Pam Marron NMLS# 246438 Tara Jerse NMLS# 2105127
Conventional loan terms can be anywhere from 10 to 30 years. The terms can have an adjustable rate or a fixed rate, depending on the type of loan. 1st time Homebuyer programs that allow down payment assistance available also!
FHA Loans only require a 3.5% downpayment, interest rates are lower than conventional, debt to income ratios can be higher than conventional mortgage DTI, and these mortgages are assumable!
VA loans offer 100% financing on lower interest rates for veterans and these loans can also be assumable. Even if you are in the National Guard, you can be eligible!
USDA loans provide 100% financing and are specified to rural areas that can be found on the USDA eligiblity map. Income restrictions based upon family size do apply.
Renovation loans are available for existing homes on all loans noted above with varied restrictions. If you can see the vision of the home past the present look, this may be for you! Also, construction/perm loans, though limited, are available to build from the ground up.
These are portfolio conventional loans that can be used for unique circumstances such as a recent derogatory event like a bankruptcy, foreclosure, short sale or even income with inconsistencies. 20% is commonly required down payment. Minimum credit scores do apply.
Resources at Clients2Homeowners.com to get challenged clients "Mortgage Ready"!
Disclaimer: While every effort has been made to ensure the accuracy of this calculator, the results should be used as an indication only. This is neither a quote nor a pre-qualification for a home loan.
Helping clients, realtors, and loan originators get "mortgage ready" for over 39 years!
Pam Marron
| NMLS# 246438
Tara Jerse | NMLS# 2105127
Innovative Mortgage Services, Inc.
| NMLS# 250769
Pam Marron NMLS# 246438 Tara Jerse NMLS# 2105127 Innovative Mortgage Services, Inc. NMLS #250769 - NMLS Consumer Access / Legal Disclaimer - This information is not intended to be an indication of loan qualification, loan approval or commitment to lend. All Zillow rate data and Zillow reviews are © of Zillow, Inc. 2006-2021.