Loans and Products:
During your Pre-approval process we'll ask you to fill out an application and send us some documents. Our mortgage advisors will analyze your situation and then review your options with you before looking for a home. This enables you to accurately plan for your financial obligations long before you sign a purchase agreement. Know before you commit to the biggest loan of your lifetime. Questions? Please reach out here!
Conventional
These are the most sought after loans due to their lower fees, more leeway regarding underwriting requirements, and are the one universally accepted type of financing by sellers. There are a few different types.
VA
These are designed to help those who've served in the armed forces and their spouses. The biggest selling point is the 0% down payment option, along with more flexibility with credit and underwriting.
FHA
These are designed to help in 2 major areas. The 1st is for those who have less than perfect credit, and the 2nd is for those who need a low down payment (including 2-4 unit properties).
Non-QM
These are alternative financing options, through private financial backing. There are many different programs available. Some of the most popular options are geared towards the self-employed, 1099 employees, investment properties, and those who don't have ideal credit but do have a 20% down payment.
USDA
These are designed to lower or eliminate the need for a down payment, and also to encourage people to buy properties outside major cities and metro areas. Only specific areas apply.
Commercial
These are geared towards commercial properties and vary depending on the situation.
Custom Made Mortgages is not affiliated or endorsed by the government, FHA, VA, or USDA.
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