Home Loan Programs
Conventional Loans
Conventional Loans are mortgage loans that are not insured by the government (like FHA, VA, USDA Loans), but they typically meet the lending guidelines that have been set by Fannie Mae or Freddie Mac. Typically, conventional loans have better rates, terms and/or lower fees than other types of loans. However, conventional loans typically require a borrower to have good-to-excellent credit, reasonable amounts of monthly debt obligations, a down payment of 5-20% and reliable monthly income. Conventional loans are ideal for borrowers with excellent credit and at least a 5% down payment.
FHA Loans
It's easy to understand why many people looking for a new home are turning to FHA insured loan programs. Because FHA Loans are insured by the Federal Housing Administration homebuyers have an easier time qualifying for a mortgage. Those who typically benefit most by an FHA loan are first-time home buyers and those who have less than perfect credit.
USDA Loans
A USDA Loan is a mortgage loan that is insured by the US Department of Agriculture and available to qualified individuals who are purchasing or refinancing their home loan in an area that is not considered a major metropolitan area by USDA.
VA Loans
A VA loan is a mortgage loan guaranteed by the U.S. Department of Veteran Affairs (VA) that is available to most US service members. It offers some very great benefits to those that have served our country.
DSCR Loans
A DSCR loan is a mortgage program designed for real estate investors that allows qualification based on the rental income of the property rather than personal income or tax returns. DSCR loans are ideal for investors looking to purchase or refinance rental properties with flexible documentation requirements and investor-friendly guidelines.
Non-QM Loans
A Non-QM loan is a flexible mortgage solution designed for borrowers who may not qualify under traditional lending guidelines. These programs are ideal for self-employed borrowers, business owners, freelancers, real estate investors, and clients using alternative income documentation such as bank statements or 1099 income.
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