Making a House Your Home Today

FHA Loans

If you’re looking for a flexible lending option, an FHA home loan might be the right one for you. An FHA mortgage is a government-backed home loan that is insured by the Federal Housing Administration (FHA). FHA loans have a fixed rate.

Common benefits of an FHA mortgage include:

• Low down payments
• Easy and flexible credit qualifications
• Eligibility for financing available faster after bankruptcy or foreclosure
• Loan can be assumed by qualified home buyers
• Down payment funds can be gifted from a relative

VA Loans

Premier Lending Alliance is proud to assist our service members and veterans in more easily becoming homeowners with our VA loans. Backed by the Department of Veterans Affairs (VA), this type of loan allows service members, veterans, and eligible surviving spouses to buy a home with little to no money down. VA loans also allow for a cash-out refinance up to 100% financing. We want to help you and your family get your dream home with a VA loan. Contact us today to speak with a member of our team for more assistance.

Common benefits of a VA loan include:

• Little to no down payment required
• Lower monthly payments
• Simplified approval process
• No private mortgage insurance
• 100% financing with full VA entitlement
• VA financing fees can be included in loan amount
• No prepayment penalties
• 100% cash-out refinancing

USDA Loans

For someone looking for a home in a rural community, a USDA loan could be the mortgage option for you. A USDA loan is insured by the United States Department of Agriculture (USDA). They provide affordable financing options for properties considered to be in a “rural” area. Many areas throughout the Midwest are considered rural. The USDA loan program we offer helps eligible low- to moderate-income families achieve homeownership with no downpayment necessary. Find out if the property you’re interested in is eligible or contact one of our experienced loan officers for more assistance.

Common benefits of a USDA loan include:

• Low FICO score requirements
• Low interest rates
• Funds can be gifted for closing costs

Conventional Home Loans

We understand that each of our clients have different needs and lifestyles, so we work to tailor your mortgage options to fit within those circumstances. Our most common loan product we offer individuals includes our conventional home loans. A conventional loan is a mortgage that isn’t guaranteed or insured by a government agency. Instead, it is fixed in its terms—with terms ranging from 15 to 30 years—and rate, which is typically lower on the spectrum. If you plan to stay in your home for a long time, this might be a great loan option because your monthly payments will remain the same for the life of the loan.

Benefits of conventional mortgage loans include:

• Less documentation required for approval
• No interest rate surprises
• Lower interest rates
• Refinancing options

Adjustable-Rate Mortgages

An adjustable rate mortgage is a loan type that offers a lower initial interest rate than most fixed rate loans.  The rate is fixed for an initial period (typically 5 – 10 years).  The trade off is that after the fixed period, the interest rate can periodically change.  The rate typically changes in relation to an index.  Therefore, the monthly payment will either go up or down. Apply today.

Benefits of an adjustable-rate mortgage include:

• Lower short-term rates
• Lower monthly payments
• Refinancing options

Fixed-Rate Mortgage

A fixed-rate mortgage has an interest rate that won’t change for the life of the home loan, which makes it an appealing mortgage choice for many homebuyers. You’ll get the security of consistent interest rates month-to-month and avoid cost fluctuation, which you might find with an ARM. Available in 10- to 30-year terms, we make applying for a fixed-rate mortgage easier so you can get excited about your new home rather than facing the headaches and confusion that often come with the mortgage process.

Jumbo Financing

A jumbo mortgage loan is one that exceeds the conforming loan limits, which is typically $417,000 in most areas of the U.S. If you’re in the market for a high-priced, luxury home, you would benefit from jumbo financing, especially if you have a lower debt-to-income ratio, a high credit score, and can pay a larger down payment.