I am readily available to help you with almost any loan size and almost any loan scenario. Give me a call, send an email or fill out the form to the right to get started on the process today!
These government insured loans are more popular than ever, offering flexible credit guidelines and the ability to borrow up to 97% of the value of your home. FHA-insured home loans are used by homeowners of all types in a variety of situations. Whether you’re applying with a high or low debt-to-income ratio, I will give you with a rate quote that will suite your purchase or refinance needs.
FHA 203k Loans
The FHA 203k program allows you to finance an additional $35,000 to pay for property repairs or improvements. This loan bundles your mortgaged amount with your estimated home repair costs—all into one loan. Applying for a FHA 203k loan with me makes it possible to make home repairs after getting a mortgage or before you move in.
As a direct seller to Fannie Mae, Ginnie Mae and Freddie Mac, I offer a wide variety of Fixed and ARM loan options. These mortgages process faster and generally require higher down payments than others, which can lead to building home equity faster. I can expedite the process and provide you with the lowest origination fees, down payments, mortgage insurance, points and appraisal fees possible.
VA loans are available to active military and veterans. Qualified veterans can purchase a primary residence with no money down, 100% refinancing and may reuse this benefit in the future. Working with me can mean the seller pays closing costs and the VA funding fee, as long as these expenses don’t exceed four percent of the loan amount.
Jumbo loans range from $417,000 to over $1,000,000 and are offered in a wide variety of Fixed and ARM Jumbo loan options. Instead of underwriting the loan to Freddie and Fannie’s standards, I insist upon underwriting the loans to common sense terms and approves based on the loan’s individual qualifications. Good Jumbo loans are hard to find, but rest assured that with me you’ll have an amazingly low rate and simplified approval process.
Rural Development (USDA) Loans
Rural development (USDA) loans, also referred to as Section 502 loans, provide rates that are often as low as comparable conventional 30-year fixed mortgage rates. They are also comparable to most other mortgages in that they do not have unreasonable payback schedules or have prepayment penalties. I can give you the desired zero down payment and 100% refinancing that is available in qualified rural communities.
Thirty-Year Fixed Rate Mortgage
The traditional 30-year fixed-rate mortgage has a constant interest rate and monthly payments that never change. This may be a good choice if you plan to stay in your home for seven years or longer. If you plan to move within seven years, then adjustable-rate loans are usually cheaper. As a rule of thumb, it may be harder to qualify for fixed-rate loans than for adjustable rate loans. When interest rates are low, fixed-rate loans are generally not that much more expensive than adjustable-rate mortgages and may be a better deal in the long run, because you can lock in the rate for the life of your loan.
Fifteen-Year Fixed Rate Mortgage
This loan is fully amortized over a 15-year period and features constant monthly payments. It offers all the advantages of the 30-year loan, plus a lower interest rate—and you’ll own your home twice as fast. The disadvantage is that, with a 15-year loan, you commit to a higher monthly payment. Many borrowers opt for a 30-year fixed-rate loan and voluntarily make larger payments that will pay off their loan in 15 years. This approach is often safer than committing to a higher monthly payment, since the difference in interest rates isn’t that great.
Hybrid ARM (3/1 ARM, 5/1 ARM, 7/1 ARM)
These increasingly popular ARMS—also called 3/1, 5/1 or 7/1—can offer the best of both worlds: lower interest rates (like ARMs) and a fixed payment for a longer period of time than most adjustable rate loans. For example, a “5/1 loan” has a fixed monthly payment and interest for the first five years and then turns into a traditional adjustable-rate loan, based on then-current rates for the remaining 25 years. It’s a good choice for people who expect to move (or refinance) before or shortly after the adjustment occurs.
Adjustable Rate Mortgages (ARM)
When it comes to ARMs there’s a basic rule to remember…the longer you ask the lender to charge you aspecific rate, the more expensive the loan.
2/1 Buy Down Mortgage
The 2/1 Buy-Down Mortgage allows the borrower to qualify at below market rates so they can borrow more. The initial starting interest rate increases by 1% at the end of the first year and adjusts again by another 1% at the end of the second year. It then remains at a fixed interest rate for the remainder of the loan term. Borrowers often refinance at the end of the second year to obtain the best long-term rates. However, keeping the loan in place even for three full years or more will keep their average interest rate in line with the original market conditions.
This loan has a rate that is recalculated once a year.
With this loan, the interest rate is recalculated every month. Compared to other options, the rate is usually lower on this ARM because the lender is only committing to a rate for a month at a time, so his vulnerability is significantly reduced.