tailored loan types
FHA Loans – An FHA insured loan is a US Federal Housing Administration mortgage insurance backed mortgage loan that is provided by an FHA-approved lender. this type of loan is more geared towards new house owners.
Conventional Loans – A conventional loan is a mortgage loan that’s not backed by a government agency. These loans come in all shapes and sizes, conventional loans remain the most common type of mortgage loan.
Jumbo Loans – A jumbo loan, also known as a non-conforming loan, means any home loan for amounts higher than $726,200. The main difference between jumbo loans and conforming loans is the interest rate. Because jumbo loans are riskier for lenders they usually have higher rates. We are ready to assist with your mortgage financing needs.
VA Loans – A VA loan is a mortgage loan that is guaranteed by the United States Department of Veterans Affairs (VA). The program is for American veterans, military members currently serving in the U.S. military, reservists and select surviving spouses (provided they do not remarry) and can be used to purchase single-family homes, condominiums, multi-unit properties, manufactured homes and new construction. The VA does not originate loans, but sets the rules for who may qualify, issues minimum guidelines and requirements under which mortgages may be offered and financially guarantees loans that qualify under the program. Contact us for more info.
Adjustable Rate Mortgage – Adjustable-rate mortgages (ARMs), also known as variable-rate mortgages, have an interest rate that may change periodically depending on changes in a corresponding financial index that’s associated with the loan.
Non-Qualified Loans – non- qualified loan , or A non-conforming loan is a loan that doesn’t meet Fannie Mae and Freddie Mac’s standards for purchase. Fannie Mae and Freddie Mac are government-sponsored enterprises that invest in mortgage loans. The rules for what types of mortgages Fannie Mae and Freddie Mac can buy come from the Federal Housing Finance Agency (FHFA). There are two main reasons why a loan might not conform: it doesn’t meet a requirement set by the FHFA, or the loan is too large to be considered a conforming loan.