Agency Loan Programs
Agency loans are more commonly recognized as your traditional loan programs that meet Fannie Mae and/or Freddie Mac underwriting guidelines as well as government secured products.
A fixed rate mortgage is a home loan option with specific interest rate with a set term. The principal and interest payment will remain the same for the life of the loan. The monthly mortgage payments could still increase due to increases in property taxes, insurance, and other expenses.
Adjustable-Rate Mortgage (ARM)
An adjustable-rate mortgage (ARM) is a loan with an interest rate that changes. ARMs may start with lower interest rate than fixed rate mortgage, but they will rise over time. Arms are great for borrowers who plan to move within a for years or expect more income in the future.
A conventional loan is a type of home mortgage loan that is not backed by federal mortgage assistance and offer more loan options. They typically have lower rates since the borrowers have a more stable income and credit. Many home buyers prefer conventional loans because they do not carry many of the fees charged with government-backed loans.
HomeReady® offers financing to help homebuyers who would otherwise qualify for a mortgage but may not have the resources for a larger down payment. HomeReady mortgages offer low rates, minimal risk-based price adjustments compared to other programs, and reduced mortgage insurance costs.
A jumbo loan is required when the loan exceeds the standard conventional loan limits that exceeds the limits set by the Federal Housing Finance Agency (FHFA) in your area.
The Federal Housing Administration (FHA) was established in 1934 and insures your loan allowing approved lenders the opportunity to provide a better offer to their customers. FHA assists people in becoming homeowners by providing lower down payment requirements and a more lenient credit guidelines.
The Department of Veteran Affairs (VA) assists eligible service members, Veterans and surviving spouses with exclusive benefits that assist with the purchasing of a new home. VA Home Loans are provided by private lenders, such as Integrity Home Mortgage Corporation. VA guarantees a portion of the loan, enabling us to provide you with more favorable terms.
The United States Dept. of Agriculture Rural Development (USDA / RD) Single Family Housing Guaranteed Loan Program assists approved lenders like Integrity Home Mortgage Corporation provide financing for low income rural residents and gives homeownership opportunities to many families in rural America.
Virginia Housing Development Authority (VHDA) assists first-time homebuyers or those who have not owned and occupied a home in the last three years with affordable home financing options. VHDA provides fixed rate mortgages, flexible underwriting and down payment and closing costs assistance to qualified buyers. All loans have maximum income, sales price and loan limits that vary depending on location of subject property.
Integrity Home Mortgage Corporation is not affiliated with or acting on behalf of or at the direction of. FHA, VA, USDA (RD), VHDA or the Federal government. All applications are subject to underwriting guidelines and approval. This does not constitute an offer to lend. Not all applicants will qualify for all loan products offered. All loan programs, terms and interest rates are subject to change without notice. All fees are subject to state and federal high cost thresholds.
Non-Agency / Portfolio Program Options
Non-Agency, or a non-qualified mortgages, are types of mortgage loans that allows borrowers to qualify based on alternative methods, instead of the traditionally required financial documents and income verifications.
The Bank Statement mortgage program is the perfect option for self-employed borrowers who need an alternative method to show the true cash flow of their business. No tax returns required for credit worthy self-employed homebuyers.
Investor Cash Flow/DSCR
The Investor Cash Flow mortgage program allows your clients to qualify based on rental analysis to determine property cash flow. NO Tax Returns and NO Employment Information required to qualify.
Individual Tax Identification Number (ITIN) mortgage loans are for individuals who do not have Social Security numbers. ITIN card holders should call to discuss requirements and eligibility.
122 Pilot Circle, Winchester, VA 22602