Loan Programs

As a mortgage consultant for a full service lender, I’m able to offer my clients a complete array of loan products to fit their individual needs, including Conventional, FHA, VA , Construction loans, as well as home equity loans and lines of credit.

Conventional loans are those in which the underlying terms and conditions meet the funding criteria of Fannie Mae and Freddie Mac.  Since many loans are sold on the Secondary Market after they’re closed, they need to meet consistent guidelines to ensure the same level of risk for every investor.  Fannie Mae and Freddie Mac are the federally chartered institutions that facilitate the buying and selling of mortgages among investors.  Fannie and Freddie don’t make loans; they simply serve as the intermediary between those that do and those who buy loans as investment instruments.

FHA loans are those that are insured by the Federal Housing Administration (FHA), which is part of the US Department of Housing and Urban Development (HUD).  Historically, FHA loans have required a smaller downpayment to qualify, allowing many more people the opportunity to buy homes.

VA (Veteran’s Administration) loans are backed by the Veteran’s Administration and are only available to those that are active in the US armed forces or have been in the past.  Eligible veterans can obtain 100% financing for the purchase of a home up to $417,000, and with favorable terms for higher home prices.

Construction loansare - as the name suggests - available for borrowers who are looking to build their own home and need funds for the acquisition of the property and/or for the construction of the home itself.  Also, some borrowers will use this type of financing to fund a major renovation or addition to their current property.