A Home Equity Loan allows you to access the value you’ve built in your home and receive it as a lump sum. This can be helpful for things like home improvements, consolidating debt, or covering major expenses. It’s a great way to put your home’s equity to work while keeping predictable payments. 

An ARM might help you secure a lower initial interest rate, which can mean lower monthly payments at the start of your loan. After the initial fixed period, the rate can adjust based on market conditions. This option can be a good fit if you plan to move or refinance before the adjustment period begins.

A VA loan is a government-backed loan that allows eligible veterans, active-duty service members, and certain military families to purchase a home with no down payment and competitive interest rates. It’s designed to make homeownership more accessible for those who have served, and I’ll help you take full advantage of those benefits.

A fixed-rate mortgage keeps your interest rate, principal, and interest payment the same for the life of the loan. This consistency makes budgeting easier and provides long-term peace of mind, especially if you plan to stay in your home for many years.

An FHA loan allows you to purchase a home with a lower down payment while also offering more flexible credit requirements. This makes it a popular option for first-time buyers or anyone looking to get into a home sooner without needing a large upfront investment.

We offer a comprehensive suite of home loan products, including conventional, FHA, VA, USDA, jumbo, and reverse mortgages, for both purchases and refinances. We specialize in unique financing options like renovation loans, new construction loans, and specialized programs such as HomeNow™ down payment assistance.

The credit score required to buy a home differs based on the type of loan you’re applying for. But in general, the higher your score is, the easier it will be to get a great mortgage loan and a better interest rate.

Closing costs typically range from 2-5% of the home’s purchase price and cover fees like appraisals, title insurance, and loan processing.

PMI is insurance for the lender if you put less than 20% down on a home. It can be removed once you build enough equity.

With Ruoff Mortgage, the average time from application to clear to close is just 15 days.* That means from the moment you apply to the moment you're ready to close, the process can move quickly and efficiently. 

Yes, you can buy a home while paying off student loans, even with significant debt, as long as you meet credit, income, and debt-to-income (DTI) requirements. Ruoff Mortgage assesses your total monthly payments, not just the total loan balance, to determine affordability. 

You will generally need to provide proof of income (pay stubs, W-2s), two months of bank statements, tax returns (if self-employed), and a photo ID. These documents verify your financial standing for pre-approval.

Using the equity you have in your home, cash-out refinancing allows you to take out a new mortgage for more than you owe and receive the difference in cash to use for expenses like home improvements or paying off debt.

To determine how much mortgage you can afford, use the Ruoff Mortgage Affordability Calculator, which estimates your maximum home price based on income, debt, and down payment. Generally, lenders recommend keeping your total monthly housing payment (principal, interest, taxes, insurance) between 25% and 36% of your income.

Your monthly mortgage payment typically consists of PITI: Principal, Interest, Taxes, and Insurance. This combined payment often includes an escrow account to manage property taxes and homeowner's insurance, along with potential mortgage insurance, ensuring your payments are simplified and covered.