Flexible Loan Programs
If you’ve always dreamed of owning your own home but thought it was out of reach financially—think again! With today’s wide range of loan options and flexible financing programs, homeownership may be more achievable than you realize.
Step 1
Check Eligibility
Step 2
Payment Option
Step 3
Get Approved
Step 4
Close the Loan
Step 5
Repayment & Loan Terms
Discover the loan program that’s the best fit for you.
Our mortgage programs for home-buyers can help make your dream a reality. We offer a variety of home loans to fit your lifestyle, including low or zero down payment loan options. And all first-time home-buyers who finance their home
To help determine the best loan program for you, consider the following
Loan Programs
Agency
Government Insured
Non-Agency
Commercial
Private Loans
Reverse Mortgage
Frequently Asked Questions (FAQs)
Thinking about Purchasing a Property?
When you want to purchase a new home, a “First Mortgage” is created. This mortgage can cover up to the full price of the home, sometimes more for Homepath renovation loan. However typically you will have to have money to put down. Some buyers can purchase a new home with low down payments on FHA and VA loans
Want to Refinance?
People usually Refinance their current mortgage(s) to get a lower interest rate or borrow more money. You can refinance the existing loan amount in most cases, or take cash out up to 85% of your homes value.
Home Improvement Loans
Any of the above three types of loans could be used here, but you are simply stating that you will be using the funds to improve the home.
Debt Consolidation to Lower Monthly Payment
Because Mortgage Rates are usually 2 to 3 times lower than Interest Rates of Small Bank Loans, Credit Cards, etc., many people choose to pay off all their bills with funds from a mortgage. This can be a very wise move as it not only relieve you of the multitude of monthly bills, but the accruing high interest rates on many small loans is very expensive in the long run.
Home Equity Line of Credit "HELOC" or Second Mortgages
A “Second Mortgage” can be taken out on your existing home against the “equity” you currently have. Some lenders will allow you to use 100% of your homes current value to determine equity, but 90% is common, and 80% is required for the best rates (closest to first mortgage rates). Thus, on a 200,000 home, if you owe 100,000 on your First Mortgage, you could borrow up to $100,000. Rates are usually a bit higher than first mortgages. Since this is a second mortgage, it is a bit more risky than a first mortgage for the lender, thus the interest rate is higher. If something were to happen, the first mortgage lender would be paid first.
Housing Authorities
One size loan does not fit all. Good credit or not-so-good credit, we can find you a loan. Whether it’s a purchase, re-finance, or construction loan, we have the most comprehensive loan products on the market for you to choose from that fit your individual needs.
We’ve highlighted the programs more commonly offered today. Characteristics of each loan program are unique, so consult us for more information and to become familiar with the details of the programs available to you.
To help determine the best loan program for you, consider the following:
- How important is payment certainty?
If knowing that your payment will be the same every month is important, consider a fixed-rate mortgage. - How important is rapid equity buildup?
If rapid equity buildup is a factor, consider a shorter amortization period, such as a 15-year, fixed-rate mortgage. - Do you anticipate increasing or stable income?
If income growth is anticipated, you could take advantage of a lower start rate on an ARM or a temporary buydown. - Other factors to consider include:
- ability to qualify at market rates for loan amount selected
- anticipated term of occupancy
- possibility of significant rate changes
- existence of up-front costs