Mortgage Loans by Jeremy Hickok
Conventional
Conventional Loans are mortgage loans that conform to guidelines set by Fannie Mae (FNMA) or Freddie Mac (FHLMC). Conventional loans can be done on primary occupancy homes, second homes and investment properties. These loans are also eligible for ARM (Adjustable Rate Mortgage) financing.
Conventional Loans are mortgage loans offered by non-government sponsored lenders and conform to guidelines set by Fannie Mae (FNMA) or Freddie Mac (FHLMC). Conventional loans can be done on primary occupancy homes, second homes and investment properties.
VA
VA Loans are mortgage loans that are guaranteed by the U.S. Veteran's Administration. These loans offer 100% financing without PMI (private mortgage insurance); however, there is a funding fee that ranges from 0% to 3.6% depending on your situation. Finally, VA loans are ONLY eligible on primary purchases or refinances.
Conventional Loans are mortgage loans offered by non-government sponsored lenders and conform to guidelines set by Fannie Mae (FNMA) or Freddie Mac (FHLMC). Conventional loans can be done on primary occupancy homes, second homes and investment properties.
FHA
(Federal Housing Administration)
FHA Loans are mortgage loans insured by the U.S. Federal Housing Authority. These loans allow for a down payment starting as low as 3.5%. FHA loans require a 1.75% fee which can be wrapped into the loan and monthly PMI between .80% and .85% of the loan amount. depending on your situation. Guidelines state that an FHA loan is intended to be for your primary residence ONLY.
Conventional Loans are mortgage loans offered by non-government sponsored lenders and conform to guidelines set by Fannie Mae (FNMA) or Freddie Mac (FHLMC). Conventional loans can be done on primary occupancy homes, second homes and investment properties.
USDA/Rural
USDA/Rural Loans are mortgage loans that are administered by The U.S. Department of Agriculture. These loans offer 100% financing with a 1% USDA Guarantee Fee which is financed into your loan and a monthly MIP of .35% of the loan amount. USDA loans are ONLY eligible on primary purchases or refinances.
Conventional Loans are mortgage loans offered by non-government sponsored lenders and conform to guidelines set by Fannie Mae (FNMA) or Freddie Mac (FHLMC). Conventional loans can be done on primary occupancy homes, second homes and investment properties.
ARM
(Adjustable Rate Mortgage)
ARM (Adjustable Rate Mortgage) Loans are a mortgage where the interest rate can change over the term of the loan. The borrower is protected by “caps” which set a ceiling for the 1st adjustment, periodic adjustments, as well as the total amount of adjustments allowed over the life of your loan. Since ARMs typically have lower starting interest rates than fixed mortgages, they may be a great option for people who plan on keeping their home for 5 years or less.
Conventional Loans are mortgage loans offered by non-government sponsored lenders and conform to guidelines set by Fannie Mae (FNMA) or Freddie Mac (FHLMC). Conventional loans can be done on primary occupancy homes, second homes and investment properties.
Jumbo
Jumbo Loans are mortgage loans that are typically used to buy or refinance more expensive and high-end homes ranging from $726,200 to $4 million. The minimum down payment for Jumbo loans ranges from 10.01% to 25% depending on your circumstances.​ Like Conventional loans, Jumbo loans can be done on primary occupancy homes, second homes and investment properties.
Conventional Loans are mortgage loans offered by non-government sponsored lenders and conform to guidelines set by Fannie Mae (FNMA) or Freddie Mac (FHLMC). Conventional loans can be done on primary occupancy homes, second homes and investment properties.
Refinance/Debt Consolidation
Refinance or Debt Consolidation Loans are mortgage loans that use the equity in your home to get better terms OR cash in hand. Conventional Refinancing is permitted on primary residences, secondary residences, and investment homes. FHA, USDA & VA all offer refinancing programs, but each has different requirements and stipulations. Finally, the maximum LTV (loan to value) permitted for refinances is 95%, meaning that you can borrow up to 95% of your home’s worth for refinancing purposes. If you are interested in getting cash out the maximum LTV available is 80%. These figures change based on your unique scenario. Please reach out to a mortgage professional (me) for more information.
Conventional Loans are mortgage loans offered by non-government sponsored lenders and conform to guidelines set by Fannie Mae (FNMA) or Freddie Mac (FHLMC). Conventional loans can be done on primary occupancy homes, second homes and investment properties.
A home equity line of credit, also known as a HELOC, is a revolving line of credit secured by your home. HELOCs are often used for large expenses or to manage higher-interest rate debt on other loans such as credit cards. We are able to provide HELOCs for primary residences, second homes, and investment properties! Eligible borrowers can access between $20,000 and $400,000 of their home’s equity for this loan product.
HELOC
(Home Equity Line of Credit)
Conventional Loans are mortgage loans offered by non-government sponsored lenders and conform to guidelines set by Fannie Mae (FNMA) or Freddie Mac (FHLMC). Conventional loans can be done on primary occupancy homes, second homes and investment properties.
Long Term Lock
Long Term Locks are a feature we offer for people under contract who would like to lock current rates for 90+ days. Additional conditions and fees may apply.
Conventional Loans are mortgage loans offered by non-government sponsored lenders and conform to guidelines set by Fannie Mae (FNMA) or Freddie Mac (FHLMC). Conventional loans can be done on primary occupancy homes, second homes and investment properties.
Construction to Perm.
Construction to Perm. Loans are mortgage loans that offer a one-time close with up to 10 draws based on loan amount. These are typically used if you own land or are purchasing land and want to add a home to your property but don’t want to buy directly from the builder. To use this loan, we need Contractor & Project approval before the loan is approved, in addition to approving the buyer. Finally, Construction loans are ONLY available for primary and secondary homes.
Conventional Loans are mortgage loans offered by non-government sponsored lenders and conform to guidelines set by Fannie Mae (FNMA) or Freddie Mac (FHLMC). Conventional loans can be done on primary occupancy homes, second homes and investment properties.
DSCR
DSCR (Debt Service Coverage Ratio) loans are designed for real estate investors seeking lower payments on a long-term, fixed-rate loan with no balloon payment. This program is based on your portfolio’s cash flow and how that relates to your ability to repay the mortgage. DSCR loans are ONLY used for investment properties. Loan amounts for this program range from $75,000 to $2 Million.
Conventional Loans are mortgage loans offered by non-government sponsored lenders and conform to guidelines set by Fannie Mae (FNMA) or Freddie Mac (FHLMC). Conventional loans can be done on primary occupancy homes, second homes and investment properties.
Bank Statement Loan
Bank Statement Loans are ideal for real estate investors who are self-employed. You don’t need to provide the lender with some of the typical income documents, instead you will qualify on the income from your bank statements. Consecutive bank statements are required for the 12-24 months immediately preceding your loan application. These statements are to have NO co-mingled funds between business and personal transactions. Minimum down payment is 15% and max loan size is $3 Million.
Conventional Loans are mortgage loans offered by non-government sponsored lenders and conform to guidelines set by Fannie Mae (FNMA) or Freddie Mac (FHLMC). Conventional loans can be done on primary occupancy homes, second homes and investment properties.
Fix & Flip
Fix & Flip loans are designed for real estate investors who are seeking a short-term, interest-only loan to purchase and improve a property based on its appraised value (with those improvements). This program is ONLY used for investment properties. Loan amounts for this program range from $75,000 to $2 Million and requires a minimum 20% down.