Procura Mortgage Company proudly serves those who have served.
The Veterans (VA) loan programs are designed to provide access to home financing for active military personnel and U.S. veterans. VA home loans are guaranteed by the U.S. Department of Veterans Affairs.
Benefits of a VA home loan:
Refinancing with a Federal Housing Administration (FHA) streamline loan may be just what you need. The flexible guidelines and lower credit requirements help many people reduce their monthly payments.
Benefits of a FHA streamline refinance loan:
A Federal Housing Administration (FHA) home loan might be the perfect fit. You may use an FHA-insured mortgage to purchase a new or existing 1-4 unit home, a condominium, or a manufactured home on a permanent foundation.
Benefits of a FHA home loan:
A portfolio home loan can help finance your primary residence. You may use a portfolio home loan to purchase a new or existing single-family residence or detached or zero lot line home.
Benefits of a low down payment portfolio home loan:
Your house may not truly feel like a home until it fits you and your family. If you're buying a fixer-upper, the FHA 203(k) streamlined rehabilitation (limited repair) program lets you finance up to an additional $35,000 into your mortgage for property repairs or improvements to your home or rental property.
The program can be used for a number of improvements and repairs including:
Benefits of a FHA 203(k) home loan:
The USDA Rural Development Guaranteed Housing Loan Program (USDA RD) is primarily used to help low-income individuals or households purchase homes in rural areas. Funds can be used to build, repair, renovate or relocate a home.
USDA RD loans are fixed-rate, 15-year or 30-year mortgages and require no down payment. They are only available in designated rural areas and income limits for borrowers vary per area.
Benefits of a USDA RD home loan:
Coming up with the money for a down payment is often the largest hurdle facing first-time homebuyers. Fortunately, there is help available in the form of down payment assistance. First-time homebuyer down payment assistance programs are available in every state. Many states have set up agencies to provide special programs to help potential first-time buyers overcome obstacles in buying their first home.
Many states offer outright cash grants for down payment, while others will provide a low-or zero-interest loan to cover the down payment.
Benefits of down-payment assistance for your first home loan:
Adjustable Rate Mortgages (ARMs) aren't for everybody. They are ideal for borrowers with stable increasing income potential, since the rates for these mortgages are usually lower during the first few years. Homeowners who are looking for short-term purchases also enjoy the adjustable rate mortgage option.
Benefits of an adjustable rate home loan:
Fixed-rate mortgages are the most common mortgage for first-time homebuyers because they're stable. Typically the monthly mortgage payment remains the same for the entire term of the loan allowing for predictability in your monthly housing costs.
Benefits of a fixed-rate home loan:
We have home loans available for manufactured homes that are taxed as real estate, double-wide, and built after June 16, 1976.
Benefits of a manufactured home loan:
The Section 184 loan program is designed to provide access to home financing to American Indian and Alaska Native tribal members. Section 184 home loans are administrated through the Housing and Urban Development (HUD) Office of Native American programs.
Benefits of a Section 184 home loan:
Any loan over the $417,000 conventional loan limit is referred to as a jumbo loan. Loan limits may differ on a county-by-county basis.
Jumbo loans are much more flexible than most people think. They can be a fixed-rate or adjustable rate mortgage, whichever suits your purpose.
Benefits of a jumbo home loan:
When it comes to buying investment property, you need to understand the numbers. Investors have different goals. Some want to buy a single-family home, duplex, or multi-family (1-4 units). Others want to buy a vacation home in an area they want to visit. They may use it from time to time and rent it out the rest of the year. Whichever approach you decide to take, make sure you understand the numbers, including the cost of financing, a down payment, repairs, etc. Be realistic about whether you can afford to make the mortgage payments for as long as it may take to find a buyer or a tenant.
Benefits of an adjustable rate home loan:
Procura Mortgage Company offers a wide range of mortgage loan options at competitive rates. The staff of mortgage professionals can help you decide which program is best for you.