If you’re ready to refinance and have good credit and a low debt-to-income (DTI) ratio, a Conventional Loan Program is a good option to explore.
If you’re looking to refinance but may not qualify for a conventional loan, the FHA Loan Program may be a good option for you.
If you’re ready to refinance your property and it falls outside of conforming mortgage purchase limits, the Jumbo Loan Program is an option to explore.
The VA Loan Program benefit doesn’t run out, which means you can use it for the first time or any time after that. So if you’re looking to refinance and you meet the established service requirements, this could be a great program to explore.
If your home is in rural or suburban America and you’re looking to refinance, the USDA Loan Program could be for you. It’s designed for those looking for an alternative to traditional lending options.
Nucasa Mortgage is not affiliated with or acting on behalf of or at the direction of FHA, VA, USDA, the Federal or State Government.
USDA uses two fees: an upfront guarantee fee that is paid by the applicant once when you close on the loan, and an annual fee, which gets lumped into your monthly mortgage payment. The upfront fee is 1 percent of the total financed amount, while the annual fee is 0.35 percent of the loan's current balance. Income and property eligibility requirements apply; visit eligibility.sc.egov.usda.gov complete details.
Borrower pays only the interest on the mortgage through monthly payments for the fixed term of the loan. Borrowers are required to pay off the principal of the loan. Borrowers are also required to make a one-time balloon payment due 6 months from the date of closing.
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