Loan Programs Hand-Picked For Your Goals
Finding the right loan program for you can seem like a huge undertaking. By using a licensed, experienced loan officer, you can avoid the hassle and get customized options that fit your short- and long-term goals.
Choose the tile that best describes your situation
To Help You Get Started
If you’re a first-time buyer…
You likely have many questions about the process, your options, and how a mortgage will play into your long-term wealth building plans.
If you’re a seasoned home owner…
You likely need to strategize selling one property before you can buy another. With the equity of a current home, you likely have more options to leverage in your purchase.
If you want investment property…
Whether you’re new to investment property or want to expand an existing portfolio, we can help you find the right loan options to optimize your investment.
If you want to make cash available…
You likely want to understand how leveraging the available equity in your home can be done.
If you’re scared of the current market…
Your fear isn’t uncommon! Taking the leap of homeownership is scary, but we’ll be there with you.
If you already found the perfect house…
You probably want to get moving! We can help you get the paperwork you need to get that dream home.
Conventional Loans
A conventional mortgage loan is not directly insured by a government program. In general, Conventional loans have more strict credit requirements than FHA and VA making them an excellent choice for those with strong credit histories and stable financial situations. Conventional loans are available to first time homebuyers with as little as 3% down. Mortgage insurance can be eliminated with a down payment of 20% or more.
FHA Home Loans
FHA mortgages are insured by the Federal Housing Administration (FHA), and is therefore known as a government loan. They have for more lenient borrowing guidelines than conventional loans. For example, you can have a credit score as low as 580 with as little as 3.5% for a down payment.
VA Home Loans
VA mortgages are insured by the Department of Veterans Affairs (VA) and, like FHA is known as a government loan. They were created to help the great men and women who have served our country. A VA loan is a top benefit of military service available to eligible veterans, active service members, qualified surviving spouses and reservists. VA loans historically offer lower interest rates, low or no down payment and have no monthly mortgage insurance.
Reverse Mortgages
A reverse mortgage is a type of loan that allows homeowners who are 62 years or older to borrow against the equity in their home. Unlike a traditional mortgage loan, the lender makes payments to the borrower instead of the borrower making payments to the lender. The loan first pays off the existing mortgage, if there is one, and then the remaining funds can be used for anything the borrower wants.
Jumbo Loans
A jumbo loan is a mortgage used to finance properties that are too expensive for a regular Conventional loan. Homes that exceed the local conforming loan limit require a jumbo loan, typically loan of $750,000 and up. Also called non-conforming conventional mortgages, jumbo loans are considered riskier for the lender. They require higher credit scores and strong financial profiles. Down payment requirements vary but are not less than 10.1%.
Home Equity Loans
HELOC (Home Equity Line of Credit) is a revolving line of credit that is secured by the equity in a home you own. It allows you, the homeowner, to borrow against the equity you have built up in your home for various purposes such as home improvements or debt consolidation. You can withdraw funds as needed, up to the predetermined limit, and only pay interest on the amount that’s been borrowed.
DSCR Loans
DSCR loans are based on the property's rental income. The lender is more interested in the property's ability to generate income to pay off the loan rather than the borrower's qualification, therefore, no income documentation is required. DSCR (Debt Service Coverage Ratio) loans require enough rental income to offset the payment. DSCR loans have credit score minimum requirements and significantly larger down payments of 15% or more. Loan and property guidelines vary greatly from one lender to the next.
FAQs
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Not a problem! We can connect you with a realtor partner that can help you find the dream property. Getting started on your mortgage process can be done separately from the home search. In fact, we recommend getting your pre-approval letter done before you start looking to make sure you can lay claim to that ideal property.
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The standard valid time for a pre-approval letter is 90 days, however that timeline can change based on lender and loan program. Let’s talk about your home shopping process to help strategize your tactics.
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Closing timelines depend on dozens of variables, but generally, we can expect a loan to close in around 30 days, if no large hurdles come up in the process.
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You’re not alone! Many home shoppers need to get out of one mortgage before they can start the next. We have strategies and even entire loan programs that can bridge the gap between homes to make your life easier.
