38219 Mound Rd. Suite 201 Sterling Heights, MI 48310
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Types of Loans

We get it, you're not a loan expert, but you want to know a little more about the types of loans we offer and which ones can work for you. We don't blame you. Below is a list of loans we offer and a little more about them. Don't worry, we won't quiz you on them. However, we have access to specialty loan types too, so if you don't see what you're looking for, just ask, we may have just the thing.

Conventional loans are sometimes more lenient with the appraisal & condition of the property. When you are buying a "fixer upper" you may need to use a conventional loan. Homes purchased above the FHA loan limit are usually financed with conventional loans.

A loan insured by the Insuring Office of the Department of Housing & Urban Development. They offer a low down payment & are easier to qualify for than conventional loans.

A loan that is partially guaranteed by the Veterans Administration & made by a private lender. A veteran must have served 180 days active service.

A USDA home loan is a zero down payment mortgage for eligible rural homebuyers. Offered by the United States Department of Agriculture.

A fixed rate loan has one interest rate that remains constant throughout the life of the loan.

A mortgage with an interest rate that changes over time in line with movements in the index. ARMs are also referred to as AMLs (adjustable mortgage loans) or VRMs (variable rate mortgages).

A mortgage used to finance properties that are too expensive for a conventional conforming loan. In most areas the maximum amount is $647,200, determined by the Federal Housing Finance Agency (FHFA).

Loans that are designed to help homeowners improve their existing home or buy a home that can benefit from upgrades, repairs, or renovations. A great way to help you create your own equity fast by bringing your home up-to-date.

A home construction loan is a short-term, higher-interest loan that provides the funds required to build a residential property.


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