Traditional Mortgages

Ideal For: Homeowners planning long-term residency; those with strong credit and a bigger home buying budget

Key Considerations:

• Terms that may let you pay off your mortgage sooner
• You can choose from a variety of terms
• Not backed by governmental agencies like FHA (Federal Housing Administration) or VA (Veterans Affairs)

Ideal for: U.S. active military or Veteran and surviving spouses

Key Considerations:

• A Veteran Affairs loan offers veterans little to no down payment on a home purchase
• You may be eligible if you are a commissioned officer of the Public Health Service
• Up to 100% Financing available

Ideal for: First time home-buyers and those looking to buy a home with a lown down payment.

Key Considerations:

• An FHA Loan is Government insured
• You have a qualifying income
• You want to refinance their existing loan at a lower rate
• Sellers can pay closing costs up to an amount equal to 6% of the sales price/value
• You have low or no credit
• 3.5% Down Payment

Ideal For: Home buyers needing mortgage amounts over $806,500.

Key Considerations:

• You want to borrow more than $806,500
• Fixed and adjustable-rate loans available

Ideal For: Those needing to use the equity in their home as collateral to borrow money. 

These Can Be Used For:

• Education
• House projects/renovation
• Debt consolidation
• Celebratory events, like weddings

We're here to help you with any of your home needs. Whether you're just starting out in the new home process, or you are ready to refinance, our Extraco Mortgage Consultants are ready to help. Contact a consultant today to get started on refinancing your home.