Innovative Loan Options

 

Differentiating Loan Options

Are you trying to find a lower interest rate? Or are you looking to have a smaller down payment? Have you served in the military? If you find yourself asking these questions, you’re probably searching for a Conventional, FHA, or VA loan. Our team at Truvaya can advise you about the best option and help get you started today.

Mortgage
Options
Easy
Qualification
Loan
Flexibility
Rate
Security
Lower Equity /
Money Down
30 YEAR
FIXED MORTGAGE
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15 YEAR
FIXED MORTGAGE
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FHA LOAN GET TODAY’S RATES >
ADJUSTABLE RATE
MORTGAGE
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JUMBO LOANS GET TODAY’S RATES >
VA LOANS GET TODAY’S RATES >
HARP GET TODAY’S RATES >
REVERSE
MORTGAGE
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NO PMI
MORTGAGE
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HOME PATH GET TODAY’S RATES >

30 YEAR FIXED MORTGAGE:

A 30 Year Fixed Conventional Mortgage is one of the top choices for home loan options especially for budget-conscious homeowners. A 30-year fixed mortgage allows you to lock in a set principal and interest payment that stays the same throughout the duration of the loan. A 30 year fixed mortgage could be either Conventional, FHA, VA or USDA – these are different type of mortgage programs.

 

15 YEAR FIXED MORTGAGE:

Another popular option for homeowners who want to pay a lower interest rate, pay less interest over the life of the loan, and build equity more quickly. A 15 year fixed mortgage could be either Conventional, FHA, VA or USDA – these are different type of mortgage programs.

 

FHA LOAN:

FHA loans are guaranteed by the Federal Housing Administration (FHA) to help buyers who might have a hard time getting approved with conventional lenders. A small down payment, as low as 3.5%, makes it possible to buy a new home even with limited funds.

 

ADJUSTABLE RATE MORTGAGE:

With an Adjustable Rate Mortgage, the interest rate is fixed for a period (usually 5, 7 or 10 years) and thereafter the interest rate varies depending on market conditions. ARM’s are almost always lower in rate than fixed loans allowing a home buyer to purchase a more expensive home or have a lower payment.

 

JUMBO LOANS:

Jumbo loans were established to finance luxury properties and homes in highly competitive local real estate markets. They come with with unique underwriting requirements and tax implications.

 

VA LOANS:

VA loans are backed by the US Department of Veterans Affairs and was designed to provide housing and assistance for veterans and their families. This program is a great way for veterans to save on mortgage loan and take advantage of having no down payments.

 

HARP:

Home Affordable Refinance Program (HARP) was created by the Federal Housing Finance Agency in March 2009 to help underwater and near-underwater homeowners refinance their mortgages. When the outstanding balance on an existing mortgage currently exceeds the value of the home it is known as being “underwater”.

 

REVERSE MORTGAGE:

Reverse mortgages are great for homeowners who are in retirement age and who want to help supplement their retirement income or take cash out for whatever need.

 

NO PMI MORTGAGE:

No PMI Mortgages are a great option if you want to avoid paying PMI but don’t have enough to meet the required down payment to buy a home.

 

HOME PATH:

Home Path Mortgages offer financing incentives to help sell Fannie-Mae owned homes where you may not need an appraisal.

 

30 YEAR FIXED MORTGAGE

A 30 Year Fixed Conventional Mortgage is one of the most popular home loan options available because it offers the budget-conscious homeowner lower monthly payments. A fixed rate allows you to lock in a set principle and interest payment. A 30 year fixed mortgage could be either Conventional, FHA, VA or USDA – these are different type of mortgage programs.

Easy Qualification
Loan Flexibility
Rate Security
Lower Equity / Money Down

15 YEAR FIXED MORTGAGE

Another popular option for the length of a loan for homeowners who want to secure a lower mortgage rate and pay less interest over the life of the loan. A 15 year fixed mortgage could be either Conventional, FHA, VA or USDA – these are different type of mortgage programs.

Easy Qualification
Loan Flexibility
Rate Security
Lower Equity / Money Down

FHA LOAN

FHA loans were established by the Federal Housing Administration (FHA), part of the US Department of Housing and Urban Development (HUD), to help families with financial limitations become homeowners. The lower down payment makes it possible to buy a new home even with limited funds.

Easy Qualification
Loan Flexibility
Rate Security
Lower Equity / Money Down

ADJUSTABLE RATE MORTGAGE

Loans with an initial fixed rate period (usually 5, 7 or 10 years). After the fixed rate period, your interest rate may change once per year- either up or down depending on market conditions. ARM’s are almost always lower in rate than fixed loans and can offer huge savings to first time home buyers especially those who don’t plan on staying in their home for more than 10 years.

Easy Qualification
Loan Flexibility
Rate Security
Lower Equity / Money Down

JUMBO LOANS

Jumbo loans were established for larger purchases. They come with specific limits and guidelines for luxury homes purchases.

Easy Qualification
Loan Flexibility
Rate Security
Lower Equity / Money Down

VA LOANS

VA loans are backed by the US Department of Veterans Affairs and offer veteran buyers home loan options with no down payments. This program is a great way to save on a mortgage loan as a veteran.

Easy Qualification
Loan Flexibility
Rate Security
Lower Equity / Money Down

HARP

Home Affordable Refinance Program (HARP) was created by the Federal Housing Finance Agency in March 2009 to help homeowners refinance their mortgages where their outstanding balance on an existing mortgage currently exceeds the value of their home, otherwise known as being “underwater”.

Easy Qualification
Loan Flexibility
Rate Security
Lower Equity / Money Down

REVERSE MORTGAGE

Reverse mortgages are great for homeowners 62 and older who want to help supplement their income or take cash out for whatever need.

Easy Qualification
Loan Flexibility
Rate Security
Lower Equity / Money Down

NO PMI MORTGAGE

No PMI Mortgages are a great option if you don’t have enough of a down payment to buy a home.

Easy Qualification
Loan Flexibility
Rate Security
Lower Equity / Money Down

HOME PATH

Home Path Mortgages are devised to help sell Fannie-Mae owned homes where you may not need an appraisal.

Easy Qualification
Loan Flexibility
Rate Security
Lower Equity / Money Down