Loan

Programs

Discover the Perfect Loan Program for Your Needs

Explore Loan Programs

At Home Got Owned, we offer a range of loan programs designed to meet diverse financial needs and help you achieve your homeownership or investment goals. Whether you're buying your first home, refinancing an existing mortgage, or looking for specialized financing options, we have a solution tailored for you. Explore loan programs to find the best fit for your financial situation.

Conventional Mortgage

A Conventional Mortgage offers a stable interest rate and predictable monthly payments over the life of the loan, typically ranging from 15 to 30 years. It’s not backed by the government, making it ideal for borrowers with strong credit. FRMs provide long-term stability, ensuring that your payment amount won’t change, making it easier to plan and budget for the future.

FHA Mortgage

An FHA Mortgage Loan, backed by the Federal Housing Administration, is designed for first-time homebuyers or those with lower credit scores. It offers lower down payments (as low as 3.5%) and more flexible credit requirements than conventional loans. FHA loans are ideal for buyers with limited savings or credit challenges, making homeownership more accessible with government-backed security.

VA Mortgage

A VA Mortgage Loan, backed by the U.S. Department of Veterans Affairs, offers exclusive benefits for veterans, active-duty service members, and eligible spouses. Key advantages include no down payment, no private mortgage insurance (PMI), and competitive interest rates. VA loans are designed to make homeownership more accessible and affordable for those who have served or are serving in the military.

Home Equity Loans

A Home Equity Loan allows homeowners to borrow against the equity they’ve built in their property. It's a lump sum loan with a fixed interest rate and monthly payments, using your home as collateral. Typically used for major expenses like home improvements or debt consolidation, it offers predictable payments and is ideal if you need a large amount upfront while leveraging your home's value.

Adjustable Rate Mortgages (ARM)

An Adjustable Rate Mortgage (ARM) features an interest rate that starts low and remains fixed for an initial period (e.g., 5 or 7 years), then adjusts periodically based on market conditions. After the fixed-rate period, the rate may increase or decrease, impacting monthly payments. ARMs are ideal for those planning to sell or refinance before the adjustment, offering initial savings with flexibility.

Refinance Mortgage

A Refinance Mortgage Loan allows homeowners to replace their existing mortgage with a new one, typically to secure a lower interest rate, adjust loan terms, or access home equity. Refinancing can reduce monthly payments, shorten loan duration, or provide cash for major expenses. It's an effective way to improve your financial situation by optimizing your mortgage based on current market conditions.

Jumbo Loans

A Jumbo Loan is a mortgage that exceeds the conforming loan limits set by the Federal Housing Finance Agency (FHFA). Designed for high-value properties, jumbo loans allow you to finance luxury homes or properties in competitive markets. They typically require a higher credit score, a larger down payment, and offer flexible terms. Jumbo loans are ideal for buyers needing larger-than-average financing amounts.

Reverse Mortgage

A Reverse Mortgage Loan allows seniors (62+) to convert home equity into cash while retaining ownership. Instead of making monthly payments, the lender pays the homeowner, with the loan repaid when the homeowner sells the house, moves, or passes away. It’s a way to access funds for retirement expenses or healthcare, with no monthly payments and a requirement to maintain the home.

Construction Loans

A construction loan is a short-term financing option designed for building a new home or major renovations. Funds are disbursed in stages, or "draws," as the project progresses, and during construction, you make interest-only payments. Once completed, the loan can be converted into a traditional mortgage. With customizable options and flexible terms, construction loans allow you to create your dream home from the ground up.

Self-Employed Borrowers

Self-Employed Borrowers often face unique challenges in securing mortgages due to variable income and complex financial documentation. Lenders typically require detailed tax returns, profit-and-loss statements, and a stable income history. While it may be more challenging to qualify, there are mortgage options designed to accommodate self-employed individuals, reflecting their unique financial profiles.

Borrowers With Considerable Assets

Borrowers with Considerable Assets are individuals who possess substantial financial resources, such as investments, savings, or property. Lenders view these borrowers as low-risk due to their strong financial position. They may benefit from favorable loan terms, including lower interest rates and higher borrowing limits, as their assets provide added security and demonstrate financial stability.

Real Estate Investors

Real Estate Investors purchase properties for income generation or capital appreciation. They seek financing options that support property acquisition, renovation, or expansion. Lenders often evaluate their experience, financial stability, and investment strategy. Real estate investors may benefit from specialized loans tailored to rental properties, multi-family units, or commercial real estate, aiding their investment goals.

Foreign Buyers

Foreign Buyers are non-U.S. residents seeking to purchase property in the U.S. They face unique challenges, including navigating different regulations and securing financing. Lenders may require additional documentation, such as international credit reports and proof of income. Despite these hurdles, foreign buyers can access mortgage options tailored to their needs, facilitating property investment in the U.S.

Buyers With Blemished Credit Histories

Buyers with Blemished Credit Histories may face challenges in securing a mortgage due to past credit issues. Lenders assess their risk based on credit scores, payment history, and financial stability. While higher interest rates or larger down payments may be required, there are mortgage options available, including FHA loans, designed to accommodate those with less-than-perfect credit, helping them achieve homeownership.