FIND A LOAN PROGRAM 2017-08-13T15:41:50+00:00

FHA 203(k) Standard or Limited Renovation Loans
Turn a place with potential into the home of your dreams with the FHA 203(k) Standard Rehab Loan. This program provides financing for minor or major upgrades such as foundation repairs, roof work, landscape work and exterior remodeling, with a 203k Limited option for projects under $35,000. The best part of the FHA 203(k) products is that buyers with limited disposable cash can afford both a home purchase and the repairs needed.

Here’s How It Works

  • Buy and renovate with one loan
  • Limited option is streamlined, allowing less documentation
  • Refinance to include rehab costs
  • Choose an option that works for the types of repairs and costs you need to be financed

Many potential homebuyers struggle to save for a down payment.  If this has stalled your homeownership journey we may be able to help. Resolution Home Loans has access to a wide variety of Down Payment Assistance programs that may be able to get you into a home today.  Ask us today what programs are available for you.

Loans for Veterans
Veterans Affairs (VA) loans have been helping millions of veterans and their families become homeowners since the program’s inception in 1944. VA loans are guaranteed by the federal government and offer eligible borrowers affordable home financing, along with many other benefits.

Advantages for Qualified Veteran Homebuyers:

  • No down payment
  • No private mortgage insurance
  • Relaxed credit and qualifying standards
  • Competitive interest rates, which may result in lower monthly payments
  • Interest rate reduction refinances and cash-out refinance options
  • Closing costs or other certain items may be paid by seller

Eligibility Requirements for a VA Home Loan:

  • Have a Certificate of Eligibility.
  • Be a retired veteran, active duty military, national guard or reservist.
  • Be a spouse of a service member meeting certain conditions.
  • Program available for the purchase of a primary residence or refinance of investment property if veteran previously occupied the investment property.

Loan Limits:
In most parts of the country, veterans can purchase a home for up to $417,000 with no down payment. In high-cost counties, veterans may be able to purchase homes exceeding that amount without a down payment.

Funding Fees:
VA loans require a Guarantee Fee (Funding Fee) that may be financed (This fee goes directly to ensure the program keeps running for future generations of military homebuyers. The fee varies depending on borrower’s circumstances and may not apply to veterans with service-related disabilities).

Disclaimers
This is not a commitment to lend. Programs, rates, terms, and conditions are subject to change without notice. Credit and collateral are subject to approval. Equal Housing Lender.

A Low Down Payment Advantage

Looking for a fixed-rate conventional loan that goes easy on the down payment requirement? Look no further than the Freddie Mac Home Possible Advantage mortgage. Home Possible Advantage is for qualified borrowers with good credit history who may have difficulty saving for a down payment.

Good Credit History May Earn a Low Down Payment

Home Possible Advantage perks are

  • Up to 97% LTV financing
  • Moderate to good credit scores eligible
  • Condos and Planned Unit Development single residences are allowed
  • Borrowers do not have to be first-time homebuyers

Helping More Homebuyers Qualify
If you’d love to buy a home but lack credit history, a down payment, or are unable to cover closing costs, an FHA loan may be the solution. FHA financing was developed to provide homebuyers with an alternative to conventional financing and include attractive and flexible guidelines.

FHA Financing Can Help Qualified Borrowers Get These Perks

  • Low 3.5% down payment
  • 100% gift funds – the entire 3.5% down payment can be a gift from parents, relatives or an employer.
  • Lower closing costs – FHA allows the seller to give up to 6% of the home’s purchase price to an FHA buyer to pay for closing costs and pre-paid costs.
  • Flexible credit qualifying – because it is government-backed, it’s possible to qualify for an FHA loan with a lower credit score than on conventional loan programs
  • Upfront mortgage insurance may be financed or paid in cash.
  • May also be an option for borrowers with limited equity looking to refinance.
  • Ability to choose from a fixed-rate or adjustable rate

Disclaimers
This is not a commitment to lend. Programs, rates, terms, and conditions are subject to change without notice. Credit and collateral are subject to approval. Equal Housing Lender.

