LOAN PROGRAMS
Ideal Lending Solutions Loan Programs
A conventional loan is a type of mortgage loan that is not insured or guaranteed by the government. Instead, the loan is backed by private lenders, and its insurance is usually paid by the borrower. These programs follow lending rules set by Fannie Mae and Freddie Mac and have the reputation for being the most affordable and quickest to close in the mortgage industry.
A Federal Housing Administration (FHA) loan is a mortgage that is insured by the Federal Housing Administration (FHA) and issued by an FHA-approved lender. FHA loans are designed for low-to-moderate-income borrowers; they require a lower minimum down payment and lower credit scores than many conventional loans.
FHA loans may be great for people looking for lower downpayment requirements and flexible qualifications.
Just for veterans and surviving spouses! Finance up to 100% of your new home’s value with no money down, no appraisal fee, and no private mortgage insurance; or refinance your home quickly and easily with minimal paperwork.
Purchase or refinance property located in a rural area (as designated by the U.S. Department of Agriculture). These loans are available to most borrowers and will lend up to 100% of a property’s value.
Programs that won’t just finance your home, but also include the cost of improvements you want to make. Renovation loans actually allow you to build equity in your home through the transaction!
If you’re looking for a BIG loan amount, we can handle it. Jumbo loans are available for loan amounts in the $500,000-$2,000,000 range, and sometimes higher.
Home Equity Conversion Mortgages (HECMs), also known as reverse mortgage loans, were created over 25 years ago to help Americans age 62 and older convert a portion of their home equity into tax-free money. HECM reverse mortgages are insured by the Federal Housing Administration (FHA) and allow seniors to age in place and achieve retirement security.
Are you Self-Employed and need to qualify with your bank statements, instead of your tax returns? Do you need a loan on an Investment property and don’t want to provide income documentation? Do you have a special circumstance that other lenders can’t accommodate? Odds are that we have a specialty product that can help you out.
Do you have the income to afford monthly mortgage payments, but are struggling to come up with the cash needed for a down payment and closing costs? You may be able to take advantage of low interest rates, become a homeowner, and lock in your housing payment for the next 30 years. Ideal Lending Solutions offers several Down Payment Assistance programs to help homebuyers with the upfront cost of buying a home.
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Find Out Your Options!
Buying a new home or refinancing your current loan? Use our quick and easy tools to find out how much home you qualify for or instantly download your custom home equity report.
