It only needs a 10% down payment and you can transfer the balance over to your child or grandchild without any fees after the 12th month. An axia home loan also offers flexible terms, as well as rates.
The pros of an axia home loan include the fact that they offer up to 3.5% fixed interest and no pre-payment penalty. The cons include that you do not get the same type of benefits as with a conventional loan, such as grant money for down payments and preferred rates.
What Qualifies for an Axia Home Loan?
To qualify for an axia home loan, you’ll need to have a high credit score, be employed, and have equity in your current home. Additionally, you may need to provide proof that there are enough resources in your home that are not depreciating.
An Axia Home Loan is typically a short-term home loan program that has a wide variety of loan limits, interest rates, and loan terms. This type of lending option allows borrowers to receive up to $417,000 in mortgage financing for their first home purchase in the United States.
How to Apply for an Axia Home Loan
You should always compare and contrast your options before deciding what kind of loan is best for you. Compare rates, fees, and terms of different loans in order to find the loan that is right for you. When applying for an Axia home loan, make sure that you fully understand the requirements of the program and that it’s within your budget.
Apply for an Axia Home Loan by filling out a simple online application.
The first step in deciding whether a home loan is right for you is to figure out how much house you can afford. If your monthly income is higher, you will likely qualify for an axia home loan, which typically have lower interest rates than traditional loans.
Under the current market conditions, it is really important to know if you are eligible for an axia home loan. If you qualify, this could be the perfect opportunity to buy a house or refinance your current loan. Please contact axia home loans today and find out if you are eligible!