Benefits of a Conventional Purchase Loan

“Good Standing” Benefits
Conventional loans come in a variety of options and with excellent advantages for borrowers who have a strong down payment. While FHA and other government loans can have certain property restrictions, a conventional loan can be used for more property types.

Reap the Rewards of Conventional Qualifying

Conventional Purchase Loans Offer

  • Several down payment options.
  • Advantages for higher down payments.
  • Option to eliminate mortgage insurance.
  • Financing for properties commonly restricted by government loans
  • Refinancing to possibly remove mortgage insurance

Disclaimers
This is not a commitment to lend. Programs, rates, terms, and conditions are subject to change without notice. Credit and collateral are subject to approval. Equal Housing Lender.

A Flexible, Low Down Payment Loan Program
If you’re a homebuyer with a good credit history and a stable job, but not a lot saved for a down payment, the Fannie Mae HomeReady™ mortgage may be for you. HomeReady is a 30-Year, fixed-rate affordable housing program for low-to-moderate income borrowers with as low as a 3% down payment or up to 97% financing.

HomeReady is Flexible to Match Your Lifestyle

  • No need to meet a certain income level to qualify if you live in certain low-income
  • Must make 100% of Area Median Income for properties in high minority census tracts and designated disaster areas to qualify.
  • Must make at least 80% of Area Median Income for all other properties to qualify.
  • Mortgage insurance coverage lower than the standard requirement for LTV ≥ 90% to 97%
  • Refinancing to possibly remove mortgage insurance
  • Gifts, grants, Community Seconds and cash-on-hand permitted as a source of funds for down payment and closing costs.

Required Homeownership Education and Post-Purchase Support
Comprehensive homeownership online education is required for purchase transactions, but not for refinances. Fannie Mae offers additional post-purchase support throughout the life of the loan.

  • The borrower will invest 4-6 hours on average of their time and a modest fee of $75 to learn the fundamentals of buying and owning a home, take an online test and receive a certificate of completion.
  • One-on-one counseling is optional, borrower referral to an HUD-approved counseling agency for additional assistance is offered.

To learn more about HomeReady resources and updates, please visit:
Fannie Mae Homeready

Disclaimers
This is not a commitment to lend. Programs, rates, terms, and conditions are subject to change without notice. Credit and collateral are subject to approval. Equal Housing Lender.

VA Loan Refinancing
Veterans, Retirees, and Active Duty Personnel can refinance an existing VA guaranteed loan to reduce the interest rate or switch an adjustable rate to a fixed rate through the VA Interest Rate Reduction Refinancing Loan (IRRRL). No appraisal or credit underwriting is required unless upon request. IRRRL only requires applicants to certify previous ownership of the home under the loan’s coverage and may be done with no money out-of-pocket by including all costs in the new loan.

Refinance Your VA Loan

Who VA IRRL is for:

  • Qualified veterans and service personnel with a VA loan
  • Qualified VA loan owners who want to reduce their interest rate or switch from an adjustable rate to fixed rate
  • Qualified borrowers who want to refinance without an appraisal or credit underwriting
  • Qualified VA homeowners who want a streamlined refinance with no money out-of-pocket

Disclaimers
This is not a commitment to lend. Programs, rates, terms, and conditions are subject to change without notice. Credit and collateral are subject to approval. Equal Housing Lender.

We exist to provide a Resolution to an industry known to be complicated and inefficient. We provide a unique homebuyer experience through our industry leading technology fused together with personal, expert mortgage advice.

Closing Loans with Honesty and Integrity. Fast. Easy. and Personal.
Our name may have changed but the way we do business hasn’t! We promise to be the same team you have grown to respect and continuously strive to be even better!
We exist to provide a Resolution to an industry known to be complicated and inefficient. We provide a unique homebuyer experience through our industry leading technology fused together with personal, expert mortgage advice.

Closing Loans with Honesty and Integrity. Fast. Easy. and Personal.
Our name may have changed but the way we do business hasn’t! We promise to be the same team you have grown to respect and continuously strive to be even better!