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


View Tom Reichert's profile on LinkedIn

Become a Facebook Fan

Bookmark and Share

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.

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

Fixed Rate Youngstown 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 Youngstown 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

 

Tom Reichert assisted us with the refinancing of our home mortgage several years ago. He was very professional and helpful. The refinancing of our home loan mortgage was completed quickly and the process was smooth and easy. He provided excellent customer service.

Glenn & Ann R. from Columbus, Ohio

 

I recently purchased my first home and I am definitely glad that Tom Reichert was the one to walk me through the process. He was wonderful, helping me though every step. He was very kind and patient and thoroughly explained everything I needed to know. It is a confusing process, but Tom Reichert was able to make it simple!

Angela C. from Cleveland, Ohio




Sitemap