Loan Options | Secure Mortgage

Obtaining the correct loan that best suites your financial needs is crucial. That way you are able to get a monthly mortgage and down payment that you are comfortable with.

Expert guidance in the mortgage process can be invaluable for all homebuyers. 5Points Lending is here to help navigate any complex financial situations.

We can help you evaluate your specific situation to determine how much house you can afford and what type of mortgage is suitable for your situation.

Secure Mortgage Company is licensed in Texas, Florida and Washington State.

Fixed and Adjustable Rate Options

Fixed-rate conventional financing refers to a type of mortgage loan where the interest rate remains constant throughout the entire term of the loan. This is the most common type of financing.

An adjustable-rate mortgage (ARM) is a type of mortgage loan where the interest rate fluctuates periodically based on changes in a specified financial index. The interest rate on an ARM is typically fixed for an initial period, after which it adjusts at predetermined intervals according to the terms of the loan agreement.

FHA Loans

A Federal Housing Administration (FHA) loan is a mortgage loan that is insured by the Federal Housing Administration, a division of the U.S. Department of Housing and Urban Development (HUD). FHA loans are designed to make homeownership more accessible to individuals and families with lower credit scores, smaller down payments, and limited financial resources.

Non-QM Loans

A non -QM loan is basically a loan that does not fall into the typical Conventional or FHA Category.

They are geared towards borrowers do not fit the box of a traditional bank loan.

Non -QM loans can be used for Primary, 2nd or even Investment properties.

They offer unique qualities:

Ability-to-Repay Rule Exemption
Alternative Documentation
Unique Borrower Profiles
Variety of Loan Types
Less Regulation:

Department of Veteran Affairs Loan

VA home loans offer competitive interest rates and terms and can be used to purchase various types of properties, including single-family homes, condominiums, multi-unit properties, manufactured houses, or new constructions.

One of the significant benefits of VA loans is that eligible Veterans can buy a home without making a down payment. This feature has been a key aspect of the VA loan program. Unlike many other loan types that require a down payment of at least 3% or more, VA loans allow qualified Veterans to purchase a home without any down payment requirement.

Jumbo Financing

Jumbo mortgages are designed to finance luxury properties and homes in highly competitive local real estate markets and have unique underwriting requirements and tax implications.

The primary advantage of a jumbo loan is that it allows borrowers to take out a mortgage that exceeds the limits put in place by the FHFA. This limit varies by state and county.

Refinance

By refinancing, individuals can potentially benefit from lower interest rates, switch from an adjustable-rate mortgage to a fixed-rate one for stability, consolidate debts at a lower rate, or even access cash by tapping into the equity built in their homes. The decision to refinance should be based on careful consideration of current financial circumstances and long-term objectives.