🏡 Explore Your Mortgage Loan Options

Buying a home is one of the biggest financial decisions you’ll make, and choosing the right mortgage loan is essential. Understanding your options can help you secure the best terms and interest rates, making homeownership more affordable.

📌 Down Payment Assistance (DPA) for First-Time Homebuyers

💰DPA Forgivable Loan
* Designed for first-time homebuyers who need help with their down payment.
* This loan can be fully forgiven after a certain period, meaning you don’t have to repay it if you meet the conditions.
* Helps buyers afford a home without saving for years.
💰 FHA DPA (Down Payment Assistance) with Payment
* Provides down payment assistance, but it comes with a repayment structure over time.
* Works alongside an FHA loan, making homeownership accessible with lower upfront costs.

🏠 Conventional Loan Options

A Conventional Loan is a mortgage not backed by the government (unlike FHA or VA loans). These loans are offered by private lenders and meet the guidelines set by Fannie Mae and Freddie Mac. They are ideal for buyers with good credit, stable income, and a low debt-to-income ratio who want lower long-term costs compared to government-backed loans.
🏡 Down Payment as Low as 3% – Great for first-time buyers using HomeReady or Home Possible programs.
📉 No Upfront Mortgage Insurance (Unlike FHA Loans) – Saves thousands in closing costs.
📈 Lower Long-Term Costs – Mortgage insurance can be removed at 20% equity, unlike FHA loans, where it lasts for the life of the loan.
💰 Higher Loan Limits – Can finance higher-priced homes than FHA loans.
📄 Can Be Used for Primary, Secondary, or Investment Homes – More flexibility than government-backed loans.

🎖 VA (Veterans Affairs) Loan

A VA Loan is a government-backed mortgage offered by the U.S. Department of Veterans Affairs (VA). It is designed to help active-duty service members, veterans, and eligible military spouses buy a home with zero down payment, no mortgage insurance, and competitive interest rates.
🎖 No Down Payment Required – 100% financing available for eligible buyers.
📉 No Private Mortgage Insurance (PMI) – Unlike FHA or conventional loans, VA loans do not require mortgage insurance, reducing monthly payments.
📈 Flexible Credit Requirements – No strict credit score requirement, but most lenders prefer 580-620+.
💰 Competitive Interest Rates – VA loans typically offer lower rates than conventional loans.
🔄 No Prepayment Penalties – You can pay off your loan early without extra fees.
🏡 Can Be Used for Buying, Refinancing, or Building a Home – VA loans cover single-family homes, condos, and even some multi-unit properties (as long as you live in one unit).

🏡 FHA (Federal Housing Administration) Loan

An FHA Loan is a government-backed mortgage insured by the Federal Housing Administration (FHA). It’s designed to help first-time homebuyers and those with lower credit scores qualify for home financing with lower down payments and flexible requirements.
🏡 Low Down Payment – Only 3.5% down for buyers with a 580+ credit score.
📉 Flexible Credit Score Requirements – Buyers with scores as low as 500 can qualify with 10% down.
📈 Higher Debt-to-Income Ratio Allowed – FHA loans allow higher DTI ratios, meaning buyers with more debt can still qualify.
💰 Competitive Interest Rates – Since FHA loans are government-backed, they often come with lower interest rates than conventional loans.
🔧 FHA 203K Option Available – Allows buyers to finance home repairs and renovations into the mortgage.

🆔 ITIN Loans

An ITIN Loan is designed for non-U.S. citizens or residents who do not have a Social Security Number (SSN) but have an Individual Taxpayer Identification Number (ITIN). This loan allows individuals who are working, paying taxes, and living in the U.S. to buy a home without needing traditional U.S. documentation.

🏡 No SSN Required – Approval is based on an ITIN number instead of a Social Security Number.
💰 Alternative Income Verification – Lenders accept bank statements, tax returns, or pay stubs to prove income.
📈 Low Down Payment Options – Some lenders allow as low as 10-20% down.
🌎 Available for Residential & Investment Properties – ITIN borrowers can finance primary homes, vacation homes, and even rental properties.
🔹 Flexible Loan Terms – Fixed and adjustable-rate mortgage options available.

🚀 Bridge Loans – Financing Your Next Home Before Selling Your Current One

A Bridge Loan is a short-term loan that helps homeowners buy a new home before selling their current one. It acts as a temporary financial bridge, allowing you to move into your new property without waiting for your old home to sell.

