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| Conventional Loan |
| FHA |
| VA |
| USDA |
| Jumbo |
| Non QM |
| AIO |
| Low Down Payment or Down Payment assistance |
| Reverse Mortgage |
| Buydown programs |
| Refinance |
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Conventional Loan
A conventional loan is also known as the standard loan. This type of loan is backed by a government agency either Fannie Mae or Freddie Mac. Conventional loans are designed to help home buyers find their perfect mortgage with varying parameters. It makes the loan process more simple. There are first time home buyer conventional loans as well. Conventional loans are nice because the mortgage insurance can eventually fall off and can be lower than other types of loans.
Maximum Amount: $787,750
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FHA
A Federal Housing administration loan is insured by the federal government. FHA is much more flexible with their credit scores and require only 3.5% down. It is a great loan for first time home buyers. FHA recently lowered their mortgage insurance, which makes this loan type even more beneficial.
Maximum Amount: $787,750
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VA
Veterans Assistance loans are by far one of the best loans on the market. They allow people whom have served our country to get an outstanding loan. One can do 0% down payment with no mortgage insurance at fabulous rates. VA also offers jumbo loans, which can be beneficial in our Colorado market.
Maximum Amount: $2,000,000
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USDA
US Department of Agriculture rural development guaranteed housing program loans are available to low-to-moderate income home buyers buying in a USDA approved area. One can borrower 100% at very low rates if they meet the property and income eligibility requirements. The 0% down helps a lot of people afford a home whom could otherwise not have been able to buy a home
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Jumbo
Jumbo loans are any loan amount above $726,200 in non Denver Metro areas or $787750 in the Denver Metro area. They have similar options as a conventional loan, just higher loan amounts. Putting as little as 10% down can get you a great rate!
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Non QM
These loans are special loans for individuals whom do not meet the normal standard to qualify for a loan. Examples of these are asset based loans, bank statement loans, one year tax returns, low credit scores, etc. Using a broker like Stonehenge Financial will assist you in getting the best loan possible. We excel at the unique loans
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AIO
This is a unique loan where an individual will combine their bank account with their loan. As one deposits money their balance of their loan goes down, yet your funds are still available to pay your expenses. Since it is interest only, it is designed to pay off your home at a much faster pace.
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Low Down Payment or Down Payment assistance
Saving money for a down payment can be difficult. There are many programs in our beautiful state that can assist with down payment. There are options for you, and Stonehenge Financial is here to help you navigate this process.
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Reverse Mortgage
Reverse mortgages also known as HECM loans are designed to help the aging population. As one's income is more restricted it is designed to help you not have a payment and can even get an annuity payment to help you live and pay your bills. The right person can even do a HECM purchase.
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Buydown programs
We offer a wide range of loan programs that are designed to help you make homeownership a reality. There are many possibilities to help get your rate down to support your goals.
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Refinance
Taking advantage of your equity can help people in many different ways. Refinancing a mortgage can reduce your mortgage payment, get you cash back, or get rid of mortgage insurance. Sometimes we can do these with very little income documents or no appraisal.
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