Fixed Rate Mortgage

Fixed Rate Mortgage:

The 30 year fixed mortgage is by far the most popular mortgage program we offer. Fixed rate mortgage means that the interest rate is "fixed" versus an adjustable rate mortgage (ARM) where the interest rate is subject to change in the future. Fixed rate mortgages provide borrowers with the ultimate in security. However, in exchange for the security of never having your interest rate rise, fixed rate mortgages are the highest rate mortgages available. The shorter the term of the mortgage the lower the rate. A 30 year fixed mortgage will have a higher rate than a 20 or 15 year fixed loan.

Payments on fixed-rate fully amortizing loans are calculated so that the loan is paid in full at the end of the term. In the early amortization period of the mortgage, a large percentage of the monthly payment pays the interest on the loan. As the mortgage is paid down, more of the monthly payment is applied toward the principal.

Who should take a fixed rate loan? If you think interest rates will rise or you could not accept the risk that interest rates may rise you are a good candidate for a fixed rate loan. Borrower's who have the cash to pay off their mortgages often opt for for more risky ARM loans because they could have the option to pay off the loan if their interest rate would rise.

A 30 year fixed rate mortgage is the most popular type of loan when borrowers are able to lock into a low rate.

Benefits:

· Lower monthly payments than a 15 year fixed rate mortgage

· Interest rate does not go up

· Payment stabiltiy

Negatives:

· Higher interest rate than a 15 year fixed rate mortgage

· Interest rate stays the same even if interest rates go down

A 15 year fixed rate mortgage allows you to pay off your loan quicker and lock into an attractive lower interest rate.

Benefits:

· Lower interest rate

· Build equity faster

· If interest rates go up, yours is fixed

Negatives:

· Higher monthly payment stays the same if interest rates go down

· Interest rate stays the same even if interest rates go down

***** Purchase – Springfield, PA

Walter (“Butch”) came highly recommended to us by a family member and he DID NOT disappoint. He met and exceeded all of my expectations, especially considering how overwhelming buying a first home can be. After our very first meeting, I knew I was in great hands and immediately felt more comfortable about the process. Butch did an excellent job explaining the overall process as well as each milestone in detail as we approached it. By the time our settlement came around I knew that the day would go as smoothly as the rest of the process did while working with Butch – it did.

If you’re looking for a reliable, responsive, and easy to work with loan officer, Butch is your man! It was an absolute pleasure working with him from start to finish. If I ever have to buy another home I know I have my LO.

_________________________________________________________________________

***** Purchase – Elizabeth, NJ

Dave has been extremely helpful and he made us feel as if we were his only client. We have recommended him to friends because of our great experience. He always got back to my phone calls and e-mails within an hour. He was able to answer any question I had very promptly when it came to getting all the info/documents to him. He reached out to us to see if we wanted to refinance and ultimately saved us more money. _________________________________________________________________________

***** Purchase – Devon, PA

I’ve been using and recommending Dave for over 15 years. He has done numerous new home loans and/or refinancing for myself, family and friends. In my most recent home purchase, Dave obtained our loan approval in less than two weeks and we closed in a month. Throughout the process, Dave always responded to my calls and emails immediately. Settlement went smoothly and it took less than an hour. _________________________________________________________________________

***** Refinance – Doylestown, PA

Walter (Butch) helped me refinance my loan. He walked me through it, explaining everything in detail. He was very responsive and was readily available to answer any questions that arose. I wouldn’t work with any other lender, as he is someone who is very trustworthy and dedicated.
_________________________________________________________________________

***** Refinance – Berwyn, PA

My brother and I have been using Dave Ruhlman since the mid 90’s for probably about 15 different mortgages. Our financial situation is rather complicated and Dave has no problem analyzing our tax returns and figuring things out with our accountant. Mortgages these days require more paperwork than they used to and I like that Dave explains what to expect from the start. His knowledge and hard work always makes everything happen smoothly. I really appreciate being contacted to refinance at no cost………can’t beat the service! I have no hesitation to refer Dave Ruhlman and I recently entrusted him with my son’s loan when he bought his first home.
_________________________________________________________________________

***** Purchase – Birdsboro, PA

Walter (Butch) Cutlers’ role in the acquisition of my family’s new home was pivotal. We had a tight 30 day window to put everything together and without Walter, it would have been impossible. He is very knowledgeable and puts 100% into every project he starts. I am forever in his debt for pulling off a miracle for me and my family. For anyone looking for a trustworthy and hardworking mortgage broker, he comes very highly recommended. Thank you Walter!
_________________________________________________________________________

***** Refinance – Ocean City, NJ

I have used Dave Ruhlman at National Mortgage several times over the years for my residence and also for refinancings of rental properties. He has excellent knowledge, responsiveness and always provides competitive low rates. I have referred him to clients and friends and have found they praise him highly.
_________________________________________________________________________

***** Purchase – Doylestown, PA

One mortgage and three refinances later and still friends, that is a measure of satisfaction with a broker. Butch has always been on top of the situation and provided the best service and advice on matters concerning mortgages, and always is thinking about his clients interest.
_________________________________________________________________________

***** Purchase – Gilbertsville, PA

Dave did a great job in helping guide me through my first home purchase. I really enjoyed his attention to detail and him making sure I clearly understood all of the steps involved in the whole first time home buyer process, which was great because for someone who has never gone through this before it can be a little overwhelming, so you definitely want a mortgage broker who you can trust and I found Dave Ruhlman to be that guy.
_________________________________________________________________________

***** Refinance – Perkasie, PA

Walter (Butch) has guided me through two mortgage applications. I trust Butch implicitly. He works hard for you and he takes the time to give you all the guidance that you need. You’re in good hands with Butch! I would
recommend him highly to anyone who asks