There are a number of different types of home loans available to you, and it can pay to familiarize yourself with them. Luckily we're here to help you choose the best type of home loan for your needs.
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The most common type of loan option, the traditional fixed-rate mortgage includes monthly principal and interest payments which never change during the loan's lifetime.
Adjustable-rate mortgages include interest payments which shift during the loan's term, depending on current market conditions. Typically, these loans carry a fixed-i...
Interest only mortgages are home loans in which borrowers make monthly payments solely toward the interest accruing on the loan, rather than the principle, for a specif...
Graduated Payment Mortgages are loans in which mortgage payments increase annually for a predetermined period of time (e.g. five or ten years) and...
A conventional loan is a type of loan that is not insured by the government. Conventional loans offer more flexibility and fewer restrictions for borrowers, especially those borrowers with good credit and steady income.
FHA home loans are mortgages which are insured by the Federal Housing Administration (FHA), allowing borrowers to get low mortgage rates with a minimal down payment.
VA loans are mortgages guaranteed by the Department of Veteran Affairs. These loans offer military veterans exceptional benefits, including low interest rates and no ...
A jumbo loan is a mortgage used to finance properties that are too expensive for a conventional conforming loan. The maximum amount for a conforming loan is $766,550 in...
A loan for spec construction refers to a single-family residence developed by a real estate investor to be sold for profit. Investing in speculative real estate is similar to buying and flipping homes— except instead of remodeling a building that is already there, investors will purchase an empty lot and start from scratch.
A fix and flip loan is intended to provide investors with the funds they need to purchase a distressed or undervalued property, make necessary improvements and upgrades and sell the property for a profit within a short period.
Fix & Flip loans can also be a lucrative opportunity for skilled real estate investors looking to generate returns relatively quickly.
Empowered By Nexa means you have options, such as a 0% Down VA Construction Loan, or a 3.5% Down FHA Construction Loan.
Or, even more options with a 5% Down Conventional Fixed Loan on Owner Occupied Homes, with additional options for Second Homes and Investment Properties.
A Home Renovation Loan offers borrowers an affordable and cost effective loan to finance homes that need repair.
We offer FHA 203K rehab loans, Fannie Mae's Homestyle Renovation Loans, and Freddie Mac's Choice Renovation Loans.
Investment Property Loans are designed to purchase investment properties either in an investor's name, or as a separate legal entitiy such as an LLC.
We provide both Fannie Mae and Freddie Mac Investment Property loan options, as well as options that don't require income verification such as DSCR (Debt Service Coverage Ratio) Loans for single family and Business Purpose Loans, such as AirBNB rental loans.
The Smarter Way To Borrow.
If you are like most Americans, you probably earn more in 5 years than you owe on your mortgage. The All-In-One Loan is designed to pay off your home significantly faster than a traditional mortgage, and save you thousands, hundreds of thousands, versus a traditional mortgage.
Cash is a depreciating asset, and traditional mortgages cost large amounts of interest, with interest paid in arrears, which front loads your interest payments and delays progress building home equity. The All-In-One Loan is a solution to both obstacles because it combines the two into one fluid financial instrument.
The Buy Now Sell Later program eliminates the "Pending Sale" contingency offer which kills many purchase offers. The Buy Now Sell Later Loan eliminates the "Pending Sale" by allowing you to tap into the equity in your current home before you sell, and eliminates the Debt-To-Income burden of including your current home's mortgage payments when your new home loan is being underwritten.
The Bank Statement program is a loan created for self-employed borrowers who can’t qualify for a conventional loan due to tax write-offs that don’t show their true income when analyzing tax returns.
Reverse Mortgage Loans are for those borrowers 62 or older who are looking to either: unlock the equity in their current home to eliminate their monthly principal and interest payment, or use a large one-time down payment (selling current home and downsizing) to purchase a new home with zero principal and interest payments for as long as their own their home.
The Smarter Way To Borrow.
If you are like most Americans, you probably earn more in 5 years than you owe on your mortgage. The All-In-One Loan is designed to pay off your home significantly faster than a traditional mortgage, and save you thousands, hundreds of thousands, versus a traditional mortgage.
The Buy Now Sell Later program eliminates the "Pending Sale" contingency offer which kills many purchase offers. The Buy Now Sell Later Loan eliminates the "Pending Sale" by allowing you to tap into the equity in your current home before you sell, and eliminates the Debt-To-Income burden of including your current home's mortgage payments when your new home loan is being underwritten.