Conventional Lending up to 95% Loan to Value “Conventional Lending" is a type of financing that has been popular for many years. It is the typical loan that most buyers want to obtain.
The conventional market extends financing to home buyers for as little as 5% down! This small down-payment must be the borrowers OWN funds, ‘sourced and seasoned’ in your checking/savings account for at least 60 days (or from the sale or another property, etc). The seller is allowed to pay up to 3% towards ‘seller paid closing costs’ on behalf of the buyer in this type of transaction. Buyers can obtain a 30, 20, 15 or 10 year terms for their loans on this type of product.
This extremely popular product is the way to go if you have 5% or more to put down on your new home. If you have any questions please feel free to give us a call and we can walk you thru the requirements and get you started today!
Refinancing your home is an important decision for your family and we would be honored to be a part of that. Our refinance products include:
· FHA Financing up to 97% Loan to Value
· Conventional Lending up to 95% Loan to Value
· Investment Property Financing up to 80% Loan to Value
· Rural Development to Rural Development Lending
· VA Loans 100% Financing & VA 100% ‘cash-out’ options
· FHA streamlines
We feel that the more informed our clients are about their loan options and our loan products, the more comfortable and confident they will be about their home financing decision.
Federal Housing Administration lending has become a very popular loan product in the past 6 years. FHA lending extends financing to home buyers for as little as 3.5% down!
This small down payment can be in the form of a gift from a family member, a gift from an employer, an auto equity loan, or simply your checking/savings account. You do not have to be a ‘first time home buyer in order to obtain another FHA loan, in fact, you can own another home & still be eligible! The seller is even allowed to pay up to 6% towards ‘seller paid closing costs’ on behalf of the buyer.
Buyers can obtain a 30, 20, 15 or 10 year terms for their loans on this type of product. Our current minimum credit score requirement for FHA is a 600.
With our Veterans Affairs loans, all retired and active military service personnel, including Coast Guard and National Guard are eligible.
We make it easy to apply for VA financial assistance. We communicate, on your behalf, with everyone involved, including the VA. Our goal is to make it simple, stress-free, and affordable for you.
Rural Development Loans offer 100% financing to households that do not exceed more than $74,500.00 annual income.
You do not have to be a ‘first time homebuyer’ in order to obtain a RD loan; but, you cannot currently own another home & be eligible to purchase another one with RD financing! There is no time limit after you sell your home to be eligible for a RD loan and the seller is allowed to pay up to 6% towards ‘seller paid closing costs’ on behalf of the buyer.
Rural Development loans can only be acquired in a 30 year mortgage loan. Rural Development loans for properties located on Cape Cod and Plymouth County have to be eligible according to the guidelines and those can be found here.
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