LOAN OPTIONS
WITH OVER 10 DECADES OF COMBINED EXPERIENCE IN THE MORTGAGE INDUSTRY, WE HAVE A FULL RANGE OF SERVICE TO FIT YOUR NEEDS.
Mortgage Loan Programs
Mortgage loan programs are constantly changing, evolving to reflect current market conditions. A licensed, Mortgage Loan Officer with the Kelly Team at Envoy Mortgage will be able to help you determine which program best suits you. The following information will give you a broad overview of the many different types of mortgage loan programs that you could consider. Each home loan program is distinct and has many different requirements that are related to the borrower and also the property. Our Mortgage Loan Officers will be able to further assist and give you the information you need about mortgage loan programs available to you.
PROPERTY TYPES
TYPES OF MORTGAGE LOAN PROGRAMS
CONVENTIONAL/CONFORMING LOANS:
A MORE TRADITIONAL APPROACH TO MEETING YOUR NEEDS
Fannie Mae
•Home Ready Program
•DU Refi Plus
•Homestyle Renovation Fixed Rate Mortgages
•10-, 15-, 20-, 30-year terms
•Available in high-cost areas
Freddie Mac Relief Refi
•No cash-out refinance
•High Loan-to-Value
•Reduced rate and/or term benefit to borrower
Fannie Mae HomePath Mortgage
•No MI
•No appraisal
•Fannie Mae owned properties
•Available in high-cost areas
Fannie Mae DU Refi Plus
•No cash-out refinance
•Reduced verification and documentation
•High Loan-to-Value
Fannie Mae MyCommunity Mortgage
•Lower down payment requirements
•Lower MI Adjustable Rate Mortgages
•3, 5, 7, 10/1 LIBOR ARMs
•Interest Only option
•Available in high-cost areas
NON-CONFORMING (JUMBOS)
Fixed Rate Mortgages
•15-, 30-year terms
•Loan amount up to $1.5MM
Adjustable Rate Mortgages
•5, 7, 10/1 LABOR ARMs
•Loan amounts up to $1.5MM
GOVERNMENT
FHA
•Lower down payment requirements
•15-, 20-, 30-year terms
•3, 5/1 Treasury ARMs
•203(k) Streamline rehabilitation loans
•Non-credit qualifying refinance available
•Available in high-cost areas USDA Guaranteed Rural Development
•Residential rural areas
•No down payment
VA
•No down payment purchase transactions
•15-, 20-, 30-year terms
•Interest rate reduction refinance available
•Available in high-cost areas
Ready to learn more? Contact us today!