Located below is further information on the variety of loans we offer depending on your financial needs.
We offer the lowest cost and best rate for well qualified applicants such as those with a high FICO score with 20% required as a down payment. There are various types of conventional loans depending on your needs, credit score, and repayment ability.
An FHA loan is a loan that is issued by a private lender and insured by the Federal Housing Administration. FHA loans offer many benefits depending on your situation, and generally require a FICO score of 580+ to qualify for a down payment as low as 3.5% on 1-4 unit properties. FHA loans allow prepayments with no penalty, which for borrowers who are seeking to pay off their loan faster is an important benefit. Additional requirements for you to qualify is you must have a valid Social Security Number, lawful residence in the United States, and be of legal age.
Loans insured by the Department of Veteran Affairs designed to assist military veterans and active duty military members obtain a mortgage with little to no down payment required. No prepayment penalty, no private mortgage insurance required, and there are no credit score requirements. Most members of the military, veterans, reservists and National Guard members are eligible to apply for a VA loan. Spouses of military members who died while on active duty or as a result of a service-connected disability may also apply.
Stated Income Loans
Loans that do not require your W-2s designed for self-employed individuals or those in a work field with difficulty documenting income, and instead rely on documents such as bank statements and other methods to verify income. Due to the lack of W-2's, credit scores may be required to be higher than on other forms of loans. These loans are often only given to borrowers who are seeking to acquire a residence for the use of renting it out, flipping the property, or for a small business owner seeking property.
Hard Money Loans
Loans that utilize collateral to secure the loan, can be closed faster than traditional loans, and are ideal for short-term financing such as fix-and-flip investing. These types of loans typically have double digit interest rates and each borrowers is examined individually based on their own situation.