Find the Best Option to Finance Your New Home
During your home search, understanding the diverse range of loans available is crucial. Each loan comes with unique features, up-front costs, interest rates, and incentives.
Conventional Fixed Rate Loans
The most popular mortgage option, offering predictable payments for the entire loan term.
- Competitive interest rates for cost-effective borrowing.
- Locked interest rate throughout the mortgage term.
- Ideal for first-time buyers with straightforward terms.
FHA Loans (Federal Housing Administration)
Relaxed underwriting standards, lower down payment, and flexible restrictions.
- Assistance from friends or family for down payment.
- Less strict underwriting, understanding past credit issues.
- FHA Direct Endorsement Lender with streamlined processes.
Adjustable Rate Mortgages (ARMs)
Initial low interest rates and affordable monthly payments with potential future adjustments.
- Lower initial mortgage payment.
- Flexibility for those planning to move, relocate, or expect income growth.
- Rate locks up to 10 years for stability.
Veteran Financing (VA Loans)
Tailored loan options for veterans with VA Automatic Lender capability for faster approvals.
- Open to all veterans with minimum active duty service.
- VA loan amounts based on VA limits and unused entitlement.
- Funding fee ranges from 2% to 3% depending on the down payment.
- Veterans may obtain 100% financing under certain circumstances.
Contact Sea Glass Properties to get started on your home search.
Information provided should not be considered as a commitment to lend. Offer subject to property and credit approval. Program and other restrictions may apply. Please contact your Loan Consultant for further details.