Loan Options

LOAN PROCESS

Select the best loan program for your situation.

Think about how long you plan to keep the loan. If you plan to sell your home in a few years, you may want to consider an adjustable rate or balloon loan. If you plan to keep your home for a longer time, you may want to consider a fixed rate loan.

Understand the relationship between rates and points. Points are considered prepaid interest and may be tax deductible. Each point is equal to 1 percent of the loan. For example 1 point on a $150,000 loan is $1,500. The more points you pay, the lower your rate.

Compare different loan programs.

With so many programs to choose from, it is hard to figure out which program is best for you. Consult an experienced loan officer who can help you find a loan program that best fits your short- and long-term plans.

 

Options Available
CONVENTIONAL
Conventional 1% Down Payment

Give your borrowers a low down payment, a great rate and a head start on their equity. United Wholesale Mortgage is the first wholesale lender in the industry to offer 1% down on conventional loans with a 2% equity boost!

Program highlights include:

• Clients pay 1%, Lender gifts 2%, giving borrowers 3% equity at closing
• 700+ FICO, 43% max DTI
• Great low rates
• Close in 30 days or less
• Available with no monthly Mortgage Insurance

HomeReady

A great alternative to FHA financing for borrowers looking to purchase with a low down payment or refinance with limited equity.

• Up to 95% LTV
• First time homebuyers, move-up borrowers, and retirees
• No income limits for Underserved Areas
• No reserve requirements for 1-unit properties
• Gift funds eligible for entire down payment

Home Possible Advantage

A great alternative to FHA financing for borrowers looking to purchase with a low down payment or refinance with limited equity.

• Up to 97% LTV
• First time homebuyers, move-up borrowers, and retirees
• Refinances up to 97% LTV, regardless of current mortgage program
• No income limits for Underserved Areas
• No reserve requirements for 1-unit properties

USDA LOANS

Designed for homebuyers in rural locations who do not qualify for a conventional loan. They feature low down payments and relaxed qualifying guidelines. Properties must be in a rural area designated by the US Department of Agriculture.

 

FRESH START PROGRAM

This loan is tailored for people who are working to rebuild their credit after a recent bankruptcy, foreclosure, deed in lieu of foreclosure or short sale. Fresh Start fixed- or adjustable-rate funding may be available as soon as 1 day after a short sale, bankruptcy, or foreclosure

HOMESTYLE RENOVATION

HomeStyle Renovation Mortgage from Prime Choice lending, Inc. can help you finance one or more major renovation projects. It provides plenty of funds for repairs and/or remodeling. HomeStyle is available for new and existing homes – even new construction!

FOREIGN NATIONAL

 

Purchase a second home or investment property in the U.S. with this custom financing product. Both fixed- and adjustable-rate loans are available for sums up to $2 million

 
VA LOANS

Take your VA borrowers to a new level with industry-leading government rates and pricing. This is the obvious choice for your top-tier clients.

500+ FICO
Maximum loan amount can exceed county limits
All fixed term mortgages
Single family primary residences

FHA

FHA Purchase/Refinance

• 500+ FICO
• All fixed term mortgages
• Single family primary residences
• Debt ratios accepted up to 55%

FHA Streamline

FHA Streamline program allows you to refinance your FHA borrower with no appraisal or AVM. Time is of the essence—stop the shop and use our quick closing process to secure your borrower.

• 500+ FICO
• Debt ratios accepted up to 55%
• Up to 60 days interest allowed your real estate partners and clients with speed and confidence. We can close your HUD REOs in as fast as two weeks from submission while allowing holdbacks up to $5,000 for escrow repairs.

 

We have aggressive ARM pricing can provide a lower payment for your client.

NON-AGENCY

Give your Jumbo clients the pricing and turn times they deserve. Jumbo Elite loans not only allow you to offer competitive pricing to your clients, but they also allow you to close in an impressive 25 days or less.

Loan amounts up to $2 million
Exclusive rate incentives for borrowers with 740+ FICO
Eligible for primary and second homes
ARM and fixed-rate options available

  • NMLS#1441287, 400 Chisholm Place #406,
    Plano, TX 75075,
    Fax-702-948-5152.