Our full-time job is to find our clients the best loan option whether that’s a fixed or adjustable rate and always tailored to our client’s needs. We want to understand our homebuyer’s ideal situation, so we can recommend the best and strongest loan to support their purchase.
We offer a variety of types of loans including:
The Federal Housing Administration (FHA) runs several programs to promote home ownership. In most cases, FHA loans are mortgages obtained with the help of the FHA. With a small down payment, buyers can purchase a home. FHA loans make it easier for people to qualify for a mortgage, but they’re not for everybody. An FHA loan is a loan insured against default by the FHA. In other words, the FHA guarantees that a lender won’t have to write off a loan if the borrower defaults – the FHA will pay. Because of this guarantee, lenders are willing to accept a lower down payment.
Banks and other private mortgage companies make a special type of home loan to veterans of the US Armed Services. A portion of each loan is guaranteed by the Veterans Administration (VA), and protects the lender’s investment if the borrower defaults.
USDA provides house assistance to help low to moderate income households to obtain housing for use as primary residence in rural areas.
Simply stated, a “conforming” loan is a home mortgage that meets or “conforms to” guidelines set by Fannie Mae or Freddie Mac. The designation is important because if a loan meets the guidelines, i.e., is a “conforming loan,” the lender will be able to sell that loan to Fannie Mae or Freddie Mac.
A mortgage is considered jumbo when it exceeds $417,000 (in most counties across the USA) which is the conforming limit set by Fannie Mae and Freddie Mac. Fannie and Freddie are the federally chartered companies that provide funding to retail mortgage lenders.