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FHA loans have been helping people become homeowners since 1934. How do we do it? The federal housing administration (fha) – which is part of HUD – insures the loan, so your lender can offer you a better deal.
An amount paid to the lender, typically at closing, in order to lower the interest rate. Also known as mortgage points or discount points. One point equals one percent of the loan amount (for example, 2 points on a $100,000 mortgage would equal $2,000).
Conventional Loan This is a common option for those using a down payment of at least 5% to buy or refinance a home. Jumbo Loan This loan is for those looking to finance a loan amount more than $484,350. Refinance Lower your mortgage payment or cash out the equity in your home to cover other expenses.
Government Home Refinancing Programs
Eligibility. You must have satisfactory credit, sufficient income, and a valid Certificate of Eligibility (COE) to be eligible for a VA-guaranteed home loan. The home must be for your own personal occupancy. The eligibility requirements to obtain a COE are listed below for Servicemembers and Veterans, spouses, and other eligible beneficiaries.
Home Loan Programs require very little or NO down payment; Competitive low rates and allow more flexible credit criteria. refinance programs also provide a rate and term refinance up to a 97.75% loan to value of the appraised value of your home. Refinance Programs also provide a cash-out refinance mortgage (for any reason) up to a 85.00% loan to value.
Conventional home mortgages eligible for sale and delivery to either the Federal National Mortgage Association (FNMA) or the Federal Home Loan mortgage corporation (fhlmc). government A loan that is either backed by the Federal Housing Administration (FHA) or a VA loan for eligible service members and veterans.
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2 The educator mortgage program through supreme lending entitles the eligible home buyer and/or seller to a credit against real estate fees equal to .20% of the loan amount up to a maximum of $800. Subject to Real Estate Agent participation.