In today’s real estate market, there are many different mortgages available for you to choose from. If you are thinking about purchasing a home, you can call RREA’s in house lender today to see what type of loan products you qualify for. Our in house lender, Terry Traylor, can help you determine your mortgage limit, interest rate, and what product will best meet your home purchasing needs.
There are a variety of mortgage loans available. There are Jumbos for loans over $417K. There are loans for investors that allow homes to be flipped before the 90 day limit. For first time home buyers, there are Down Payment Assistance Loans that help with closing costs. For Foreign Nationals that are non-U.S. Citizens there are loans that allow them to purchase second homes in the U.S. With the 203K Loan people can make improvements before or after closing. The HomePath Program was designed for Foreclosed Fannie Mae owned properties. The REO Extended Lock Program helps homeowners purchase a short sale or REO property by allowing an extended interest rate lock. The credit 580 Program increases the FHA guidelines to include borrowers with credit scores between 580-639. Dissipating Asset Programs provide asset-rich clients the ability to qualify with no income up to a maximum loan amount of $5 Million while the Pledged Asset Mortgage allows borrowers to pledge eligible assets in lieu of a down payment, second mortgage or a home equity loan to cover normal down payment requirements. And you thought there were only FHA, Conventional, and VA Loans! Today’s lender has lots of options for you to take advantage of. Call today to find out more -281-288-3500.
