Products
Unless you can buy your home entirely in cash, finding the right property is only half the battle. The other half - is choosing the best type of mortgage loan product that is right for you.


A home loan that is not guaranteed, supported, purchased, or provided in any way by a government office such as the VA, FHA, and USDA, or government-supported companies like Fannie Mae and Freddie Mac

Loans insured by the Federal Housing Administration. The FHA does not loan money, but instead provides insurance to lenders on loans that meet the administration’s specific guidelines, which can include requirements for credit, down payments, and income.

Allows qualifying veterans the chance to enjoy affordable housing that is safe, comfortable, and reliable. The VA Loans allows for many benefits such as 0% financing and easy qualification.

100% financing (or 0% down) home loans. Since the cost of living and limited wages can make it difficult to save even a small down payment, USDA loans help people who don’t want to pass up the opportunity to own a home.

A home loan that is not conforming to traditional and required lending guidelines such as Jumbo Loans, Asset Utilization, Alternative Income, DSCR, Bank Statement, etc.

Loan amounts that are above county-specific limits set by Freddie Mac and Fannie Mae

These loans benefit the self-employed, or commission-based salary workers. Traditionally loans require paystubs and tax returns to verify income. Bank statement loans however can get approved with good credit, a decent down payment, cash reserves, and by avoiding any negative marks on your statements.

Supported by the FHA, this financing option can secure buyers the money to purchase the property and make renovations. The financial cushion helps them deal with the high costs of remodeling and construction, and they can spread the costs of home improvements over the life of the loan.

This is a loan program supported by Fannie Mae that helps family members purchase housing for their loved ones. Often used to help elderly, limited-income parents, the program is also used by parents of disabled adult children. If a family member cannot afford or cannot quality for a loan, this program may be an option.

Because DACA recipients are not official U.S. citizens, they do not have access to many of the government-backed loans that American enjoy. DACA loans, however, can provide financing for a home purchase, allowing “dreamers” to experience the benefits of homeownership.

These are programs, funded by governments, non-profits, and other organizations, that help people generate a downpayment for a home loan. The downpayment, which can go into the tens of thousands of dollars, represents a large hurdle for homeownership. Downpayment assistance seeks to lower this barrier, usually providing support to middle- and low-income individuals and families.

This type of mortgage is also referred to as “seller carry.” Essentially, if a homeowner is having trouble finding a buyer, they can carry the loan on their home. In this case, the buyer will legally document a promise to make payments to the seller, instead of a bank or credit union, over a given period, often with interest. Usually, the seller carry is for a portion of the purchase price, which helps the buyer get approved. Combined with the financing and down payment, the seller carry second can allow for the full purchase.

Coming up with funds to close on a home purchase is perhaps the single greatest barrier first time home buyers face. We are not sure exactly why the 20% down myth still exists. There are options out there that require very little down and, in some cases, nothing down. Down Payment Assistance Programs are government-backed and created and managed by individual cities, counties,and states in either the form of a grant or loan.
Terms to Know
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Fixed Rate
Mortgage with an interest rate that does not change. Fixed-rate loans allow the borrower to know exactly how much they will pay in the future, as the rate and total payment will not fluctuate.
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Interest Only
Mortgages where the borrower is only required to pay the interest on a mortgage loan for a specific term; example five to seven years.
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ARM-Adjustable Rate Mortgage
Loan with an interest rate that will adjust over time. They are adjusted annually, and most have a rate cap on the interest rate. ARM’s rates can be fixed for an early period such as 3, 5 or 7 years.
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Streamline
The FHA supports an option for rapid refinancing called “Streamline,” or “FHA Streamline Refinancing.” These loans are only available for refinancing an FHA loan into another FHA loan, but they can el
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Conforming
A loan that “conforms” to the standards used by Fannie Mae and Freddie Mac and can therefore be purchased by these institutions. Conforming loans can come with better terms for borrowers.
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Cross-Collateral
This is simply the practice of using collateral on one loan as collateral on another. In the mortgage industry, this would mean using a single property as collateral on two (or more) loans.