Available Home Loan Options
Conventional Loans
Fixed and ARM’s
- Max LTV (loan to value) on conventional loans is up to 97% for fixed loans, 95% LTV on ARM’s (adjustable rate mortgage)
- Down payment can be all gifted on purchases when using a conventional loan to buy your home
- Non occupying co-borrower’s allowed with a conventional loan
- Fannie Mae HomeReady and Freddie Mac Home Possible
FHA Loans
- 3.5% Down (96.5% LTV)
- Gifts allowed
- HUD $100 Down program for eligible properties
- Manual underwrite available for certain scenarios
- Credit scores as low as 500
Renovation Loans
Conventional Loans and 203k (FHA)
- Combine purchase price with renovation costs
- Renovation costs limited to 50% of estimated future value of the home
- Appliances and luxury items can be included in most cases
VA Loans
- The best VA loan terms in the industry!
- VA purchases
- VA jumbo loans over $1 million
- VA funding fee waived if veteran is disabled (no minimum percentage)
Construction Loans
- As little as 10% down (90% LTV)
- One time close
- Construction period up to 12 months
- Tear Down and rebuild is permitted
Investment Property Loans
Conventional Loans & Conventional Renovation
- Up to 10 properties per borrower
- Market rent used as income for subject property even if subject in not rented
Second or Vacation Home Loans
- No rate bump. Same rate as primary residence
- As little as 10% down (90% LTV)
Doctor Program
- Future employment contract used as income
- Eligible borrowers include medical residents as well as new and established doctors
USDA Loans
- 100% financing, zero down payment
- Property must be in a USDA eligible location
- Buyer must meet income and credit guidelines