June 28, 2021

What mortgage is right for you?

When you're getting ready to buy a new home, or refinancing an existing one, you may be wondering: "Which mortgage is right for me?"

There's a lot of options out there, which is great, because there's a lot of people to help! Here are just a few of the programs we offer, and what they can be used for.

Conventional loans are a mortgage loan that meets Fannie Mae and Freddie Mac standards. There are even options for first-time homebuyers, second homes, and investment homes.

Jumbo loans are loans that exceed the conventional financing limit. Don't let the price of your dream home be an obstacle!

FHA loans are loans insured by the Federal Housing Administration. They offer lower down payment and credit score options. It also has some expanded guidelines, which can help where others cannot.

USDA loans are backed by the U.S. Department of Agriculture with the intention of building out some of the nation's smaller communities. They have some great down payment options for those that qualify.

VA loans are loans backed and insured by the federal government, and they're available to active duty military and veterans. They have great down payment options and credit score options.

Reverse mortgages are fantastic programs for seniors with equity in their homes, and for those who want to tap into equity without having to make a monthly mortgage payment. You've put work into your home, now, put your home to work for you!

Finally, there's Non-QM loans. These are specialty loans that can help borrowers that are looking for an alternative method for documenting their income.

You may not even know what options are available to you, or what may be the best scenario for you, which is why we're here to help. We believe in the power of helping our borrowers explore their options so they can meet all of their homeowning and buying goals with a balanced financial plan. Don't limit based off what you think you know or might have heard. Call us today so we can give you a full rundown of all your options.

Watch our video on this topic here.