USDA Loans
USDA loan is special type of a zero down payment mortgage that eligible homebuyers in rural and suburban areas can get through the USDA Loan Program
Conventional Loan
Conventional Loan
What is a conventional home loan?
A conventional loan is any type of home loan that isn’t insured or guaranteed through a government agency. Many conventional loans conform to government-set loan limits as well as income and credit score minimums. Conventional loans often cost less than government-backed mortgages such as FHA loans, but qualification requirements are more difficult to satisfy.
Many companies limit their conventional loans to 95% loan-to-value (LTV) – not us. A 97% LTV is just one of the things that make conventional loans a better choice.
HIGHLIGHTS
- 620 minimum credit score
- Up to 97% LTV/CLTV for fixed-rate mortgages when at least one of the borrowers purchasing the property is a first-time homebuyer
- 10-30 year fixed-rate mortgages, 5/6,7/6 and 10/6 ARM mortgages
- Eligible property types include 1-4 units, condos, co-ops, leasehold estates, manufactured housing, modular homes, and PUDs
- Purchase and refinance options available
Looking for a Mortgage Loan in Lake Norman / Mecklenburg area?
Mortgage Loan Options
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Conventional
Conventional loans to 95% loan-to-value (LTV) – not us. A 97% LTV is just one of the things that make Newrez’s conventional loans a better choice
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Jumbo Loans
Big Jumbo loan gives your customers the ability to borrow more than the traditional loan amounts with a lower down payment requirement.
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ARMS
An adjustable-rate mortgage (ARM) is a type of mortgage in which the interest rate applied on the outstanding balance varies throughout the life of the loan.
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VA Loans
The Federal Housing Administration and the Department of Veterans Affairs have increased loan limits - meaning you can now finance more
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Refinance Loans
Refinancing is the replacement of an existing debt obligation with another debt obligation under different terms.