Welcome to WealthifyMe, your trusted mortgage brokerage for all your home financing needs. We offer a wide range of traditional loan types to help you secure the home of your dreams. With our expertise and experience, we can guide you through the process and help you find the right loan that suits your unique financial situation.
Conventional Loans
Conventional loans are the most common and popular type of home loan. These loans are not guaranteed or insured by the government and are usually offered by private lenders such as banks and credit unions. Conventional loans have more strict requirements than other loan types, including higher credit scores, lower debt-to-income ratios, and larger down payments. However, they offer a wider range of loan terms and interest rates, making them a great option for borrowers with strong credit.
FHA Loans
FHA loans are backed by the Federal Housing Administration and are designed to help first-time homebuyers and low-to-moderate income borrowers. FHA loans require a lower down payment (as low as 3.5%) and have more lenient credit requirements than conventional loans. Additionally, they offer competitive interest rates and can be used to purchase or refinance a home.
VA Loans
VA loans are guaranteed by the Department of Veterans Affairs and are exclusively available to veterans, active-duty military members, and their families. VA loans offer many benefits, including no down payment requirements, competitive interest rates, and no mortgage insurance premiums. They can also be used to purchase or refinance a home.
USDA Loans
USDA loans are guaranteed by the U.S. Department of Agriculture and are designed to help low-to-moderate income borrowers in rural areas purchase a home. These loans offer no down payment requirements and competitive interest rates. Additionally, USDA loans have more lenient credit requirements than conventional loans.
Jumbo Loans
Jumbo loans are a type of conventional loan that exceed the conforming loan limits set by Fannie Mae and Freddie Mac. These loans are used to finance high-end homes and typically require larger down payments, higher credit scores, and more strict income requirements.