1. FHA Loan – This is most common assistance loan and you may already be familiar with FHA loans, these are widespread and help buyers with lower credit scores and less money saved for a down payment.
2. USDA Loan – are for lower-income borrowers in rural areas (but check with us you may not realize you are in a rural area 🙂
3. VA Loan – this is a great option for those who have service in the military and their families as it allows no down payment!
4. Fannie Mae/Freddie Mac Loan – these are conventional loans that are a good option for those with good credit scores but can put down as little as three percent.
5. Good Neighbor Next Door Loan – this HUD program provide aid for first responders and teachers.
6. FHA Section 203k Loan – if you are getting a fixer-upper this is a great option as home improvement costs can be rolled into the FHA primary mortgage.
7. HomePath ReadyBuyer Program – this is program pays ups to 3% of closing cost assistance for Fannie Mae properties in foreclosure (you must complete an educational course as well)
8. Native American Direct Loan – this program is for Native American veterans on federal trust land.
9. Energy-efficient Loans – there are a few federal programs that allow for savings on homes rated as energy efficient or loans that allow the borrower to add efficiency upgrade costs into the primary mortgage.
10. Local State and City Programs – last but definitely not least there are many local options people often don’t know about that can provide assistance to first time home buyers!

Check with us and we can review your situation and help you decide if any of these are a good fit!

We know 2020 has already been spooky! So we are wishing you and your family a safe and happy Halloween! No tricks – all treats! 👻

We are often asked about whether borrowers should take out a 15 or 30 year mortgage. You may have noticed rates on a 15 year mortgage are amazingly low. Lower rate is better right? Well its not quite that simple. Most people actually get a 30 year mortgage. Lets review the pros and cons.
The main pros of a 15 year mortgage are the aforementioned lower rate. You are also paying less in interest over the lifetime of the loan. For example a $200,000 mortgage at 15 years with today’s current rates you’d be looking at less than $45,000 in interest. While the same loan at 30 years you’d pay over double that, over $100,000 in interest over the life of the loan. You also have the benefit of paying of the loan free and clear in half the time.
Sounds great, why don’t people do it more? Well the kicker is higher monthly payments. Most people are looking for lower payments. The above loan for 30 years would have a monthly payment around $850, while the 15 year loan would have a monthly payment of over $1300. That’s a big difference to most people.
If you’re already saving comfortably for retirement, college, have savings and little other debt then the 15 year might be the call. But most people are looking for financial flexibility and the much lower monthly payment, hence the popularity of the 30 year term. But either way rates are low and we recommend taking advantage, so fill out the free consultation on our website and we can see what program best fits your needs!

You’ve probably heard that interest rates are currently at record lows. You’ve probably also heard 2020 is a year like no other. Many people are asking about cash out refinancing or getting a home equity line of credit.
Here are is quick breakdown of the similarities and differences between the two loan types.
Both allow you to get cash out immediately and in both cases you are borrowing against the equity in your home.
The major differences is with a cash out refinance, you are replacing your first loan with a new one and the home equity loan is a second loan to your existing first mortgage and an additional payment.
Cash out refinancing generally has a lower interest rate, as it replaces the existing first loan and is seen as less exposure to lenders.
Please contact us for a free custom evaluation and we can quickly review your case to see how much cash you qualify for and see what program works best for you!

If you’re self employed getting a mortgage secured is a slightly different process than traditional mortgages. It often comes with additional requirements and red tape.
Here are some tips to help you get organized and approved if you’re self employed!

Apply For A Mortgage When Your Income is Up
We know this is easier said than done but lenders will look at your last two years income most closely, and if you’re income fluctuates its best to apply on an up year. This can help you qualify for a greater loan amount and lower interest rate.

Get That DTI Lower
Your debt-to-income ratio is one of the key factors in getting approved. So you’ll want to try to pay down debts (both business and personal) as well as avoid opening new lines of credit a few months before applying.

Don’t Mix Business and Personal
Keep your business and personal finances separate. Have separate bank and credit card accounts for your business and personal use. This will help lenders easily see the business income and expenses as well as show you are running your business in a professional manner.

Contact A Mortgage Professional
Give us a call or contact us from our pre-qual app and we can see what product best fits your needs. You may be a candidate for QM (Qualified Mortgage) or non-QM lender, either way we can review and help you get started!

Wishing you and your family a safe and joyful holiday!

Its December already and we know you’re busy in the holiday season but here a few tips for you!
Many people have unclaimed money – here’s a link to a site that help you find the link to your state site to do a free search of potentially unclaimed money you might have overlooked! 🤦‍♂‍
https://unclaimed.org/
Its the season of giving so make sure you make your charitable contributionS for the year by the end of the month 🙂
So stay warm and remember its a festive time so don’t get too stressed shopping and planning that you forget to enjoy a hot chocolate and ugly sweater with friends and loved ones!

Happy Thanksgiving 2019!
We wish you and your family a day full of good food and good times. And remember take the time to give thanks for the little things 🙂
🦃

We thank all those who served and are serving!
Thank you for your duty!
Happy Veterans Day!

November is here and fall is too 🍂
Here’s a few tips to get you ahead of the game!
Remember November 3rd we roll back the clock – at least you’ll get an extra hour of sleep 😴
If you have a work based HSA account that expires at the end of the year then make that dentist or doctor appointment you’ve been putting off 🩺
If your finances have changed recently, make sure to do some year-end tax planning to minimize your liability.
Now we all know the holidays are coming, so maybe you want to rest at home before it all starts. New to streaming is a fun holiday animated film Klaus and for the adults the Irishmen maybe the next classic (at least you hope so its clocking in at 3 and ½ hours 🥱
Remember rates are still much lower than even a year ago! So if you’re thinking about purchasing a new home or want to see how much you can save by refinancing reach out to us today for a free consultation!