There are a number of different types of home loans available to you, and it can pay to familiarize yourself with them. Luckily we're here to help you choose the best type of home loan for your needs.
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A conventional loan is a type of loan that is not insured by the government. Conventional loans offer more flexibility and fewer restrictions for borrowers, especially those borrowers with good credit and steady income.
FHA home loans are mortgages which are insured by the Federal Housing Administration (FHA), allowing borrowers to get low mortgage rates with a minimal down payment.
VA loans are mortgages guaranteed by the Department of Veteran Affairs. These loans offer military veterans exceptional benefits, including low interest rates and no ...
A jumbo loan is a mortgage used to finance properties that are too expensive for a conventional conforming loan. The maximum amount for a conforming loan is $766,550 in...
A HELOC is a revolving Line of credit secured by the equity in your home. Borrow what you need, when you need it, and pay intrest only on what you use. Ideal for renovations, debt consolidation, or major expenses, without refinancing your first mortgage.
Private money loans are funded by private investors rather than banks or government-backed programs. Approval is based mainly on the property's value, not just your credit or income, allowing for faster closings. Suited for investors, fix-and-flip projects, and borrowers. who don't fit Conventional guidelines.
Buy or refinance a home lnd finance the repairs or upgrades in a single loan. Renovation loans base the amount on the homes's projected value after improvements, so you can fund the work without a separate construction loan or high-intrest credit. Ideal for fixer-uppers and homes that need updating.
Non-QM options for borrower who don't fit traditional income documentation. DSCR loans qualify real estate investors based on the property's rental income rather than personal income. Bank statment loans let self employed borrowers qualify using 12-24 months of business or personal deposit instead of tax returns.