Loan Programs
VA Home Loan
Typically for borrowers with smaller down payments and lower credit scores, who are unable to be approved for a conventional loan. FHA loans can also be used for 2-4 unit properties when the home buyer occupies one of the units as their primary residence. Many first-time homebuyers use this type of loan.
Conventional Loan
Typically, a good match for borrowers with a strong credit history, stable employment history, minimal debt, and enough funds to put down at least 3%.
Unlike government-backed loans, they can be used to finance nearly any type of property, including primary residences, vacation homes, or investment properties.
Jumbo Loans
Jumbo loans are larger than the conforming loan limits set by Fannie Mae and Freddie Mac. Loans that are over $647,200. Call Katrina to discuss loan requirements.
VA Loans
VA Loans are backed by the Veteran’s Administration and are meant for active-duty military members, reservists, and veterans. VA loans can only be used for primary residence, no down payment required, and no PMI in addition to other features.
USDA Loans
USDA loans are backed by the United States Department of Agriculture. They assist low-to-moderate income borrowers become homeowners while also encouraging the development of rural areas.
Non-QM Loans
A Non-QM loan, or a non-qualified mortgage, is a type of mortgage loan that allows you to qualify based on alternative methods, instead of the traditional income verification required for most loans. Common examples include bank statements or using your assets as income. Because of the more flexible qualification requirements, Non-QM loans open up real estate investment opportunities to a broader group of individuals. Benefits of Non-QM loans include but are not limited to: Greater underwriting flexibility, no personal income calculations are required, no job history is required (in some cases); and low debt-service-coverage ratio (DSCR) on investment properties.
100 East Big Beaver Rd, Suite 915 Troy, MI 48083
Company NMLS:
2178036