🔹 How Does a Bridge Loan Work?
1️⃣ Use Equity from Your Current Home – A bridge loan allows you to borrow against the equity in your current home.
2️⃣ Get Funds for a New Home Purchase – The loan covers the down payment & closing costs on your new property.
3️⃣ Pay Off the Loan When You Sell Your Old Home – Once your current home sells, you repay the bridge loan in full.

🏡 Unique ADU & Multiple ADU Loans – Financing for Extra Living Spaces

An ADU (Accessory Dwelling Unit) Loan helps homeowners finance building, buying, or refinancing properties with additional living spaces. These loans are great for those who want to:
✅ Build an extra unit on their property for rental income or family use.
✅ Purchase a home with an existing ADU and finance it properly.
✅ Refinance to remodel or legalize unpermitted ADUs.

🔹 What is an ADU?
🏠 Guest House or Granny Flat – A detached home in the backyard.
🏢 Converted Garage or Basement Apartment – A separate living space inside the main house.
🏡 Tiny Home or Backyard Cottage – A small unit used for rental or extra family space.

📈 DSCR (Debt Service Coverage Ratio) Investor Loan

* Designed for real estate investors—approval is based on the rental income of the property rather than personal income.
* No need for pay stubs or tax returns – the loan is approved based on how much rental income the property generates.
* Ideal for investors growing their portfolio – easier qualification compared to traditional loans.
* Great for single-family, multi-family, and commercial properties.
If you’re an investor looking to buy more properties with a simple approval process, a DSCR Loan could be the perfect fit!

💼 Non-QM (Non-Qualified Mortgage) Loan Programs

* Alternative financing for borrowers who don’t fit traditional loan guidelines.
* Includes options like:
Bank Statement Loans (for self-employed borrowers).
DSCR Loans (for investors).
Asset Depletion Loans (use assets instead of income for qualification).
No Income, No Asset Loans (for special financial situations).
* Offers more flexible guidelines to accommodate different financial situations.

🏦 HELOC (Home Equity Line of Credit)

A HELOC (Home Equity Line of Credit) allows homeowners to borrow against the equity in their home while keeping their existing mortgage in place. Think of it like a credit card backed by your home—you can withdraw funds as needed and only pay interest on what you use.

🔹 How Does a HELOC Work?
🏡 You Get Approved for a Credit Line – Your lender will determine how much equity you can borrow, usually up to 80-90% of your home’s value (minus your existing mortgage).
💳 You Can Withdraw Funds As Needed – Unlike a lump-sum loan, a HELOC lets you borrow, repay, and borrow again within the draw period (typically 5-10 years).
📉 Interest-Only Payments During Draw Period – You only pay interest on the amount you use, keeping payments low.
⏳ Repayment Period Begins After Draw Period Ends – Once the draw period is over, you’ll start repaying the principal plus interest over 10-20 years.

🌎 Foreign National Loans – Mortgage Solutions for Non-U.S. Residents

A Foreign National Loan is designed for non-U.S. citizens who want to buy property in the United States but may not have a Social Security Number, U.S. credit history, or U.S. income. These loans allow international investors and foreign buyers to enter the U.S. real estate market without the typical documentation required for traditional mortgages.
* Allows non-U.S. residents to buy real estate in the U.S. with flexible requirements.
* No U.S. credit history required.
* Designed for international investors looking to own property in the U.S. market.

🏗 Construction Loans

* Financing for building a new home from the ground up.
* Covers land purchase, construction costs, and permanent financing.
1️⃣ Loan Approval & Budgeting – You get approved based on the total estimated cost of construction.
2️⃣ Funds Are Released in Stages – Instead of receiving the full amount at once, money is paid to the builder in phases as construction progresses.
3️⃣ Interest-Only Payments During Construction – You only pay interest on the funds used, reducing upfront costs.
4️⃣ Final Mortgage Conversion – Once the home is built, the loan converts into a regular mortgage (construction-to-permanent loan), or you refinance into a traditional loan.

FHA 203K Loan (Renovation Loan)

An FHA 203K Loan is a renovation loan that combines the cost of purchasing (or refinancing) a home and the cost of repairs/renovations into one mortgage. It’s perfect for buyers who want to buy a fixer-upper or homeowners looking to make major upgrades to their property without taking out a separate loan.

