Loan Programs

Conventional fixed-rate loans are a widely chosen mortgage option, featuring a stable interest rate for the entire duration of the loan. This means monthly payments generally remain unchanged. Although a 20% down payment has traditionally been the norm, it is not always necessary. Reach out to us for more information on available down payment options. Loan terms typically come in 10, 15, 30, and 40-year durations.

FHA (Federal Housing Administration) loans are mortgages insured by the government, created to help individuals with low to moderate incomes and imperfect credit achieve homeownership. These loans provide advantages like reduced down payment requirements, favorable interest rates, and more lenient eligibility standards, including lower credit score thresholds. Widely chosen by first-time homebuyers, FHA loans offer a reliable alternative for those who may not meet the criteria for conventional financing.

VA (Veterans Affairs) loans are home financing options created to support eligible U.S. veterans, active-duty military personnel, and certain members of the National Guard and Reserves in purchasing a home. Guaranteed by the U.S. Department of Veterans Affairs, these loans offer significant benefits such as no required down payment, competitive interest rates, and more lenient credit score requirements. VA loans also typically come with reduced closing costs, making them a valuable and accessible option for veterans and their families seeking homeownership.

USDA (United States Department of Agriculture) loans are government-insured mortgage programs designed to encourage homeownership in rural and suburban communities. They offer key advantages like no down payment, favorable interest rates, and relaxed credit guidelines, making them a cost-effective choice for low to moderate-income individuals and families in qualifying areas. Often known as Rural Development loans, USDA loans help eligible borrowers achieve homeownership by meeting specific income and geographic criteria.

Jumbo loans are mortgage loans intended for financing high-priced homes that go beyond the loan limits established by government-sponsored entities such as Fannie Mae and Freddie Mac. These loans provide the opportunity to purchase luxury properties with competitive rates and terms, primarily targeting borrowers who have excellent credit and the ability to make significant down payments. Due to their size, jumbo loans usually come with higher down payment requirements and more rigorous credit standards, making them ideal for wealthy buyers and real estate investors pursuing premium properties.

Reverse mortgage loans, also referred to as reverse equity loans, are available exclusively to homeowners aged 62 and older. As the name suggests, this type of loan provides the homeowner with either a lump-sum payment or monthly installments. When the loan term ends, the property either transfers to the lender or can be sold to repay the outstanding balance. Reverse mortgage loans offer a valuable solution for seniors seeking to supplement their income while continuing to live in their homes. Feel free to contact us for more information.

DSCR (Debt Service Coverage Ratio) loans are specialized loan products commonly used for commercial real estate and investment properties. Instead of evaluating the borrower’s personal income, these loans emphasize the property's ability to produce enough income to cover its debt obligations. By focusing on cash flow, DSCR loans offer a customized and flexible financing solution for real estate investors, making them especially useful for income-generating properties and development projects.

Construction loans are temporary financing solutions intended to support the building or renovation of residential or commercial properties. These loans disburse funds in phases as the construction advances, helping to ease financial strain during the development process. After the project is finished, construction loans are usually transitioned into standard mortgage loans, enabling borrowers to begin making regular principal and interest payments on the completed property.

Non-QM (Non-Qualified Mortgage) loans are mortgage options that fall outside the standard requirements established by government-backed entities like Fannie Mae and Freddie Mac. These loans are often intended for borrowers who don't meet conventional lending standards, such as individuals with alternative income sources or past credit challenges. With more flexible underwriting guidelines, Non-QM loans expand access to homeownership by offering alternatives to traditional mortgage programs.

Bank Statement Loans provide a flexible financing option for self-employed individuals or those with unconventional income sources. Rather than relying on tax returns, these loans use bank deposit records to verify income, making them well-suited for freelancers and small business owners. Offering competitive interest rates, they present a customized route to achieving homeownership.

Home Refinance Loans, often known as refinancing, involve replacing an existing mortgage with a new one, typically with different interest rates or terms. Many homeowners choose to refinance to reduce their monthly payments, obtain a lower interest rate, or access the equity in their home for other financial needs. There are different types of refinancing, including rate-and-term refinancing, which aims to improve loan conditions, and cash-out refinancing, which lets borrowers draw from their home’s equity. The refinancing process generally includes a credit evaluation, home appraisal, and review of the borrower’s financial situation to determine qualification and potential benefits.

Keep in mind that in some cases, refinancing could result in higher total finance charges over the life of the loan.

Foreign national loans are mortgage programs specifically designed for individuals who are neither U.S. citizens nor permanent residents but are interested in purchasing property within the United States. These loans offer a pathway for foreign investors, expatriates, and those seeking vacation homes to access the U.S. real estate market. Lenders often require larger down payments and may enforce stricter credit and income documentation for foreign national borrowers. These loans serve as a valuable opportunity for non-U.S. residents to invest in American real estate and expand their investment portfolios.

Commercial loans are financing solutions created to help businesses meet a range of needs, including purchasing property, funding expansion, or covering working capital. These loans generally provide larger amounts and extended repayment periods compared to personal loans. They come in various forms, such as real estate loans, equipment financing, and lines of credit, each customized to align with the unique financial goals and requirements of the business.