LOAN OPTIONS 

PURCHASE

Mortgage loan programs are always changing and evolving to reflect current market conditions. As a licensed mortgage loan specialist I will be able to help you determine which program is best for you.

The following information will give you an overview of the many different types of home loan programs that exist and the chance to consider which one is right for you. Each home loan program is unique and has various requirements that are related to the borrower and to the property. As your mortgage loan specialist, I will be able to further assist and give you the information you need about home loan programs available to you.

REFINANCE

Refinancing your home is the process of paying off any existing mortgages on a home with a new mortgage loan.

 

Many homeowners choose to refinance as a method to help them meet their goals. Some benefits of refinancing your home may include getting extra cash for any expenses you have, shortening your mortgage term and closing in on a lower mortgage rate.  Contact me to discuss the many other benefits of refinancing.

PURCHASE LOAN OPTIONS​

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FIXED RATE

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ADJUSTABLE RATE

Adjustable Rate loans begin with a set interest rate but once that initial period has passed, rates will vary according to market trends.

Fixed Rate loans offer home buyers the ability to maintain the same rate and payment throughout the life of their loan.

JUMBO LOAN

Jumbo loans are loans for a home that is priced higher than loan limits set in place by Fannie Mae or Freddie Mac. In most of the U.S., the Jumbo loan limit is $424,100.

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USDA LOAN

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FHA LOAN

FHA loans are insured by the Federal Housing Administration and require mortgage insurance. These loans usually offer lower down payment options and less strict credit score requirements.

U.S. Department of Agriculture loans  offered to home buyers purchasing a home in rural developments.are

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VA LOAN

The VA loan is a home-mortgage option available to American Veterans and their families. No PMI or down payment is required in order to obtain a VA loan.

RENOVATION LOAN

Renovation loans allow buyers to borrow based on what the house is expected to be worth after the home has been repaired or renovated.

2 MAJOR TYPES OF REFINANCE MORTGAGES

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RATE AND TERM REFINANCE

With this refinance option, the rate and term of your loan are the only changes that occur.

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CASH OUT REFINANCE

This type of refinance option allows homeowners to increase the amount that they are borrowing by pulling from the current equity in their home and taking out the difference in cash.