FIRST TIME HOMEBUYERS
Mortgage Programs We Specialize In
A VA (Veterans Administration) guaranteed home loan is the preferred loan program for active, non-active, Reserve, National Guard, and retired military of the armed forces because there is no down payment needed and no private monthly mortgage insurance required.
For homeowners interested in making some property improvements without tapping into their savings or investment accounts, the two main options are to either take out a Home Equity Line of Credit (HELOC), or do a cash-out refinance.
Have you found that “almost perfect” home in the right location that is selling at a reduced price because it needs a little rehab work?
A Jumbo, or non-conforming loan, is required for financing on a mortgage that is higher than the conforming loan limits set by Fannie Mae and Freddie Mac.
The FHA's mission driven organization encourages home ownership and provides affordable housing opportunities with low down payment and flexible credit requirements.
Most lenders would consider a conventional mortgage as a loan that conforms to the guidelines set forth by Freddie Mac and Fannie Mae, the two government sponsored enterprises (GSEs) that provide liquidity in the mortgage market.
A reverse mortgage is a loan available to seniors, and is used to release the home equity in the property as one lump sum or multiple payments. The homeowner's obligation to repay the loan is deferred until the owner dies, the home is sold, or the owner leaves (e.g., into aged care).
The lending experts at Academy Mortgage in Yuma, AZ have been helping first-time homebuyers and seasoned investors with their residential home loan needs since 2000. As active members of the local real estate community,
the Yuma Academy Mortgage team hosts many live educational seminars to teach real estate agents and borrowers about the changing lending regulations and unique qualifying guidelines.