Mortgage Offered
VA
A VA loan is a mortgage loan that is guaranteed by the United States Department of Veterans Affairs. This type of loan is available to eligible veterans, active-duty service members, and surviving spouses. VA loans offer several benefits, including no down payment requirement and lower interest rates compared to conventional loans.
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USDA
A USDA loan is a type of mortgage loan that is backed by the United States Department of Agriculture. It is designed to help low to moderate-income families in rural areas purchase a home. These loans offer competitive interest rates and require no down payment, making them an attractive option for those who qualify.
Conventional
A conventional loan is a type of mortgage that is not insured or guaranteed by the federal government, unlike government-backed loans such as FHA, VA, and USDA loans. This means that the lender assumes the risk of the loan and borrowers are required to meet certain eligibility criteria and financial requirements
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Down Payment Assistance
A down payment assistance loan is a type of loan that helps homebuyers cover the upfront costs of purchasing a home. This loan can be used to cover the down payment, closing costs, or other expenses associated with buying a home. The loan is typically offered by government agencies or non-profit organizations and can be a great option for those who not have enough savings to these costs on their.
FHA
An FHA loan is a mortgage that is insured by the Federal Housing Administration. This type of loan is popular among first-time homebuyers and those with lower credit scores, it allows for a lower down payment and more lenient credit requirements. FHA loans are a great option for those looking to purchase a home with less money down and more flexible credit requirements.
Debt Service Coverage Ratio (DSCR)
Debt Service Coverage Ratio (DSCR) is a financial metric used by lenders to assess a borrower's ability to repay a loan. It measures the cash flow available to meet debt obligations by comparing the borrower's net operating income to their total debt service. A DSCR of 1 or higher indicates that the borrower has sufficient cash flow to cover their debt payments.
HELOC
A HELOC loan, or Home Equity Line of Credit loan, is a type of loan that allows homeowners to borrow against the equity they have built up in their home. This of loan typically has a variable interest rate and can be used for a variety of purposes, such as home improvements or debt consolidation. HELOC loans can be a useful financial tool for homeowners who need access to cash for large expenses
Equity Loans
Equity loans are a type of loan that allows homeowners to borrow money by using their home as collateral. These loans are typically used for large expenses, such as home renovations or debt consolidation. However, it's important to note that if you default on an equity loan, you could risk losing your home.
Bank Statement Loans
Bank Statement Loans are a type of loan that allows self-employed individuals to use their bank statements as proof of income instead of traditional tax returns. This type of loan is ideal for those who have fluctuating income or have difficulty providing tax returns.
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