Home Loan Options

Not everyone will fit the government backed mortgage box.

This is where Non QM loans come in.  

Who are Non QM, Bank Statement and DSCR loans for?

If you are self employed and showing income in your bank accounts but NOT on your taxes, a bank statement loan may be a good fit for you.

If you are looking to buy another property, especially an investment property, and want to purchase the home in an LLC or Corporation name, a DSCR loan may be for you.

If you are looking for financing on an investment property and don't want to use your personal income, qualifying based on the current or future rental income of that property through a Non QM loan may be for you.

Non Qualified Mortgages aka Non QM loans are outside the box loans not traditionally purchased by the government.  They allow you to purchase and refinance primary and rental property houses to build equity and elevate your financial future when other loans won't qualify you.

With only 3.5% down payment required, the FHA home loan is an incredibly popular option.  FHA largely treats a 640 credit score the same as a 740 score, so purchasing a home without penalty for mediocre credit is one click away!

FHA refinances up to 97.75% of the value of a home are one of the fastest growing loan options too.

Have Good to Great Credit?  A Conventional Home loan may be the best option for you!

Conventional home loans REWARD you for better credit with reduced interest rates AND reduced mortgage insurance for those not putting 20% down.

Conventional Home Loans start as low as 3% down payment and reward you with 5,10 and 15% down payments as well by lowering monthly mortgage insurance.

In many areas that our clients purchase homes (we always check per county/state), you can purchase a home for as much as $874,000 with as little as 5% down when you have excellent credit/ savings.

If you don't have ALL THREE: excellent credit, income and savings then still have options, we just need to evaluate each of them based on government risk tolerances.

If you or your spouse is a Veteran or in some cases a reservist, a VA Home loan is an INCREDIBLE LOAN.

With 0 down payment and NO monthly mortgage insurance, VA loans often have the lowest rates around with very simple qualifications.

Is the value of your home worth signifcantly more than you owe?  You MAY BE able to take cash out of your home for improvements, college tuition, debt consolidation or other opportunities.  

A Rate and Term Refinance can be a great opportunity to lower your interest rate and lower your monthly mortgage payment.

One main misconception about refinancing is that you are REQUIRED to go back to a 30 year loan term.  In many cases we can keep your number of months remaining on your home loan so that you pay your home off in the same time AND save money!

We would LOVE to go over the savings you can achieve over the life of a loan by reducding the number of years on your home loan.

Often times, a shorter term home loan is SIGNIFICANTLY cheaper in interest rate, more of your monthly payment goes toward principal and the savings adds up quickly!