Loan Programs
A seamless experience from start to finish
At LendingNest, we’re here to help you find the most suitable mortgage program for your current life situation and future goals. We offer a wide variety of loan options to meet the unique needs of our clients. We understand selecting the right loan product can be overwh elming; however, our mortgage professionals will provide tailored advice to help you make the best financial decision for you and your family. Speak to your LendingNest loan originator to learn more.
Loan Programs
Conventional
A conventional mortgage is a non-government loan that meets requirements set by the Federal Housing Finance Agency (FHFA), and meets the funding criteria of Fannie Mae and Freddie Mac. Conventional loans can be obtained on primary occupancy homes, second homes, and investment properties. Homebuyers seeking a conventional loan typically enjoy the largest selection of loan options at the most favorable terms.
FHA
An FHA loan is a government-backed mortgage insured by the Federal Housing Administration (FHA). FHA loans make buying a home more affordable with competitive interest rates, low down payments, and flexible credit terms. It can be easier to qualify for an FHA loan compared to a conventional mortgage. While FHA loans are popular with first-time homebuyers, they are available to anyone who qualifies.
Adjustable Rate Mortgage
An adjustable rate mortgage (ARM) is a loan term option with interest rates that can change periodically after the initial fixed-rate period. After this introductory period, monthly payments are susceptible to increases or decreases based on market fluctuations. An ARM could be the right choice for you if you plan on staying in your home for just a few years, you’re expecting a future pay increase, or the current interest rate on a fixed-rate mortgage is too high.
VA
A VA loan is a mortgage loan created specifically for eligible military veterans, service members, and their spouses. VA Loans offer veterans home loan rates that are lower than traditional mortgages, and can allow veterans to borrow up to 100% of the property’s value. For eligible homebuyers, qualifying for a VA loan can also be easier than other mortgage financing programs. With no down payment, low credit scores accepted, and flexible income requirements, the VA loan program helps many of our military members find a place to call home.
USDA
United States Department of Agriculture (USDA) loan, is a 0% down payment mortgage designed to help low-to-moderate income households. USDA loans are used to buy a home in a designated area, that covers several rural and suburban locations.
Jumbo
Jumbo loans allow borrowers to obtain home financing outside Fannie Mae or Freddie Mac conventional loan limits putting the home of your choice at your fingertips. Jumbo Loan is right for you, if you are looking to buy a high priced or luxury home. Loan limits vary depending on the location of the property.
FHA Streamline Refinance
The FHA Streamline Refinance program is for homeowners with existing FHA mortgages. This program allows homeowners to refinance their property without an appraisal. Regardless of what the home is actually worth, the homeowner is able to use the original appraised value as the home’s current value.
VA Streamline Refinance
The VA streamline refinance is also known as the VA IRRRL program, which stands for Interest Rate Reduction Refinance Loan. The VA streamline refinance program is for homeowners with an existing VA loan. VA IRRRL refinances let you lower your rate and monthly payment with less paperwork and faster closings. Credit qualification is easy, and there is no home appraisal or income verification required.