Vision Home Mortgage Loan Programs
Home Loan Programs Available in Nevada
Fixed-Rate Mortgages (FRM)
The most common type of loan option, the traditional fixed-rate mortgage, includes monthly principal and interest payments which never change during the loan’s lifetime. Fixed rates are available for almost every loan program including Conventional, FHA, VA, and many more. What are some benefits of a fixed-rate mortgage? Well for starters most homeowners want to know what their payment will be every month. The interest rate stays the same throughout the agreed term. Find out more...
First-Time Home Buyer
Are you a first-time home buyer? Do all these different loan options look looming? Well, you are in luck, because at Vision Home Mortgage we guide all of our clients through the entire process. There are a few programs offered for first-time home buyers. Find out more...
FHA Loans
FHA Loans FHA home loans are mortgages that are insured by the Federal Housing Administration (FHA), allowing borrowers to get low mortgage rates with a minimal down payment. They require a smaller down payment than conventional at just 3.5% and have more relaxed guidelines when it comes to credit. What are some benefits of an FHA loan? Find out more…
Conventional Loans
Conventional loans are a mortgage not backed by a government agency. These loans come in all shapes and sizes. Did you know that you don’t have to put a 20% down payment? Conventional offers a first-time home buyer program with as little as 3% down payment. Is this the right loan for you? Find out more…
VA Loans
VA loans are mortgages guaranteed by the Department of Veteran Affairs. These loans offer military veterans exceptional benefits including low-interest rates, no mortgage insurance, and no down payment. This program was designed to help military veterans realize the American dream of home ownership. Are you a Veteran? Find out more…
Refinance
There are a few different options when it comes to refinancing your home loan. A lot of people struggle with the right option and/or the right time to refinance. How do you know if it makes sense for you? Some refinance options do not require income or assets. Did you know VA and FHA offer a streamlined product or IRRL? Maybe you are looking to take some cash out of your home to upgrade, build a pool, or pay off debts by consolidating the payments. There are plenty of options. Find out more…
Jumbo Loan
A jumbo loan is a loan that exceeds the loan servicing limits set by Freddie Mac & Fannie Mae. Currently, the loan limit is $647,200 for a single-family home in Nevada. Jumbo loans have a wide variety of down payment options as well. Also, some Jumbo loan products have no mortgage insurance or PMI. Is the home you are looking for exceed the conventional loan limit? Find out more…
Non-QM Loans
I’m sure you have heard the term Non-Qualified Mortgage, but what does that mean? Basically, any loan that does not meet standard/traditional methods. These loan products allow home buyers to qualify with alternative methods. There is such a wide variety of products, which allows more options for home buyers who don’t necessarily meet standard requirements. Maybe you have been told you cannot purchase a home; however, you may have better luck with one of these products? Find out more...
USDA Loans
USDA loans are guaranteed by the United States Department of agriculture. Typically these loans are used for rural areas that meet the Department of Agriculture guidelines. You may be surprised that those guidelines are not as strict as you think. Since this loan is backed by a government agency they can offer lower rates, as well as no PMI. Is this the right loan for you? Find out more…
Adjustable Rate Mortgages (ARM)
Adjustable-rate mortgages include principal and interest payments but the interest rate can change over time. The adjustments can either increase or decrease your monthly payment depending on market conditions at that time. Typically, these loans carry a fixed-interest rate for an initial set period of time before adjusting. What does an ARM really mean? Find out more…
Hybrid ARMs (3/1 ARM, 5/1 ARM, 7/1 ARM, 10/1 ARM)
Hybrid ARM mortgages combine features of both fixed-rate and adjustable-rate mortgages and are also known as fixed-period ARMs. Interest Only Mortgages Interest-only mortgages are home loans in which borrowers make monthly payments solely toward the interest accruing on the loan, rather than the principle, for a specified period of time.
Reverse Mortgages
Reverse Mortgages allow senior homeowners to convert all or a portion of their home equity into cash while still living in the home. The equity can be paid out in a lump sum, monthly distributions, or a combination of both. This is an amazing choice for seniors who are limited on income as this has the ability to eliminate your monthly mortgage payment and be a helpful source of supplemental income. Find out more…
What kind of loan program is best for you?
Should you get a fixed-rate or adjustable-rate mortgage? A conventional loan or a government loan? Deciding which mortgage product is best for you will depend largely on your unique circumstances, and there is no one correct answer. We have provided some information on each loan as well as helpful videos on our site. However, if you have any questions or are looking for better guidance on what options are best for you, please contact our experienced loan officers today. We would be happy to help you on your home buying, refinancing, or reverse mortgage journey.