LOAN PROGRAMS
Conventional loans are any mortgage loan that is not insured or guaranteed by the government. They can be conforming or non comforming. These loans can be fixed or have adjustable interest rates and repayment terms that are flexible and tailored to your needs. There are downpayments options as low as 3% down for qualified borrowers.
A USDA home loan is a government backed, zero down payment mortgage for homebuyers in eligible towns and rural areas. This program assists low-income buyers an opportunity to purchase a home.
An FHA Loan is a government backed mortgage insured by the Federal Housing Administration. FHA home loans require lower minimum credit scores and down payments as low as 3.5% for qualified buyers, which makes them especially popular with first time home buyers.
A jumbo loan is a mortgage used to finance properties that are too expensive for a conventional conforming loan. The maximum amount for a conforming loan in 2023 is $726,200 in most counties, as determined by the Federal Housing Finance Agency (FHFA).
A VA loan is a $0 down mortgage option issued by private lenders and partially backed, or guaranteed, by the Department of Veterans Affairs (VA). Servicemembers, Veterans, and eligible surviving spouses can use these benefits to buy, build, repair, retain or adapt a home for our own personal occupancy.
A Construccion-to-Permanent loan allows you to shop for just one loan when building a new home. It covers the financing during the building process and then transitions into a permanent loan once construction is complete, saving you the additional time and closing costs of two separate loans.
A bank statement program is a home loan program that uses bank statements to calculate a borrower's income. This is an alternative documentation loan type instead of using tax returns and W-2s in the qualification process.
DSCR or Debt-Service Coverage Ratio loans enable real estate investors to qualify based on rental income generated rather than personal income.
An ITIN is a nine-digit number used as a tracking number by the U.S. Internal Service Revenue (IRS) that is used to obtain a loan when one does not have a social security number or green card.
A Fix & Flip loan is a short-term, high-interest loan that covers the cost of buying the property and making the repairs. With this type of loan, it may be possible to buy “fixer-upper” properties, also called distressed properties.
A Foreign National Loan Program is a special type of loan that helps noncitizens buy investment property in the United States.
Hard money loans, also called bridge loans, are short-term loans commonly used by investors, such as house flippers or developers who renovate properties to sell. Hard money loans might also be a solution if facing foreclosure.
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