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- Credit challenged is OK. We work with individuals who have had a bankruptcy or foreclosure. We look for solutions-if not today we let you know what we think you can do to improve your situation. Life happens. We understand and are not judgemental. We can help you get a home even if you have an open chapter 13 as long as you have 12 months of on time payments.
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- FHA (Federal Housing Administration) loans are becoming more popular. We can finance up to 96.5% of a home's purchase price, 85% on a cash out basis and 97% on a rate and term refinance. Credit scores of 620 (possibly lower under certain circumstances) are eligible. We offer the 203K rehab loan as well-although lenders periodically discontinue purchasing this loan. Check on current availability.
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- VA (Veteran Administration) loans are for veterans, active duty and reservists as well as their spouses in certain circumstances. VA loans are eligible for 100% financing. This means no down payment. Their is also a little more credit flexibility with this loan for things such as a previous foreclosure.
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- USDA rural development home loans are for purchase a home in a rural area. This program also allows for 100% financing. There are income and location restrictions. The loan limit is 417K and is a 30 year fixed rate loan. This loan is for a single family home purchase-not to finance a farm or any other type of property. There are different loans that are for these other types of properties.
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- Conventional loans of all types-fixed rate, ARMs, Jumbos,and lines of credit. We offer these loans on primary residence purchases and refinances as well as on second homes and investment properties. We also have outlets for commercial financing.
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- Reverse mortgages can be a way for someone age 62 or older to have the home pay them an income. This could allow a senior homeowner to stay in their home longer. What are the criteria?-be age 62 or older and own a home with enough qualifying equity. No income or credit requirements apply.
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- First time buyer programs and first time home buyer credits. Based on legislation, there may be a special program for someone who has hasn't ever owned a home or someone that hasn't owned a home for a period of years (generally 3). We keep up on these programs and may be able to offer them to you or explain how they work. Frequently there are restrictions on eligibility-such as income requirements.
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DO IT NOW-Apply for mortgage and/or get pre-qualified for your home purchase.
Please tell us if you contacted us via an Internet search. We have a special offer that you might not otherwise qualify for.
