At Veterans Mortgage of America, we offer a full line of mortgage products. The list below is just a few of our mortgage menu items. Contact your Loan Professional to learn more.
VA Loans
A VA loan is a specific loan program authorized by the US Dept. of Veterans’ Affairs to help veterans and active-duty service members and their families purchase or refinance a home. This loan option allows military families to qualify for a home loan with fewer restrictions, and little-to-no money down.
FHA Loans
Federal Housing Administration (FHA) home loans were created to make it easier for home owners to qualify for a loan – whether you are buying a home or refinancing your mortgage. They are also ideal for people who do not qualify for a VA loan and desire a secure government-insured home loan and need to finance more that 80% of their home value. With an FHA mortgage, your credit score can be lower and you can buy a home with a down payment as little as 3.5%.
Conventional Fixed Rate Mortgage
This is a mortgage in which the interest rate does not change for the life of the loan. These are available for 30, 20, 15 and 10 year terms, and the payment amount will remain fixed throughout the term of the loan. The most common fixed-rate mortgages have a 15- or 30-year duration.
Hybrid Adjustable Rate Mortgage (HARM)
A mortgage in which the interest rate is fixed for a specified period of time, and then adjusts after the fixed period expires (payment could then increase or decrease). For example, for a 5/1 HARM, the rate will stay the same for the first 5 years and will then adjust in year 6. HARM products generally range from 3, 5, 7 and 10 years, and are an alternative to a fixed rate mortgage. These products typically offer lower initial interest rates than you’d be able to obtain with a fixed rate mortgage..Jumbo Loan
If you require a home loan that’s over the conforming limit of $806,500, you will probably need a Jumbo mortgage. Jumbo loans offer the same flexibility as conforming loans (fixed and ARM products), however they are not eligible for purchase by Fannie Mae or Freddie Mac and must be sold in the secondary market. This means that the rates for Jumbo loans will be slightly higher than home loans with similar terms that are conforming loans. Jumbo loans are often referred to as non-conforming loans.
Non-Qualified Mortgage Products
At Veterans Mortgage of AmericaTM, we have a multitude of other loan products for even the hardest to qualify using one of our many ‘non-qualified’ mortgage products. Contact a VMA loan representative today at: 1-484-838-5626 or email us at [email protected].
USDA Loan
USDA Loans offer flexible options as either Fixed Rate or Adjustable Rate mortgages. You may qualify with less than perfect credit. Buying a home with little or no down payment can provide opportunities for buyers that otherwise may not be able to become homeowners.DSCR Loans for Investors
DSCR loans have emerged as a crucial financial tool for real estate investors, particularly those targeting rental properties. Unlike traditional loans, DSCR loans are based on the property’s anticipated cash flow instead of the borrower’s personal income.
Rehab Loans
Add the costs of renovation into your loan in one simple step with either a purchase or refinance.
