There are many types of home loans to choose from
GET THE MORTGAGE THAT FITS YOUR NEEDS
Adjustable Rate Mortgage (ARM)
An adjustable rate mortgage may be good for you if you plan to sell or refinance you home within the initial fixed-rate period, typically, seven years.
Highlights of Adjustable Rate Mortgage Loans:
- Lower initial monthly payments
- Borrowers who don’t plan on living in one place for long
- Fluctuating rates and payments
Bridge Loan
A bridge loan could help you buy a new home before selling your current one by providing short-term financing to cover the gap.
Highlights of Bridge Loans:
- No need for contingent offers
- Fast access to funds
- Smooth transition between homes
Condo Loans
If you’re planning to purchase a condominium. A condo loan could be good for you.
Highlights of Condo Loans:
- Lower initial monthly payments
- Option for borrowers who don’t plan on living in one place for long
- Fluctuating rates and payments
Conventional Loans
If you have good credit and steady income, a conventional loan could be good for you.
Highlights of Conventional Loans:
- Variety of down payment solutions from 3%-20%
- Mortgage insurance flexibility
- Less restrictive property guidelines
Fannie Mae Homeready
If you need a low down payment, flexible credit requirements, and reduced mortgage insurance costs.
Highlights of Fannie Mae Homeready Loans:
- Low down payment options starting at 3%
- More flexible credit requirements
- Reduced mortgage insurance costs compared to other loans
FHA Loans
An FHA loan could be a good option if you have a lower credit score, smaller down payment, or higher debt-to-income ratio.
Highlights of FHA Loans:
- Low down payment of 3.5%
- Flexible income and credit requirements
- Use of gift funds and grants as source of down payment
Freddie Mac Home Possible
Freddie Mac Home Possible offers low down payments and flexible terms for affordable homeownership.
Highlights of Freddie Mac Home Possible Loans:
- Down payment as little as 3%
- Flexible credit requirements
- Refinancing options for existing homeowners
Home Equity Loans
If you need to borrow money against your home, a second mortgage, or home equity loan, could give you access to funds you need.
Home Equity Loan options include:
- Piggyback (80-15-5) Loans
- Home Equity Line of Credit (HELOC)
Jumbo Loans
A jumbo loan could be good for you if you have good credit but don’t have enough funds to bring the home loan amount under the conforming loan limit.
Highlights of Jumbo Loans:
- Ability to purchase more home
- Higher purchase limits
- Available for primary, second homes or investment properties
New Construction Loans
If you want the flexibility to customize your home from the ground up, a new construction loan with one-time closing could be good for you.
Highlights of New Construction Loans:
- One closing for lot acquisition and construction
- Primary residences only
- Variety of construction loan products
Non-QM Loans
If you do not meet the traditional mortgage loan requirements, a non-qm loan could help you attain homeownership.
Highlights of Non-QM Loans:
- Less stringent income documentation
- Lower credit options
- Flexible income source requirements
Refinance
If you have a mortgage, you may want to refinance it at some point in the future to meet a variety of personal and financial needs.
Highlights of Refinancing:
- Lower your mortgage payments
- Consolidate your debt
- Cash-out on your equity
- Keep payments from rising
Renovation Loans
A renovation loan could be good for you if you want to make improvements to a home.
Highlights of Renovation Loans:
- Renovation costs can be wrapped into home loan
- Options for minor and major renovation
USDA Loans
If you are looking to purchase a home in a rural area, a USDA home could be right for you. This program helps eligible low-to-moderate-income families achieve homeownership by offering 100% financing.
Highlights of USDA Loans:
- $0 down payment
- Lower credit requirements
- Use of gift funds and grants as source of down payment
VA Loans
VA loans provide affordable homeownership options to eligible service members, Veterans, and surviving spouses.
Highlights of VA Loans:
- 100% financing with full VA entitlement
- No private mortgage insurance
- Fixed, adjustable-rate, and refinance options available
Go Direct FHA 100 Mortgage Financing
The Go Direct FHA 100 allows qualified buyers to finance 100% of a home purchase
by adding a second lien to a standard FHA loan to cover the typical 3.5% down payment.
Highlights of the Go Direct FHA 100 Loan:
0% Down Payment
Standard FHA Guidelines
Second Lien Financing
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