Conventional loans offer flexibility. Whether you want a low downpayment, you want to avoid paying mortgage insurance, or you have a specific payment timeframe in mind, there's a conventional loan well-suited for you. If you have the right financial history, a conventional loan can give you the best deal for your mortgage.
Most loan types are backed by a government agency (e.g. the Federal Housing Administration or the Department of Veteran Affairs). Conventional loans are backed by no one, meaning you'll have to pay mortgage insurance if you aren't able to put down at least 20%.
A conventional loan is the most common among homebuyers and refinances. It will allow borrowers to have low down payment, flexible terms, and a quicker turn time on approval process. Conventional loans follow the guidelines set by Fannie Mae and Freddie Mac and have a maximum loan amount (in most counties) of $726,200.
Designed to lower the threshold of requirements to allow more borrowers to have the opportunity at homeownership. Insured and regulated from the Federal Housing Administration. FHA Loans provide borrowers with low down payments and competitive interest rates, even with individuals that have challenging credit scores.
Service members and their families deserve special consideration when applying for a loan. If you've served in the military, you probably won't be expected to give a down payment. As well, you won't be required to pay monthly mortgage insurance. These loans offer such good deals because they're backed by the US Department of Veteran Affairs (VA).
At Kolar Capital , we're proud to say we work with veterans every step of the way during the loan application process. We'll guide you through requirements, documentation, and more.
Offered to active service members, veterans, National Guard, and their families. It provides service men and women with 100% financing (no down payment) with no mortgage insurance. VA Loans can be used to purchase a home or refinance existing property, and are guaranteed by the Department of Veteran Affairs.
When a borrower's situation doesn’t fit inside the box of a ‘qualified mortgage’ (meets all the consumer protection requirements of the Dodd-Frank Act) they may fit the requirements set forth by lender/investors who offer a non-Qualified mortgage loan. Most individuals considering these options may have–or be: Self-employed, higher debt-to-income ratio, real estate investors, or looking for a mortgage over the conforming lending limits ($726,200).
In the 21st century, the way consumers do business has evolved, and continues to evolve rapidly. Communication--along with information-- is more accessible than ever before. However, purchasing or refinancing a home can seem daunting and confusing. At Kolar Capital LLC we set communication, transparency, and education above all else. Taking our clients from the first phone call to the closing table and beyond; with a personalized one-on-one experience.
“I didn't think I could get a loan, but Kolar Capital found several good options.”
“If you're looking for the best mortgage brokers in Malibu, look no further.”
“You guys were there for me when I really needed someone.”
“I don't plan on buying another home in the future. But if I do, I'll go to Kolar Capital.”
At Kolar Capital, we understand that buying a property can change your life. That's why we're dedicated to ensuring you get the mortgage you need.
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