A conventional home loan is an effective home loan option for homebuyers with a competent credit score (lowest being 630 on average), limited debt-to-income ratio (DTI - 〱43%), and a minimal down payment (at least 3% of the home's purchase price) at the time of closing.
Down Payment: Minimum Of 5% Down Payment Needed
Loan Terms: Mortgage Terms Of 8-30 Years Are Available
Rate Optons: Either Fixed-Rate Or Adjustable-Rate Mortgages Are Optional
Private Mortgage Insurance (PMI): Required (Unless a down payment of at least 20% is secured.)
Due to government backing (HUD) being in place to bolster the home loaning process, obtaining a home loan through FHA financing is often best for would-be homeowners who lack an abundance of capital to set aside for a down payment of a home's eventual purchase.
Down Payment: Minimum Of 5% Down Payment Needed
Loan Terms: Mortgage Terms Of 15-30 Years Are Available
Rate Optons: Either Fixed-Rate Or Adjustable-Rate Mortgages Are Applicable
Private Mortgage Insurance (PMI): Required (Unless MIP/UFMIP or Mortgage Insurance Premium is active.)
Reciprocating a home purchasing opportunity in the form of a VA home loan to our armed forces (and their qualified kin) is a milestone venture that nearly every practitioner in the home buying/selling industry can wholeheartedly appreciate; if not actively endorse outright.
Down Payment: No Down Payments Are Necessary To Qualify
Loan Terms: Mortgage Terms Of 30 Years Are Available
Rate Optons: Only Fixed-Rate Mortgages Are Applicable
Private Mortgage Insurance (PMI): Optional (VA Home Loans forgo the need for PMI, MIP, or UFMIP.)
The Home Affordable Refinance Program (HARP) that enabled purchase options for homebuyers who lacked qualifying equity in their home for alternative financing was concluded on the last calendar day of 2018 (December 31st) and since been replaced by Fannie Mae’s home loan program: High LTV Refinance Option (HIRO).
Taking advantage of reduced monthly principal costs and lowering interest rates are but a couple of the many inherent benefits that many homebuyers receive through the loaning options of the Homeowner Affordability and Stability Plan, or simply HASP loans for a shortened reference.
When determining what home loan is ideal for a particular homebuyer, it can be prudent to consider HomePath lending; of which is included under the umbrella of Fannie Mae (one of the nation’s leading mortgage lenders) and the home loan programs they actively promote and endorse.
A rural housing loan, also known as an USDA home loan, offers prospective homebuyers who are seeking property in an area with fewer than 50,000 residents an avenue to pursue a property purchase under favorable mortgage conditions: optional down payment, flexible qualifiers, and no pre-payment penalization.
Determining whether a fixed-rate or adjustable-rate mortgage is advantageous or not is largely contingent on the preferences of the individual homebuyer. However, most home loans (USDA, Conventional, FHA, & VA to list the most popular) often afford mortgage rate flexibility that feature either adjustable-rates or fixed-rates, depending on qualifications, loan amount, and lending history.
Many investment homes, large-scale properties (mansions, estates, etc), and vacation residences can exceed the lending limits of major mortgage lenders (Fannie Mae & Freddie Mac, respectively) and thus require financing through loan options that are not as restricted as with conforming home loans.
Enjoying the freedom of dictating the term parameters (such as the amount being paid each month as well as the duration of those monthly payments) and financial obligations that surround a home mortgage/loan is an aspiration that most any homebuyer can appreciate; regardless of property size or loan status.
98% OF OUR CUSTOMERS RECOMMEND US
We shopped around for the lowest rate to refinance our current mortgage and no one could beat them.Our experience from beginning to end was outstanding!
I have never experienced a loan process that went so smoothly (this is my fourth). The team were amazing! They gave me the lowest rate among three lenders that I spoke with, they were always available and very friendly and I had communication with them throughout the entire process, they always kept me up-to-date with the file and everything went very smooth, even with some credit issues I have. And the loan was completed before we were scheduled to close so we were able to close early. I have a friend who used another lender at the same time and she went through so many hassles and had to extend their closing. Next time she’ll use them also have a much better experience. Thank you!
From top to bottom our refinance with them was flawless. They was able to provide the best rate of anyone else we checked with, we were able to skip 2 mortgage payments, lower our monthly payment by almost 10%, and even walked out of closing with cash. We would highly recommend them to anyone looking for a new home loan or a refinance.
They work hard to get you the best interest rate and they have really low fees. That's first. But they also are great to work with, friendly and professional, and gets back to you in a timely fashion. I've purchased many properties and two now with them. I would recommend them to anyone and everyone.
They were perfect to work with every step of the way. They helped me find the right loan product for my situation and kept me informed with each and every step of the process. They made sure everything was in place and there were never any surprises, I loved the communication - they are definitely on top of it. They helped make this a painless process and my loan closed in a very timely manner. I would recommend them for any of your loan needs and I know they will find the best solutions for your situation.
Their team are THE BEST!! They went out of their way to make sure I was always taken care of. They gave me the lowest interest rate of any lender I met with and after my loan was already approved they found me a BETTER rate. They just kept looking even after the deal was done and they had no reason to, they lowered my rate and surprised me with a lower payment. Who does that?!? And their team was so friendly and professional they just made the whole process great. I will tell everyone I know to use their team every chance I get- Thank you!!!
They are a great team of loan officers who helped me buy a new house last summer. Their team was always quick to answer my questions and was very knowledgeable. I would highly recommend them to anyone looking for a new team of loan officers. Their friendly and outgoing personality make them a delight to work with.
I've had the pleasure of working with them twice for a new loan origination and a refinance. Both instances they completely exceeded my expectations. On our original loan, we were looking for our first home while my wife was pregnant with our first child. It is generally an extremely challenging time to look for a home and go through your first loan process, but they made the experience pleasant and easy as they are exceptional on their knowledge and follow-up. When we were ready to do a refinance we went through them again and it was a very easy low stress process that ended up saving us a lot of money. I am very happy to recommend them in the highest regard, they are exceptional at what they do and are a pleasure to work with. Thanks!
They helped my husband and I purchase our first new home. They were fantastic, with lightning quick responses and willingness to work around our schedule. In addition, they made the process super easy, from pre-qualification to closing. We would recommend their team to anyone looking to purchase a new home!
Our team of mortgage professionals are licensed in multiple states to give you the best rates and mortgage experience possible.