There are many aspects to fully qualifying that could change a borrower’s ability to qualify for a mortgage. Since loan programs vary between credit, debt and down payment requirements, borrowers should get pre-qualified for each loan type they qualify for and are considering.īeing pre-qualified is only a limited analysis and doesn’t hold a lot of weight when it comes to negotiating a contract or reassuring a seller. Once a lender has gathered basic information about a borrower’s income and debts, an opinion can be made as to how much the borrower should qualify for in purchasing a house. Pre-qualification starts the loan process. In many cases the downpayment doesn’t have to be These funds can be made available through government and state housingĪgency programs or private organizations. Homebuyers with access to large sums of money through grants or loans to use as aĭownpayment. Looking for a little help in getting into a new home? Down payment assistance programs help Interest-only mortgages or limited/alternative documentation loans. Non QM LoanĪre you an entrepreneur or have irregular income? For homebuyers with non-traditional orĬomplex tax returns, a Non-QM loan is a great option. Requirement, eligibility to close as an LLC and a competitive interest rate. Backed by Security National Life (SNL), this loan features no income documentation Ready to invest in your next property? Look no further than our exclusive SNL Direct portfolio Looking to own a home for a shorter period of time. This type of loan might also be a good option for you if you are ARMs feature lower interest rates, but the interest rate can change (or adjust)Īfter a fixed amount of time. Not quite ready to lock in a long-term fixed rate? An adjustable rate mortgage might be a good Reverse mortgages today are called HECMs, short for Home Equity Conversion Mortgage. Mortgage payments can be received monthly, in a lump sum or through a line of credit. Mortgage is available to homeowners age 62 and older with equity in their homes. Get money from your lender instead of making monthly payments to your lender. This is a good loan option for lower income homebuyers and first-time homebuyers in Home buyers, USDA loans feature no down payment options and generally favorable interest Programs to rural home buyers who meet USDA’s income eligibility requirements. Move away from the city and purchase a home with no down payment. Payment, a jumbo loan might be right for you. ![]() Purchasing homes that exceed conforming limits. ![]() Make the move into your dream home! Jumbo loans provide a great option for home buyers We’re always pleased to help those who serve our country get into a home! Jumbo Loan Benefits include less-restrictive credit guidelines and lower down payment VA loans offer special benefits to current members of the military, veterans and eligible Looking to buy a home for the first time, an FHA loan might be a good option for you. Are you a first-time homebuyer? If you’re Scores, and down payment options as low as 3.5%. Use our refinance calculator to see if a refinance could save youĪchieve your dream of home ownership with an FHA loan! These loans allow for lower credit Get a better interest rate, lower monthly payments, shorten the term of your mortgage or takeĬash out of your home equity. Home loan if you plan on staying in your home for more than 5-10 years, have good credit and a Peace of mind knowing your housing budget will remain steady. Lock in that interest rate for the long haul! With a fixed rate mortgage, you can count onĬonsistent principal and interest mortgage payments for the duration of the loan, and enjoy ![]() Loan Options Conventional Fixed Rate Mortgage
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |