Online Bank Info

Online Bank Info

Santander Bank Mortgage

Santander Bank is a leading provider of mortgage loans and home financing solutions. An FDIC-insured bank, it offers competitive mortgage rates and allows borrowers to pay off quickly with its affordable monthly payments and other charges. Moreover, it is easy to qualify for a mortgage option at Santander Bank as it has really simplified its pre-qualifications and pre-approvals. For details regarding various Santander Bank mortgage options and also to apply for the one suitable to you, contact to Mortgage customer service at 877.729.4801 or visit, the official website of the bank. One can easily contact to mortgage representative who will offer the best loan options.

To give you an insight of what Santander might have to offer, here are its various mortgage loan options.

  • Fixed Rate Mortgages: If you are too concerned about the volatile rates, but want to stay for a long time in your home, then fixed rate mortgages would be a great option. Your payment would be market independent. That means you always know what you need to pay every month. Homeowners with a reliable and steady source of income should go for Santander Bank fixed rate mortgages, which are available in two options – 30 year fixed and 15 year fixed.
  • Adjustable Rate Mortgages: These loans are a bit tricky but can be advantageous in short run. If you have just started your career and can’t afford the high rate associated with a fixed-rate mortgage, then an adjustable-rate mortgage would be an answer. The initial rate is fixed and is typically lower than the market standard. After the specified period, it begins to adjust according to the prevailing interest rates in the market, which can increase or decrease your monthly payment quite significantly. It is a better option if you do not plan to stay in the property for a long time. Even if you choose to stay more, you can easily refinance to a fixed mortgage at any time.
  • FHA/VA Mortgages: If you belong to a select group of homebuyers, you can consider taking either FHA or VA mortgages which are available at all banks in the US, including Santander Bank. With FHA mortgages, you can avail a very low down payment (which can be as low as 3.5%) and several other benefits, including the permission to use a gift or grant for the down payment or closing cost. Veterans, on the other hand, can get the benefits of VA Loans, which come with a wide range of rate, term and cost options, and do not require monthly mortgage insurance payments.
  • Construction Loans: If you are all set to build your house on a piece of land you have already purchased, then you can avail construction loans from Santander Bank, which are available in fixed as well as adjustable-rate option. Free mortgage prequalification, a preapproval letter and the complete guidance by a competent loan expert are other highlights of Construction Loans.
  • First-Time Home Buyer Programs: If you are about to build your first home, then you will greatly benefit from Santander Bank’s First Time Home Buyer Programs, which offer low interest rate, flexible payment and down payment options, tax-saving benefits and several other advantages.
  • Homeowners Assistance: If you already own a home, but are facing some adverse financial conditions, then Santander Bank’s Homeowners Assistance might be of some help. You can consider a mortgage refinancing at more convenient rates and terms. You can also qualify for a loan modification and avail benefits under “Making Home Affordable” program. There can be many more homeowner assistance programs which you can consider. Just dial 877.729.4801 for more detailed information.

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