Loan
Programs
Ready To Buy A Home?
Why working with a mortgage broker is the right move
Explore a variety of loan options including VA, Conventional, USDA, FHA, Construction, DSCR, Down Payment Assistance, and more. Discover the right loan to fit your homeownership needs, whether you're a first-time buyer, looking to refinance, or building your dream home. Learn about each loan type and find expert guidance to make informed financial decisions tailored to your goals.
VA Purchase Loan
VA purchase and VA Jumbo Purchase loans enable eligible service members, veterans, and surviving spouses to buy various property types, including single-family homes (1-4 units), manufactured homes, condos, and townhomes. Additionally, a VA Renovation loan can help turn a fixer-upper into a dream home. With benefits like no down payment, no PMI, competitive rates, and flexible credit requirements, VA loans offer an exceptional path to homeownership. Discover the potential of a VA loan today.
VA OTC Construction Loans
A VA OTC (One-Time Close) Construction loan is a 0 money down, streamlined financing option designed for those seeking to build a new home from the ground up. It can be used to build a single family home, manufactured home, or even a barndominium. This unique loan combines the purchase of the land, site prep, and the construction into a single closing process, saving you time and money. The loan covers the construction costs of your home and then transitions into a regular VA mortgage once the construction is complete. This eliminates the need for multiple applications and closing costs. Discover the benefits of one-time close construction loans today, and take the first step towards building your dream home.
VA IRRRL (Streamline Refi)
Lower Interest Rates: Secure a reduced rate and keep more money over the life of your loan.
Reduced Monthly Payments: Extra cash each month? Thatβs always a welcome change.
No Appraisal Required: Skip the hassle and expense of an appraisal.
Simplified Paperwork: Experience a streamlined process with less bureaucratic clutter.
No Cost Out Of Pocket: Most IRRRL Refinances will not require you to pay any fees out of pocket. Closing Costs on an IRRRL are more affordable than on a Purchase, and you can finance them into the loan amount.
Skip One to Two Mortgage Payments: When you refinance your current mortgage, you will likely skip one mortgage payment, possibly even two mortgage payments, depending on when you close.
Conventional Loans
Conventional purchase loans, not backed by a government entity, are a well-established route to homeownership. These loans demand higher credit scores and stable income, making them suitable for borrowers with solid financial standing. With conventional loans, you can often enjoy lower interest rates, diverse term options, and the potential to avoid private mortgage insurance with a 20% down payment (Min down is 3%). They can also accommodate a variety of property types, including vacation homes and investment properties. While these loans have stricter requirements, the benefits such as potential equity building and lower overall costs can be substantial. Discover the benefits of conventional purchase loans today and step confidently into homeownership.
FHA Loans
FHA purchase loans, backed by the Federal Housing Administration, offer a more accessible path to homeownership. Known for lower down payments (as low as 3.5% with a credit score of 580 or higher) and lenient credit qualifications, FHA loans cater to diverse financial situations. Even borrowers with higher debt levels may qualify, due to permissible higher debt-to-income ratios. Although mandatory mortgage insurance is required, the benefits of FHA loans often outweigh this cost, making them an ideal option for first-time buyers, those with limited savings, or those recovering from financial hardship. Explore the potential of FHA purchase loans today and make your dream home a reality.
USDA Loans
A USDA purchase loan, backed by the United States Department of Agriculture, presents a unique homeownership opportunity, especially for those seeking to live in eligible rural and suburban areas. USDA loans offer remarkable benefits like zero down payment requirements and competitive interest rates, making them an attractive choice for eligible buyers, particularly those with modest income. While these loans come with specific location and income requirements, the potential to finance up to 100% of the home's value provides a substantial benefit for those who qualify. Explore the benefits of USDA purchase loans today, and let your journey to homeownership blossom in the beauty of rural and suburban America.
Down Payment Assistance
A purchase loan with down payment assistance is a beneficial path to homeownership for many potential buyers. These loans, often combined with FHA, VA, or USDA loans, provide financial aid to help cover initial costs, making home buying more attainable. Down payment assistance programs can come in the form of grants, second mortgages, or tax credits and can be structured as forgivable or non-forgivable. These programs often cater to first-time buyers or low-to-moderate income individuals, although specifics vary by program. While credit score and income requirements apply, these loans offer a significant advantage to those who qualify by reducing the financial burden of a down payment. Explore the potential of purchase loans with down payment assistance today, and take a step closer to your dream home.
π 13921 Meridian E, Suite 201B
Puyallup, WA 98373
π 253-380-3727
π§ w[email protected]
NMLS #2288904
Edge Home Finance HQ Address:
5868 Baker Road
Minnetonka, MN 55345
Edge Home Finance Corporation Company NMLS #891464
