These are called "conventional loans" and the two terms are often interchangeably.  A loan that meets standards set by FNMA (FannieMae) or the FHLMC (Freddie Mac) is conforming.  Often these loans require a larger down payment from the borrower.  These guidelines, which are used by banks and other lenders, are more stringent and therefore these loans often can be obtained at the best interest rates.  Because of this, borrowers with the best credit will be attracted to, and be able to obtain, a conforming loan.  The entire transaction presents less risk to the lender.

The most common types of conforming loans are the 30-year fixed mortgage, the 15-year fixed rate loan, adjustable rate mortgages (ARMs), and second mortgages.

We seek conforming loans first for qualified borrowers as these carry the lowest interest rate.

Not so many years ago, about the only choice for home buyer was to make a big down payment and get a 30-year, fixed-rate mortgage.

Today there are a lot more home financing options, so you may qualify for an affordable mortgage even if you:

• Have limited savings for the down payment and closing costs
• Need low monthly payments
• Do not have an established credit history, but can show that you pay your bills on time, like your rent and utilities
• have a less than perfect credit history

In the old days, everyone had a 30-year mortgage.  Today, housing costs are higher, and it can be tough to afford a home of your own.

But  fortunately, there are a variety of  mortgage choice.                                                

The 40-year mortgage - its lower monthly payments can help you afford to buy your own home.

And unlike some mortgages that may start with low payments but could give you a shock with a much higher payments later on, you'll lock in a steady, fixed rate for the life of the loan.

We can help decide if a 40-year mortgage is right for you. 

Contact us to learn more about today's many home mortgage choices.

With Expanded Approval, even if you have less-that-perfect credit, you may be able to qualify for a mortgage and still get a reasonable interest rate.

We look at more than just your credit - we consider your overall financial situation to determine your ability to repay your home loan.  You won't need a big down payment either.

And with our Timely Payment Rewards feature, you may even qualify for a lower rate once you've made your mortgage payment on time for 24 months in a row.

It may be, if...

• Your adjustable-rate mortgage is about to adjust up.
• You want to consolidate consumer debt such as credit cards, car loans, etc.
• You would like to add or to start an investment portfolio.
• Your current interest rate is higher than today's interest rates (lower your payment).
• You want to "cash out" equity to use for home improvements, tuition, vacation, etc.

There are many factors that will determine whether or not now is the right time for you to refinance.  Together, we can analyze your specific situation and study the options so you can make the decision that is right for you.

CALL TODAY FOR A FREE - NO OBLIGATION - CONSULTATION. 

Qualifications

• No bankruptcy in the last 3 years
• No late payments over 30 days on non-medical debt
• Current on child support
• Current on student loans
• Non-medical judgements need to be paid off by closing
• No foreclosures
• Medical debt needs to be on a payment plan

 First - Time Homebuyer  for WHEDA Loan

You cannot have had an ownership interest in a principal residence during three years.  The only three exceptions are:

• You are military veteran
• The property you ar purchasing is located in a target area
• The property you are purchasing will be the subject of a qualified major rehabilitation

Income Limits for WHEDA Loan

The combined income of all adults who will occupy the property cannot exceed the limit in which the property you are purchasing is located.

• Low cost, fixed interest rate
• Up to a 30 -year term
• Fast turnaround time for loan approval
• Lown down payment
• Down payment assistance available
• Lower Mortgage Insurance Premiums
• Job Loss Protection pays your mortgage payment in the event of involuntary unemployment
• SmarthPath offers a network of resources to access credit repair assistance and homebuyer education

EVEN IF YOU DO NOT CURRENTLY MEET WHEDA'S GUIDELINES, YOU MAY BE ELIGIBLE FOR THE "WHEDA GATEWAY TO HOME OWNERSHIP PROGRAM", by attending an 8 hours educational session.  DON'T WAIT.....ASK ABOUT THIS PRODUCT TODAY!!

Are you a first-time homebuyer, or it has been more that three years since you have owned a home?

Have you met you credit obligations as promised?

Are you current on child support?

In the past 12 months you have not been 30 days or more late in making payments on debt?

There are no judgements against you that have not been paid off?

Have any accounts been turned over to a collection agency within 12 months?

Have you filed bankruptcy with the past 3 years?

Have you ever lost your home due to foreclosure or given up a home to foreclosure?

The VA (Veteran's Administration) offers loans to Veterans and active members of the armed forces.  The key aspect for these loans is that veterans can finance up to 100% of the sales price (a 100% LTV loan).  The VA guarantees these loans.

In addition to our full range of residential lending solutions, we now provide Commerical Financing for the following property types:

Multi-Family, Self-Storage, Retail, Office, Warehouse and Industrial

Whether you need to finance an acquisition, reduce your current interest rate, or pull some cash out through refinancing, we're here to help you.