Global Funding Programs
VA - Conforming and High Balance - We can go down to a 600 Credit Score
VA guaranteed loans are made to eligible veterans for the purchase of a home, which must be for their own personal occupancy and provided veterans with a federally guaranteed home with no down payment. This was designed to provide housing and assistance for veterans and their families, and the dream of home ownership became a reality for millions of veterans.
FHA - Conforming and High Balance - We can go down to a 560 Credit Score
The FHA (Federal Housing Administration) has been in existence since 1934 and insured over 37 million mortgages. The FHA is the largest government insurer of home loans in the world today. FHA Loans have become so popular in today's lending climate because they can be much more accommodating than other mortgages, with down payments as low as 3.5%, but they do contain specific credit, income and property criteria for a mortgage to get approved.
Conventional - Conforming and High Balance
A conventional loan is any mortgage that is not guaranteed or insured by the federal government. Conforming conventional loans are referring to a mortgage loans that follow the guidelines of government sponsored enterprises (GSE's) like Fannie Mae or Freddie Mac.
A USDA loan (also called a Rural Development Loan) is a government insured home loan that allows you purchase a home with no Money Down and allow for all closing costs to be either paid for by the seller or financed into the loan. USDA Loans require no monthly Mortgage Insurance, or “PMI”. In order to qualify for a USDA Loan your home must be located in a designated USDA rural area. You can check the USDA eligibility of your county.
A reverse mortgage enables older homeowners (62+) to convert part of the equity in their homes into tax-free cash without having to sell the home, give up title, or take on a new monthly mortgage payment. The reverse mortgage is aptly named because the payment stream is "reversed." Instead of making monthly payments to a lender, as with a regular mortgage, a lender makes payments to you. You can learn a little more about this program just by reviewing so of the common questions listed below.
The FHA 203(k) loan is the Federal Housing Administration's rehab loan product designed for individuals who want to rehabilitate or repair a damaged home so they can live in it as their primary residence. FHA 203(k) loans are endorsed by the government to encourage lending on what would otherwise be considered a risky loan product.
Jumbo to 2 Million
Home loans up to 2 million for either refinance or a home purchase.
HomePath Mortgage is a product from Fannie Mae that is designed to help sell mortgage-ready Fannie Mae owned homes. Only mortgage-ready HomePath homes are eligible for this exclusive mortgage program. Find eligible properties by visiting HomePath.com.
A hard money loan is a specific type of loan where qualifying for the loan is based more on the equity of the home then the credit worthiness of the borrowers. Hard money loans are typically issued at much higher interest rates than conventional loans. Hard money loans maybe the only option for a distressed financial situation, such as being behind on existing mortgage, or where bankruptcy and foreclosure proceedings are occurring.
Commercial 5 - 8 Units
Loans on real estate with more than 4 units are considered commercial. We can lend on real estate up to 8 units.