We are a full service mortgage brokerage. We have correspondent relationships with many established investors and can offer you the most competitive rates available for the lowest cost. If you've got a quote from another lender or bank let us see if we can beat it and save you some money!
If you've got good credit and a down payment you will want to consider a conventional loan. These Fannie/Freddie mortgage loans will loan up to $510,400 on a single family residence and require as little as 3% down payment. You can avoid mortgage insurance with a 20% down payment. Mortgage Insurance protects the lender and not the borrower. We have numerous sources for the most competitive interest rates available.
CDLP - Certified Divorce Lending Professional
A Certified Divorce Lending Professional has received specialized training in understanding the challenges involved in the separation of real estate when there is a divorce. The CDLP often works with the attorney's professional divorce team as an impartial and independent consultant. The CDLP uses their experience and knowledge of mortgage lending, real estate, IRS tax rules and family law to create a plan to ensure that all parties have the most positive results upon settlement and in the future.
Any loan amount over $510,400 is considered a jumbo loan. Current Jumbo Financing is extremely difficult and in most cases are unavailable. Guidelines for Jumbo Financing have changed significantly and many large banks and investors simply don't have the interest in purchasing Jumbo loans and more risky loans. If you need Jumbo Financing at this time we would recommend a local Credit Union as a possible source.
If you are at least 62 years old and have equity in your home a reverse mortgage may be an option to consider. You retain ownership of your home and a reverse mortgage pays off your existing mortgage. You also have the option to establish a line of credit that is available if needed. You must have equity in your property and there are restrictions to the amount that is available for the loan depending on your age. If you're considering this type of mortgage loan product it's important that you take your time and look at all of your options. We'll look at your situation and review your options to help you make the best informed decision.
An FHA insured mortgage offers a new home buyer the flexibility of only 3.5% down payment and gifts are okay. The programs are more forgiving when it comes to credit and if you've had some issues an FHA insured loan might be a good start. The loan does require mortgage insurance and there are some restrictions on properties and required repairs that need to be considered. All of these are issues that can be addressed case by case. We'll look at all aspects of the purchase and see if an FHA insured loan is the right option. Be sure and check the loan limit for the area that you are purchasing; loan amounts differ for every county.
If you currently have an FHA insured loan you might consider a streamline refinance. There's very little that is required and you don't need an appraisal. Check with us for the details.
Are you a Veteran? First and foremost... thank you for your service! If you have your eligibility you should use it. A VA insured loan provides the Veteran and their families 100% financing without paying a monthly mortgage insurance payment. There is a VA funding fee which can be finance along with the Veterans closing costs. The VA really takes care of their Veterans when it comes to VA backed mortgages. If you need help getting your Certificate Of Eligibility and your DD214 let us know and we're glad to help.
Interest rates are excellent so why not take advantage of refinancing your existing mortgage. You can save money on your monthly payment, lower your term, access your equity for home renovations or another important projects. We'll want to run the number and make sure the savings you'll receive from the refinance makes sense. The general rule is that you'll want to save at least 1% on your interest rate and/or a reduction on your principal and interest payment of at least $100 or more if you're not increasing your principal balance. You'll want to make sure that cost of your refinance is recaptured by the monthly savings within a 2 to 3 year period. Let us help you determine the savings you'll receive from your refinance and if it make sense for you at this time.
Alternative Financing Options
There are many types of alternative mortgage loan products that are available. This is one of the best benefits of working with a mortgage broker; having access to loan products that can help home buyers who wouldn't normally qualify for conventional financing. Whether your situation involves credit problems, challenges documenting your income, bankruptcy, shortsale or a foreclosure, talk to us to see if there's a program available that gives you financing options for a mortgage loan.