CONVENTIONAL
A conventional mortgage or conventional loan is a home buyer's loan that is not offered or secured by a government entity. It is available through or guaranteed by a private lender or the two government-sponsored enterprises—Fannie Mae and Freddie Mac. This product is used for purchasing a primary home, second home, or an investment property.
FHA
A Federal Housing Administration (FHA) loan is a
mortgage that is insured by the Federal Housing Administration (FHA) and issued by an FHA-approved lender. FHA loans are designed for low-to-moderate-income borrowers; they require a lower minimum down payment and lower credit scores than many conventional loans. Because of their many benefits, FHA loans are popular with first-time home buyers.
USDA
USDA loans are home loans issued or guaranteed by the United States Department of Agriculture. These loans are part of the USDA’s Rural Development program, meant to encourage homeownership in small communities across the U.S. by offering low-interest, low-down-payment mortgages to borrowers with low to moderate incomes.
ONE TIME CLOSE CONSTRUCTION LOAN
A construction loan is a short-term, interim loan to pay for building a home. As work progresses, the lender pays out the money in stages, called draws. You are allotted a 12-month period to complete construction. An approved state licensed contractor is required for all projects. This product is used for purchasing a primary home or a second home .
**Available currently in Alabama and Florida
DSCR/DEBT SERVICE RATIO COVERAGE
Our DSCR program focuses on the property’s cash flow, so no other income documentation is required. We use the rental comps for the home and area to determine the rental income. The rental income needs to be equal to or less than the full mortgage payment including principal, interest, homeowner’s insurance, taxes, HOA fees, etc. This product is used for purchasing an investment
FIX & FLIP
​
The Fix & Flip option allows investors to purchase properties for renovations and to either sell or retain as rental properties. You are allotted a 12-month period of interest only payments to complete renovations and/or construction. An approved state licensed contractor is required for project. This product is used for purchasing an investment property.
INTEREST ONLY-FIXED RATE LOAN
This program can be combined with a few of our other loan options mentioned previously. Choosing this option allows you to pay interest only payments for 5-10 years of your fixed 30–40-year loan term. This option gives you leverage by allowing you to maintain a larger cash flow while securing a fixed rate loan. This product is used for purchasing a primary home, second home, or an investment property.
RENOVATION
This option allows you to get the funds needed to buy the property AND the funds you need to make the renovations/repairs on your house. It's all rolled up into one mortgage with affordable monthly payments. You are allotted a 12-month period to complete renovations and/or construction. An approved state licensed contractor is required for all projects. This product is used for purchasing a primary home, second home, or an investment property.
**Available currently in Alabama and Florida
VA
A VA loan is a mortgage loan that is backed by the U.S. Department of Veterans Affairs. These loans are available to people who are actively serving in the military or who have served and received an honorable discharge. Family members of service personnel also may qualify for a VA loan. VA loans make it easier for veterans to obtain the financing to buy a home. This product is used for purchasing a primary home.
JUMBO
A jumbo loan is a mortgage that exceeds conforming loan limits set by the Federal Housing Finance Administration. It might sound like the stuff of millionaires, but that's not necessarily true. While it is a larger debt than most mortgages, a jumbo loan may be your best choice depending on your income, the price of the home you want to buy and the menu of loan options available to you. This product is used for purchasing a primary home, second home, or an investment property.
CONDOTELS
A condotel is a building that’s legally operating as a condominium but also functions as a hotel. It offers a front desk to offer services. Condotels are typically high-rise buildings which are developed and operated as a luxury hotel and are usually found in major resorts areas. This review will still utilize the condo projects stability, business and HOA setup, budgets, etc. to determine eligibility, but it is different to the other condo options. This product is used for purchasing a primary home, second home, or an investment property.
ASSET UTILIZATION
This product option is for those clients with great credit, but no steady income, and may qualify by using their assets. To qualify we would divide your assets over 5 years/60 months to determine your income. This product is used for purchasing a primary home, second home, or an investment property.
NON-WARRANTABLE CONDO
A non-warrantable is any condo that doesn’t meet all of Fannie Mae or Freddie Mac’s qualified lending requirements. This review is a little more relaxed than the warrantable condo but still utilizes the condo projects stability, business and HOA setup, budgets, etc. to determine eligibility. This product is used for purchasing a primary home, second home, or an investment property.
BANK STATEMENT PROGRAM
Our bank statement loans offer individuals an opportunity to utilize their true income by using their bank statements for their income documentation. This product is especially great for most self-employed borrowers or 1099 employees, as it will not require the use of tax returns for income calculations. You have the option of choosing a 12- or 24-month bank statement review. This product is used for purchasing a primary home, second home, or an investment property.