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I recently got a loan from Home Loan Pros. It is a very complicated process and I need many documents and have a lot of question. Les Pruitt, my consultant made it very easy. He is very kind, efficient and knowledgeable and answered all the questions I have. Now, I am a home owner.
Thank you so much.
- JungSub YOON
Conventional Loan
Understanding Conventional Loans
- 97% financing
- Fixed or adjustable rate
- HARP loans
- 2nd Home, non-owner-occupied investment property financing
Renovation Loans
Wait and fix it up rather than selling it.
Understanding Renovation Loans
If you think you have found a diamond in the rough, a renovation loan may be for you.
A home renovation loan gives homeowners access to funds that are needed to make improvements to their homes and increase your property value. Renovation loans can cover from cosmetic repairs to total home makeovers.
203k Loan
Whether you need minor repairs or major renovations, this is the perfect loan for you.
Requirements
203k home loans have the same loan requirements as the FHA does. They require a 3.5% down payment. However, the credit requirements for 203k loans are higher than for FHA. Most lenders want you to have at least a 620-credit score.
What You Need to Learn About 203k Loan
- FHA qualified property.
- Funds for improvement included in the loan.
- Owner-occupied only.
- FHA down payment of 3.5%.
- $100.00 down HUD Repos are eligible.
USDA Loan
Zero Down Payment Required
Benefit of Choosing USDA Loan
The U.S. Department of Agriculture offers more than just food and nutrition services. They also provide special mortgages to help build up select rural areas. USDA or RHS loans offer a no down payment mortgage and have low mortgage insurance fees.
Everything You Need to Know About USDA Loan
- No down payment required
- Not limited to first-time homebuyers
- Low-income financing
- Lower upfront funding fee, along with a low monthly USDA fee
- Income and location guidelines apply,
VA Loan
With this loan type, you can experience 100% financing. We express gratitude and are happy that you earned it.
Eligibility & Benefits
If you’re a veteran, then you may qualify for a VA home loan. The VA loans offer a wealth of benefits to those who are eligible, including zero down payment.
Advantages & Eligibility Criteria of VA Loan
- Available to veterans, reservists, and active-duty personnel
- Available to surviving spouses of veterans based on military entitlement.
- No down payment required
- 30 and 15 year fixed loans
- No monthly mortgage insurance premium
- Limited closing costsNo prepayment penalty
- Bonus entitlement - allows the veteran to own up to 4 homes using VA on all the purchases
FHA Loan
Are you a first-time homebuyer? Then, this loan will help you.
Eligibility
FHA home loans are one of the most popular types of home loans used by first-time homebuyers. They have the lowest credit score requirements of any mortgage type. Borrowers with a 580 or higher FICO score may be eligible for an FHA loan with just 3.5% down. If you have a 500 FICO score, you can qualify for an FHA mortgage with a 10% down payment.
- 3.5% down payment
- Low minimum credit score requirement
- Fixed or adjustable rate
- Lower payment
- Limited closing costs
- No prepayment penalty
- Streamlined documentation on refinances
Investment Loans
Expand your real estate portfolio with this type of loan.
When to Choose Investment Loans
Investment property loans are for those who are interested in buying second homes and investment properties, including multi-unit residential properties and vacation properties. As an option, you may be able to use your current home equity to finance buying an additional property.
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