What We Do, in Two Minutes
Welcome to Chadash Lending Group, LLC
Chadash Lending Group, LLC is a Licensed Mortgage Lender and a Licensed Mortgage Broker in the State of Georgia and Florida.
Our name “CHADASH” is Hebrew for “New”, “Fresh”, “New Thing”. This demonstrates our commitment to being there for you as you embark on your “New” lifestyle change. Whether this is your first time or you’ve done it before, buying a home for yourself and your family is a major accomplishment. It is a “New Thing”, resulting in a “Fresh” outlook on life, and Chadash Lending Group would love to become the avenue by which your dreams are realized.
Get a Fresh Start
Helping people realize their dreams and accomplish their goals in life is very rewarding to us at Chadash Lending Group. And because not only are we a Lender, but we also work with several outstanding Lenders, with the variety of Loan Programs we offer, everyone can be successful. It’s time to try something “New”. We would love the opportunity to help you take that first step, and walk with you through the process of obtaining a loan for purchasing or refinancing your home.
Chadash [khä·dash'] - Hebrew “New”, “Fresh”, “New Thing.”
Root Meaning: To Renew, To Repair, To Rebuild, To Restore.
Renew
We help you get a fresh start on your home by helping you get the loan you need to expand, extend or further renovate your current property.
Repair
and Restore
Repairs can be difficult and expensive, we help you get the loan you need to repair your house and restore it to its former glory.
Rebuild
We can help rebuild your home and property by using the equity in your home to refinance and get cash-out, through a Home Equity Loan or Line of Credit (HELOC).
We can help you with your real estate document preparation needs.
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What is a mortgage lender?
Purchasing your own home may be the most important financial decision you make in your life. It may very well be the largest purchase you ever make, and because of the financial risk involved and the number of complicating factors, it is crucial that you educate yourself on the process and your options as much as possible before making any final decisions. This is why choosing the right mortgage lender is vitally important for your financial future. A mortgage lender will help educate you on the available loan options for your situation. This lender is a financial institution that will provide you with an interest rate and mortgage loan options that are available to you. A mortgage lender will help you understand the terms of a conventional loan, as well as the other options you may qualify for or that may be better suited to your needs, including both residential and commercial real estate loan options.
What factors do mortgage lenders consider when setting the terms for a loan?
Your mortgage lender will take a variety of things into consideration when determining the interest rate, repayment schedule, and other terms for your loan. Your credit score, for example, will tell a mortgage lender a lot about your financial history and your ability to repay the loan. If you have a score above 660, you will likely be approved for a loan through the mortgage lender. The higher your score, the better terms you may be offered for your loan. Mortgage lenders take on the risk of providing the loan, and they will look carefully into your financial history to ensure that they are making a smart financial investment by providing you with a mortgage loan. Other things that may be considered is your yearly income, current debts, and current assets.
What is a home equity loan?
A mortgage lender may provide you with a home equity loan. This is a type of loan that you can take out if you already own your home or other property. It is sometimes referred to as a second mortgage. Basically, you are borrowing money from the mortgage lender and using your current property as collateral. If you default on the loan, the mortgage lender is covered financially. You may consider a home equity loan as an alternative to taking on other types of debt, such as credit card debt, which will very likely have a much higher interest rate as compared to a home equity loan.
How is a reverse mortgage different from a home equity loan?
Another loan option that your mortgage lender can go over with you is a reverse mortgage. No matter what type of loan you choose, it is important that you understand the pros and cons of each option. Only homeowners who are 62 years of age or older can choose a reverse mortgage. You also need to have built up home equity. You are taking out a loan against the total value of your property. The pros of a home equity loan is that you do not have to make any payments. Your estate will pay back the loan after you die. A major downside to this type of loan is that there are a lot of illegitimate offers out there, and people who are 62 or older are a high-risk demographic for being taken advantage of by scammers. You can avoid this downside by working with a reputable mortgage lender.
Are there options for borrowers who have a lower income or poor credit?
People who are part of the lower class or lower-middle class in terms of socioeconomic status or who have a credit score under 660, which is the threshold for being considered to have good credit, still have options when it comes to mortgage loans. A Federal Housing Administration loan, or FHA loan, is a good option if you are in a lower income bracket. If you think you may be eligible for an FHA loan, talk with a mortgage lender to learn about all of your options. Poor credit or a modest income do not need to be roadblocks to getting approved for a mortgage loan.
Are there any common mortgage loans that do not require a down payment?
The best thing to do if you are looking for mortgage loan options that do not require a down payment is to talk over all of your options with a qualified mortgage lender. However, there are a few common types of loans that may be available. If you live in a rural or suburban area of the country, you may also be eligible to apply for a USDA loan with your mortgage lender. The most attractive feature of these loans is that you do not need to provide a down payment. For lower-income people, a down payment can be a stalling point for receiving a mortgage loan. If you are a veteran, you may also be eligible for a loan that does not require a down payment. A VA mortgage loan is backed by the US Department of Veteran Affairs and is one way the government helps veterans achieve homeownership.
How do I choose the best mortgage lender for my needs?
A mortgage lender should have the ability to provide you with all of your options for a mortgage loan. You may also be considering a loan for a home repair or renovation or for rebuilding parts of your property. The best mortgage lender will have these options available to you, as well. Make sure the lender you choose takes the time to understand your goals and financial history. No matter if you are looking for a residential loan or a commercial real estate loan, your mortgage lender should explain all of your options in language that you can understand. Especially if this is your first time working with a mortgage lender, you might have a lot of concerns, and your mortgage lender should patiently answer all of your questions. Additionally, look for a mortgage lender who will process your loan quickly, especially if you have a good credit score. Two to four weeks is considered a fast timeframe for processing a loan request.