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Your financial future is based on the important decisions you make over time, and purchasing a home or refinancing is near the top of the list. We sleep well at night because we put our customers first, by helping get the best loan possible, based on credit history and need. You can count on our years of experience and our understanding of the variety of financial products available to help you make the best financial decision possible.
Contact Premier Mortgage Consultants if you want to:
Buy a home - Whether you are a first time home buyer or trading up to a larger home, we will help you find the best home loan solution for you. With products for new home purchases as well as second, vacation, and investment homes, you can trust the consultants at Premier mortgage.
Refinance - for debt consolidation or accessing available equity that may have built up in your home. Refinance loans can be used to help with many personal financial situations such as reducing monthly payments, home improvements, college tuition and more.
An FHA loan is a loan insured by the Federal Housing Administration. FHA primarily serves people who cannot afford a conventional down payment or otherwise do not qualify for PMI. It can be used to refinance your existing home or purchase a new home. An individual does not need to be a first time home buyer in order to obtain an FHA loan. A purchase loan only requires the buyer to contribute 3.5% (an amount equivalent to 3.5% of the sales price) from their own funds.
A VA loan is a loan insured by the Department of Veterans Affairs. The VA loan was designed to offer long-term financing to American veterans or their surviving spouses. In a purchase, veterans may borrow up to 100% of the sales price or reasonable value of the home, whichever is less. Since there is no monthly PMI more of the mortgage payment goes directly towards qualifying for the loan amount, allowing for larger loans with the same payment. In a refinance, veterans may borrow up to 90% of reasonable value, where allowed by state laws.
USDA loans are primarily used to help individuals or households purchase homes in rural areas. USDA will lend up to 100% of the appraised value. This feature will allow for an applicant to finance, if needed, any closing costs if the appraised value is higher than the sales price.
A conventional loan is not insured by FHA or guaranteed by the VA. A conventional loan will lend up to 97% on a purchase and 95% on a refinance. Conventional loans have more strict guidelines when compared to FHA loans, VA loans and USDA loans.