There are a number of different types of home loans available to you, and it can pay to familiarize yourself with them. Luckily we're here to help you choose the best type of home loan for your needs.
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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.
Adjustable-rate mortgages include interest payments which shift during the loan's term, depending on current market conditions. Typically, these loans carry a fixed-i...
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 specif...
Graduated Payment Mortgages are loans in which mortgage payments increase annually for a predetermined period of time (e.g. five or ten years) and...
As a self-employed small business owner, real estate investor, or entrepreneur, you legally maximize your tax deductions each year. So your tax returns don’t tell your real financial story and ability to repay a mortgage loan. As self-employed real estate investors ourselves, we understand. That’s why we offer Stated Income Mortgages and alternative ways to verify your ability to repay.
With a Bank Statement Loan, we don't even need your tax returns to qualify. Instead, we use anywhere from 3 to 24 months of deposit history, divide it in half to compensate for your expenses, and use the result to document your monthly income.
We won't even ask to see your tax returns. We'll simply add up the balances for all your liquid accounts like checking and savings accounts, brokerage accounts and IRA's. Based on your age and the amount held in retirement accounts, we can quickly determine if you qualify.
A No Doc Mortgage is a loan that requires no documentation of income or ability to repay. No Doc loans are sometimes known as a No Tax Return Mortgage or a No Income Verification Mortgage.
After the financial crisis of 2008, and the passage of the Dodd-Frank Act two years later, self-employed home loan requirements became much more stringent. Most self-employed people and real estate investors could no longer qualify for mortgages from traditional banks.
Unlike traditional banks, The de Courcy Group offers Debt Service Coverage Ratio (DSCR) loans for investment property mortgages. The DSCR formula is simple: as long as the rental income covers your debt service, you’ll qualify. And you can get 30-year fixed-rate loans from $150,000 to $30,000,000.
A bridge loan is a short-term loan used to purchase real estate, take cash out, fix it up, then quickly sell it for a profit once you've upgraded the property.
A Fix and Flip loan is a short-term loan used to purchase real estate, fix it up, then quickly sell it for a profit once you've upgraded the property.
A conventional loan is a type of loan that is not insured by the government. Conventional loans offer more flexibility and fewer restrictions for borrowers, especially those borrowers with good credit and steady income.
FHA home loans are mortgages which are insured by the Federal Housing Administration (FHA), allowing borrowers to get low mortgage rates with a minimal down payment.
A No Tax Return HELOC is a loan that requires very limited to no documentation of income or ability to repay. No Doc loans are sometimes known as a No Tax Return Mortgage or a No Income Verification Mortgage.
A jumbo loan is a mortgage used to finance properties that are too expensive for a conventional conforming loan. The maximum amount for a conforming loan is $766,550 in...
