loan types

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An FHA loan is a mortgage loan that is insured by the Federal Housing Administration (FHA). Essentially, the federal government insures loans for FHA-approved lenders in order to reduce their risk of loss if a borrower defaults on their mortgage payments.

The FHA program was created in response to the rash of foreclosures and defaults that happened in 1930s; to provide mortgage lenders with adequate insurance; and to help stimulate the housing market by making loans accessible and affordable.

I'm here to make the FHA home loan process easy, with tools and knowledge that will help guide you along the way.

A VA loan is a mortgage loan in the United States guaranteed by the U.S. Department of Veterans Affairs (VA). The loan may be issued by qualified lenders. The VA loan was designed to offer long-term financing to eligible American veterans or their surviving spouses (provided they do not remarry).

We’re here to make the VA home loan process easier, with tools and knowledge that will help guide you along the way. I’ll help you clearly see differences between loan programs, allowing you to choose the right one for you whether you’re a first-time home buyer or a repeat buyer.

Before applying for a home loan, it is important to determine the best financial option for you. Conventional mortgages are loans that aren’t guaranteed or insured by the federal government. You may also refer to this type of loan as a non-GSE (non government sponsored entity) loan. Also known as a conforming mortgage, the conventional loan complies with the parameters set by Freddie Mac and Fannie Mae. You may obtain either an adjustable or fixed rate while your maximum loan amount is determined by the county and state of the home.

The word “conforming” is commonly used when discussing mortgage amounts. This is why conforming and conventional mortgages are considered interchangeable. A loan that exceeds the maximum loan amount is considered a jumbo loan or non-conforming mortgage.

 A home equity line of credit, or HELOC, is a second mortgage that gives you access to cash based on the value of your home. (It can also be a primary mortgage if you own your home outright.) You borrow against your equity, which is the home’s value minus the amount you owe on the primary mortgage. You can usually borrow up to 85% of your equity. I offer HELOC's up to $750,000.

Many real estate investors have trouble qualifying for mortgage loans at reasonable rates. They're often forced into hard-money loans with a rate of 10, 11, 12% or higher. I can solve that problem for you. Unlike traditional banks, I offer Debt Service Coverage Ratio (DSCR) loans. As long as the rental income covers your debt service, you’ll qualify. I offer 30/40-year fixed-rate loans from $100,000 thousand to $3,000,000. No personal income or tax returns needed, and you’ll never sign a 4506. You can even fund into a Trust or an LLC and non-warrantable condos are welcome.

 A bridge loan is a short-term loan used to purchase real estate, take cash out,  fix it up, then quickly sell it for a profit once you've upgraded the property. With a bridge loan, you'll be able to beat out other buyers with a "cash offer", and you can expect to close in as little as 7 days.

 Construction loans are loans that fund the building of a residential or commercial buildings, from the land purchase to the finished structure. Common types are a standalone construction loan, a short-term loan (generally with a 12 mo - 18 mo term) — which only finances the building phase, and a construction-to-permanent loan, which converts into a mortgage once the construction is done. Borrowers who take out a standalone construction loan often get a separate mortgage to pay it off when the principal falls due. 

A reverse mortgage is a loan for seniors age 62 and older. HECM reverse mortgage loans are insured by the Federal Housing Administration (FHA) and allow homeowners to convert their home equity into cash with no monthly mortgage payments.

I'm here to make the reverse mortgage process a whole lot easier, with tools and expertise that will help guide you along the way.  I’ll help you clearly see differences between reverse mortgage options, allowing you to choose the right one for you.