Loan Programs
Zero Down Financing Still Available!
December 10, 2009 by Rob Spring · Leave a Comment
YES Zero Down Financing is still available. Although the no downpayment programs of today are not as easy to qualify for as a few years ago, they are still around!
-VA still offers the same 100% program
-Conventional programs are also available for the higher credit scoring borrowers (minimum score for conventional 100% - 680) These conventional programs even offer financing [...]
The Benefits of a VA Loan
December 10, 2009 by Rob Spring · Leave a Comment
VA Loans
VA guaranteed loans are made by lenders and guaranteed by the U.S. Department of Veteran Affairs (VA) to eligible veterans for the purchase of a home. The guaranty means the lender is protected against loss if you fail to repay the loan. In most cases, no down payment is required on a VA guaranteed [...]
Hybrid Loans: The Best of Both Worlds
December 8, 2009 by Rob Spring · Leave a Comment
The best of both worlds
Today homebuyers are in a unique position to combine the benefits of a fixed rate mortgage with the savings opportunities of an adjustable rate mortgage. With a hybrid loan (also called a fixed-period ARM or hybrid ARM) you get the best of both worlds.
A hybrid loan gives you a fixed rate [...]
What Does It Take to Get Approved For a Loan?
November 29, 2009 by Rob Spring · Leave a Comment
What does it really take to get approved?
That’s a good question and will depend on a few things. But for the sake of your time we are going to list a few common scenarios that should give you a good idea. Please call or email us with any questions.
1. Anyone looking to purchase that meets [...]
What is an FHA Loan?
November 29, 2009 by Rob Spring · Leave a Comment
What is the FHA?
The Federal Housing Administration is an agency of the federal government. The FHA insures private loans issued for new and existing housing, and for approved programs for home repairs. The FHA was created by Congress in 1934, and in 1965 became part of the Department of Housing and Urban Development’s Office of [...]
FHA Loan Program
November 29, 2009 by Rob Spring · Leave a Comment
FHA Purchase loans are the most popular loan type at Southwest Funding. We close them by the dozens each and every month. There are a few reasons for their popularity:
1. Low out of pocket requirements – You can put as little as 2.25% of the sales price down. That down payment can be a gift [...]
203K Streamline Rehab Loan
November 29, 2009 by Rob Spring · Leave a Comment
203K Streamline Loan –
Limited Rehab Program Overview
The 203(k) streamline loan program gives borrowers the ability to repairs and improvements either to the home that they currently live in, or that special fixer-upper opportunity, without the extra cost or details as found in the regular 203k. One single loan is used to pay for the (purchase or refinance) and the [...]