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Federal Housing Administration Loan (FHA) is one of the most popular mortgages for borrowers who need a low down payment and flexible mortgage guidelines.
Reliant Home Funding offers a conventional mortgage ideal for home buyers with good credit and at least 5% Down Payment.
One of the primary benefits of a VA loan is that it offers 100% financing for purchases and refinances without requiring mortgage insurance.
An Adjustable Rate Mortgage (ARM) will only stay at a fixed rate for certain period of time. This product will usually come with a lower rate than a fixed mortgage.
A Fixed Rate Mortgage will have a fixed rate for the life of the loan. If you plan to stay in your home for the long term, sleep tight knowing you will have the stability of a consistent payment that never changes.
A combination of a 1st and 2nd mortgage will allow you to keep you first mortgage at or below 80% LTV to avoid PMI (Private Mortgage Insurance). You can then take a 2nd mortgage for the remaining balance owed.
A Renovation Mortgage will allow you to include renovation costs in your new mortgage. FHA offers the 203K while Fannie Mae offers a conventional alternative called the Home Style
Fannie Mae/Freddie Mac will only lend up to a Loan Amount of $636,150. Loan Amounts above this will require a Jumbo mortgage that will have different underwriting guidelines.
The FHA Streamline program allows borrowers who currently have an FHA mortgage to refinance into a lower payment with No Appraisal and No Income check.
445 Broad Hollow Rd. Suite 334 | Melville | NY | 11747
Reliant Home Funding, Inc | NMLS ID: 292473 | 877-937-6787
Long Island Mortgage Company | Long Island Home Loans | Long Island Mortgage Broker