Your Home Loan Options Made Simple
Whether you’ve been living with family or renting with roommates, becoming a homeowner is a huge stepping stone in anyone’s life.
Figuring out how to take the first step towards home-ownership can be challenging, but certainly not impossible.
Here are the benefits of and reasons behind the types of loan programs we offer at HomeLend Mortgage:
Fixed Rate Mortgage
- Least risky option
- Same interest rate for the length of the loan
- Predictable monthly payments
- Good for borrowers who plan to be in one home for a long time
Learn more about the Fixed Rate Mortgage here.
Adjustable Rate Mortgage (ARM)
- Lower interest rate during the fixed period than the fixed rate
- Doesn’t require a refinance
- More financial flexibility at the start
- If you don’t plan to live in one place for long
- Limits on how much your payments can increase
Learn more about the Adjustable Rate Mortgage here.
Jumbo Loans
- Requested loan amount exceeds $484,350
- Exceeding $726,525 in “high-cost” areas
- Reasonable debt-to-income ratio
- Robust financial health history
Learn more about Jumbo Loans here.
Federal Housing Administration Loan
- Need a loan but can only provide a small amount of down payment
- Provides more financial flexibility
- Empowers homeownership in lower income individuals
HomeReady
- Limited household income
- Buy a home with an appealingly low down payment.
- Can use gift funds provided by family or friends
HomePossible
- Provides home ownership for varying levels of income
- Easier credit scoring
- low down payment
Veterans Affairs Loan
- For active duty service members or veterans
- No down payment
- No private mortgage insurance requirement
Still have questions?
Every buyer is different. There are so many options out there that it is possible for pretty much anyone to become a homeowner. In order to find out which program is right for you, reach out to our expert loan officers to receive your free, no hassle, no commitment quote now.
