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Purchase

There are different types of mortgage products you can use to purchase a home. Here are some of the ways we can help.

Hard Money

Rates: High

Advantages: All cash offers, can buy properties with significant damage, close fast with little hassle

Ideal for: Investors, developers, rehabbers, bankruptcy

FICO: No FICO options

Max Loan to Value (LTV): 25-30% and above

Non-QM

Rates: Medium

Advantages: No income and no FICO options with better rates than hard money

Ideal for: Alternative income earners, investors, developers, rehabbers

FICO: No FICO options

Max Loan to Value (LTV): 15% and above

Conventional

Rates: Low

Advantages: Very good rates, relatively low down payment, lower mortgage insurance premium (MIP)

Ideal for: Traditional income (W2 and bank statement), solid FICO score

FICO: 620 and above

Max Loan to Value (LTV): 5% and above

FHA, VA, USDA

Rates: Low

Advantages: Very good rates, low down payment, higher debt-to-income (DTI) ratio allowed (higher MIP)

Ideal for: Low down payment, first time homebuyers, veterans, farmers, inhabitants of rural areas

FICO: 580 and above

Max Loan to Value (LTV): 0% and above

Jumbo

Rates: Medium

Advantages: Good rates, up to $1-2M loan amount, no MIP

Ideal for: Traditional income (W2 and bank statement), solid FICO score

FICO: 640 and above

Max Loan to Value (LTV): 10% and above

Need more help finding the right mortgage product for you? Contact Us now or: