Conventional

Available in either a fixed or adjustable rate, this is the most popular loan type for buying or refinancing a home. They can be used for anything from your primary residence to a second home or an investment property. These highly publicized loans are back-stopped by mortgage servicers Fannie Mae and Freddie Mac.

• Mortgages available with as little as 3% down on select loan programs, 5% for all others.
• The 30, 20 and 15-year fixed mortgages offer predictable monthly payments.
• 10, 7 and 5-year ARM’s (adjustable-rate mortgages) lower your monthly payments by offering a fixed rate but at a shorter term.

High-Balance
Conventional

Increased loan amounts established by individual counties with many of the same benefits as a fixed-rate or ARM conventional loan.

• Can offer a better alternative to jumbo mortgage rates and down payment requirements where offered.
• Mortgages available with as little as 5% down.
• Follows the same underwriting guidelines and loan programs as conventional loans.

FHA

A US Federal Housing Administration-backed mortgage loan for the purchase or refinance of primary residences. Rates are typically lower than conventional loans, but mortgage insurance and the FHA funding fee are required. These programs generally have the same loan limits as conventional and high balances.

• As low as 3.500% down allowed for all borrowers.
• Credit requirements are more liberal, allowing more homeowners into the market.
• Streamlined refinances for existing FHA loans with less paperwork allow for easy monthly savings when the time comes to lower your payment.

VA Loans (Veteran Affairs)

A VA Mortgage Loan allows for HUD backing for loan amounts and as little as 0% down for armed service members and veterans. The VA loan has a funding fee (that may be waived based on individual entitlement) but has no mortgage insurance regardless of the down payment.

• Our VA clients often receive rates much lower than the national average. We don’t upcharge to cover marketing costs passing those savings to you.
• VA Jumbo loans offered that greatly surpass any county limits.
• Streamlined IRRRL refinances for existing VA loans with less paperwork allow for easy monthly savings when the time comes to lower your payment.

Jumbo Mortgages

Unlike a conventional loan, these programs encompass loans that typically exceed conventional county loan limits. No two jumbo programs are exactly alike, with different requirements for every loan. Our experience is invaluable to our clients in helping them navigate the different jumbo loans available.

• Available in fixed or adjustable rates.
• Down payments will vary from program to program, 10% down is available on some loans.
• Rates are tiered and will go up and down based on the overall strength of the borrower and down payment.

Cash Out/Equity Loans & 2^nd Mortgages

Cash out mortgages can come from a variety of different programs and are derived from the equity you have in your home. Your mortgage becomes the financial instrument used to pull the money out. A cash out loan can be a conventional, FHA, VA, or Jumbo first mortgage.

You can also access the equity in your home by acquiring a second trust, like a Home Equity Line of Credit (HELOC) or Home Equity Loan. Depending on your goals, you may be able to borrow up to 100% of your home’s equity. Funds can be used for any of the following:

• Remodeling your home
• Down Payment on another home
• Debt Consolidation
• Investments or Savings