Horizon Mortgage & Investment Company

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Horizon Mortgage & Investment Company
3940 Kitsap Way
Bremerton, WA 98312
Phone: (360) 373-9992
Toll-Free:(800) 836-0484
Fax:(360) 373-5070

Mission Statement

Our mission is to be a diversified real estate financial brokerage company delivering the right product at the right rates with the highest quality of service. Our goals---to increase market share through originations and sales and to ultimately increase profits---will overwhelmingly be the result of affirmative responses to these "rights." We will continue with our entrepreneurial drive that has characterized our key strategic policies and decisions of not only the past but also the present in order that we may achieve tomorrow's objectives. We believe the heart and soul of our company is reflected in our commitment to our community. To our customers, we pledge to provide the highest levels of service at the lowest possible price. To our affiliates, we pledge to establish and maintain mutually beneficial relations built on integrity and sound business ethics. And to our employees, whose focus and attention to detail and high quality service has made us your "Hometown Mortgage Source," we pledge to provide challenging and rewarding opportunities within a pleasurable working environment.

There are a variety of loan programs available today. As one of the largest Mortgage Brokers in the state of Washington, it is our goal to provide quality service through a variety of lending options.Horizon Mortgage has over 150 loan programs to better serve our customer's financing needs.

Conventional

Many people start out with an adjustable rate mortgage because the payments are very low at first. However, if they keep them long enough they can end up paying too much. After an ARM is for 2 or 3 years old, it may be adjusting to as high as 9.0% in today's rate environment. You don't have to accept this rate increase.
Our "No-Cost" program will lower your rate at no cost to you. We pay all of the closing costs: title fees, appraisal fees, and credit report fees. There are no loan fees or prepayment penalties, and nothing is added to your loan balance.
This is a true "can't-lose" situation for you as a homeowner. You get the benefits of a lower interest rate of while incurring no costs to refinance. In many cases you can actually tap into the valuable equity that you have accrued on your home by taking "cash-out" in the refinance.

VA

These loans are made by a lender, such as a mortgage company, savings and loan or bank. VA's guaranty on the loan protects the lender against loss if the payments are not made and is intended to encourage lenders to offer veterans loans with more favorable terms.
The amount of guaranty on the loan depends on the loan amount and whether the veteran previously used some entitlement. With the current maximum guaranty, a veteran who hasn't previously used the benefit may be able to obtain a VA loan up to $203,000 depending on the borrower's income level and the appraised value of the property. The local VA office can provide more details on guaranty and entitlement amounts.

Non-Conforming

Non-conforming loans, simply put, are mortgage loans for borrowers whose situations do not "conform" to strict Fannie Mae/Freddie Mac underwriting guidelines. Credit guidelines are more liberal than those encountered in any other type of financing. In other words, applicants with "less than perfect" credit should not be discouraged. There is opportunity for home ownership for everyone.

Equity Lines

A home equity line of credit loan is a credit line secured by your real estate. Equity lines work like a revolving credit line - you use the money, pay it back, then use the money again. Generally, you are given a book of checks to write against the line. The amount of your credit line is based on the amount of equity you have in your home and the guidelines set by the specific lender you choose. Home Equity credit line products are probably the most diverse - each lender has their own specific guidelines and limitations. Line of credit products usually work best for people who intend to pay the loan back quickly or who need extremely low payments for a shorter period of time. Below we have highlighted some of the differences between a line of credit and a more traditional mortgage including how you repay the loan, qualifying and processing, and how your loan amount is determined. We have also included a list of advantages and disadvantages.

Second Mortgage

A second mortgage offers a tax deductible loan with no equity required. Financing is available up to 125% of value, receive quotes and details from lenders specializing in second mortgages. A second mortgage does not require you to have equity in your home, with loans up to 125% of the value. Pay off your bills, make home improvements, or receive cash out for any purpose.
A fixed rate second mortgage is a simple interest loan which is placed in second position on the property title, and does not change the terms of your existing first mortgage.
A new second mortgage can provide a tax deductible source of funds to consolidate debts and reduce your monthly payments. It's estimated that you can save three times more on a fixed rate, simple interest second mortgage than paying credit cards with high compound interest.
The interest portion of second mortgage payments can be tax deductible. The tax savings can be substantial when compared to paying on other non-deductible debts.

FHA

The Federal Housing Authority (FHA) was created by the National Housing Act of 1934 to help revive and stabilize a housing market devastated by the Great Depression and the breakdown of the banking system. It did so by providing federally backed mortgage insurance, first for construction loans and then long term mortgages. By meeting credit history and down payment criteria established by FHA, a borrower can obtain a 20 year fully amortizing mortgage loan.
The Department of Housing and Urban Development (HUD) authorizes the Federal Housing Authority (FHA) to insure lenders against foreclosure loss for any residential mortgage that does not exceed Congressionally set loan amounts.

Commercial

We see opportunities that others don’t. At Horizon Mortgage, we’ve designed our Commercial Origination Program for customers who are not well served by traditional banks, life companies or conduits. We specialize in financing out-of-favor or difficult-to-finance real estate properties, such as hospitality, assisted-living and unanchored retail; turnaround properties with temporary cash-flow deficiencies; odd property types including rooming houses, marinas, bars and restaurants; and deals that require subordinate financing.
Of course, we finance traditional income producing property types, but we focus on transactions where there is a bit of a story on the deal or the borrower is in need of a fast closing. We close most of our loans in two to three weeks, under 10 days if necessary. We are able to accomplish this because we do not have excessive layers of management and bureaucracy, we are accustomed to seeing outside the box deals and are able to make decisions quickly. Most of our deals are in the 50-70% loan-to-value range and from $400,000 to $6,000,000. We lend in most continental United States locations.


Custom Construction

Specializing in Construction Loans for all types of borrowers. We offer "One Time Close" Construction Loans with a guaranteed lock rate at completion of construction. Why worry about re-qualifying, re-appraisals or incur additional closing costs.

Construction financing is a specialized field. To better serve your new home construction loan application process, we assign you an expert consultant from the moment you apply. He/She will work with you from the very beginning until the funding day, making the process smooth and seamless.


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