Loan Programs
Conventional
- 3% down payment for first-time homebuyers
- National loan limit for one unit $726,200 effective January 01, 2023
- Single family homes, townhouses, condominiums and multi-family up to 4 units
- Owner occupied, second home and investment property
- No mortgage insurance (PMI) with 20% down payment or more
- No foreclosure in the last 7 years
- No short sale in the last 4 years
- No bankruptcy in the last 4 years
FHA
- 3.5% down payment
- Credit score as low as 580
- All closing costs and down payment can come from a gift
- Seller is allowed to pay up to 6% of buyer's closing costs
- $557,750 Loan limit for one unit in Miami-Dade, Broward and Palm Beach effective January 01, 2023, call your loan officer for loan limits in other counties
- No foreclosure in the last 3 years
- No short sale in the last 3 years
- No bankruptcy in the last 2 years
VA
- 100% financing (no down payment required)
- Veteran applicant must have sufficient VA entitlement to qualify for the 100% financing, call your loan officer for more information
- No foreclosure in the last 2 years
- No short sale in the last 2 years
- No bankruptcy in the last 2 years
Jumbo
- These are loans over $728,200
Non-QM mortgage
- No employment & No income mortgage
- Bank statement only
- DSCR - investment cash flow
- VOE program
- 1099 with NO tax returns
Foreign National
- Contact your loan officer for details and guidelines
Reverse Mortgage
- Seniors 62 years or older - owning a primary home
- Federally insured government program (FHA)
- Pay off your present mortgage loan
- Never make mortgage payments again
- Receive money at closing
- Consolidate debts, pay off credit cards, etc.
- Owner keeps title to the property, heirs will inherit
- To obtain more information and arrange a presentation, please contact your loan officer