🔹 How Does an FHA 203K Loan Work?
1️⃣ Find a fixer-upper or a home needing upgrades, an FHA 203K loan covers both the purchase price + renovation costs.
2️⃣ Get Approved for the Loan based on the future value of the home after renovations.
3️⃣ Hire Contractors & Plan Renovations – Work with licensed contractors to create a renovation plan.
4️⃣ Receive Funds in Stages by phases as work is completed.
5️⃣ Enjoy Your Upgraded Home! – Once renovations are finished, your loan converts into a regular FHA mortgage with one manageable payment.

🏢 Mixed-Use Home Loans – Financing for Properties with Both Living & Business Spaces

A Mixed-Use Home Loan is designed for properties that serve both residential and commercial purposes. If you’re purchasing or refinancing a building where you live in one part and run a business in another, this type of loan helps you finance the entire property under one mortgage.

🔹 What is a Mixed-Use Property?
🏠 Apartment Over a Retail Store – Living upstairs and renting or running a business downstairs.
🏢 Home + Office Space – A property with a dedicated workspace for a business.
🍽️ Live-In Restaurant or Café – A small business owner running a shop while living on-site.
🛍️ Multi-Unit Building with Storefronts – A building with both rental apartments and commercial units.

💰 How to Choose the Right Mortgage Loan

📌 Consider Your Credit Score – A higher score qualifies for better rates.
📌 Evaluate Your Down Payment Options – Some loans require no down payment, while others need 20%.
📌 Think About Loan Term Length – A 15-year loan saves interest but has higher monthly payments, while a 30-year loan offers lower payments.
📌 Compare Interest Rates – Fixed-rate loans provide stability, while adjustable-rate loans may start lower but can fluctuate.

loan COMPARISON table

Loan Type	Minimum Credit Score	Down Payment	Debt-to-Income Ratio (DTI)	Mortgage Insurance Required?	Property Type Allowed	Special Benefits
FHA Loan	580+ (3.5% down) or 500-579 (10% down)	3.5% (580+) or 10% (500-579)	Up to 50%	Yes, for life of loan unless refinanced	Primary residence only	Low down payment, flexible credit
VA Loan	580+ (some lenders accept lower)	0% (No down payment required)	Typically 41-50%	No	Primary residence only	No down payment, no PMI, low interest rates
Conventional Loan	620+ (700+ preferred for best rates)	3-5% (Primary residence), 20% (Investment)	Up to 43-50%	Yes, if less than 20% down (PMI can be removed)	Primary, second homes, investment properties	Lower costs over time, PMI removal
ITIN Loan	No SSN required, ITIN needed	10-20%	Flexible, varies by lender	No	Primary residence only	No SSN required, alternative income accepted
Foreign National Loan	No U.S. credit history required	25-40%	Flexible, varies by lender	No	Primary or investment properties	Allows foreign buyers to invest in U.S. real estate
HELOC	Varies, typically 620+	No down payment (borrow against home equity)	Not applicable (line of credit)	No (HELOC functions as a credit line)	Existing home equity (not for purchases)	Access to home equity for expenses
DSCR Investor Loan	No credit score required (loan based on property income)	20-25%	Based on rental income, not personal DTI	No	Investment properties only	No income verification needed, great for investors
Non-QM Loan	Varies by program (typically 600+)	10-30% depending on program	Flexible, varies by lender	No	Varies (self-employed, alternative financing)	Flexible qualification, good for self-employed
FHA 203K Loan	580+ (for renovation loan)	3.5% (like FHA)	Up to 50%	Yes, like FHA	Primary residence (renovation loan)	Covers home purchase + renovation costs
Bridge Loan	Varies, usually 680+	Typically 20-25%	Varies, typically 50% or lower	No	Primary or investment properties	Helps buyers purchase a new home before selling the old one
Mixed-Use Home Loan	620+	15-25%	Varies, typically 45-50%	No	Mixed-use properties	Allows financing for live/work spaces
ADU Loan	Varies by lender	10-25%	Varies, based on loan type	No	Homes with ADUs or multiple units	Finances ADUs & multiple unit homes
Construction Loan	680+ preferred	Varies, typically 20-30%	Up to 50%	No	New construction	Covers land purchase + home construction

Why Work with Us?

✔ We help you find the best loan for your financial situation.
✔ Personalized guidance through the entire loan process.
✔ Access to competitive interest rates and loan programs.
✔ Expertise in helping first-time buyers, investors, and self-employed borrowers.

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