Phone: 216-387-8377
American Midwest Mortgage Corp.
1991 Crocker Road
Cleveland, OH 44145

Tom Reichert
Loan Officer for 25+ Years
Ohio Home Loans Expert
Phone: 216-387-8377


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Mortgages or Residential Home Loans are loans that are secured by real estate, typically a residential home. Mortgages are also defined as a loan that is used to purchase or refinance a home.

Toledo Ohio Home Mortgages has outlined below, the most popular Residential Home Loan products available to Toledo Ohio home buyers.

Fixed Rate Toledo Home Loans and Mortgages
Under a Fixed Rate Mortgage, your monthly payments remain the same for the period of the loan. The most popular Fixed Rate mortgage terms are 30 and 15 years. A 15 Year Fixed Rate Home Loan will typically have a lower interest rate and higher monthly payments than a 30 Year Fixed.

Adjustable Rate Mortgages (ARM)
Adjustable Rate Mortgages have variable pricing, meaning your monthly payments will fluctuate over the period of the loan depending on the current interest rates at pre-determined points in time. An ARM typically has reduced interest rates compared to Fixed Rate Mortgages. Most ARMs cap the interest rate to prevent your monthly payments from skyrocketing.

Reverse Mortgages
Reverse Mortgages are a special type of home loan for older Americans that lets you convert a portion of the equity in your home into cash without having to sell the home or lose the title. Learn more about Toledo Reverse Mortgages.

Balloon Mortgages
Balloon Home Loans are short-term fixed rate loans with terms of 3, 5 or 7 years. Balloon Mortgages generally have lower interest rates than a 15 or 30 year mortgage resulting in lower payments however at the end of the loan, the borrower must pay off the lump sum of the home with cash or by refinancing.

If you meet the qualifications above, are interested in learning more about Residential Home Loans and Mortgages and looking for a Mortgage Loan Officer / Mortgage Broker, contact Tom Reichert for a free home loan quote.

 

Testimonials

 

Regarding my first mortgage, Tom Reichert provided a comprehensive overview, years of experience, and sound advice. Being a first-time home buyer, I was faced with a multitude of choices and decisions regarding mortgage types, interest rates, and lenders. Tom was able to diligently align in sequence and thoroughly explain all my options, and simplify the process down to final closing. Tom is a professional who paid close attention to detail, listened, and was engaged in achieving my goals while accomplishing each final deadline. He embodies the definition of integrity, and strives to make each business relationship into a lifetime friendship. I look forward to working with Tom Reichert again in the near future!

Kevin S. from Columbus, Ohio

 

Tom Reichert was instrumental in helping me purchase my first home. He was able to provide me with a very favorable first time home owners mortgage which allowed me to realize an even greater amount of a tax reduction. Upon selling this house, I actually received more money back as a result of this first time home owner mortgage product than he had projected. I will use him again and have referred him to several of my friends.

Jeff R. from Columbus, Ohio




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