Featured Loan Programs

HARP Program
The HARP Program was designed to help homeowners with little to no equity in their home as well as homeowners that were underwater refinance their loan into a fixed rate with lower monthly payments.

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Conventional Loan Program
Conventional loans are common loan programs that can typically provide qualifying borrowers with a lower rate mortgage solution. This loan program is not guaranteed by a government agency and are made by private lenders.

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FHA Loan Program
FHA Loans are mortgage loans insured by the Federal Housing Administration (FHA). These loans typically have looser guidelines and can provide options for first time home buyer, senior citizens, home improvements, and lower credit score applicants.

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VA Loan Program
VA Loans are mortgage loans designed to provide more attractive financing options to Veterans and are guaranteed by the U.S. Department of Veterans Affairs (VA).

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Jumbo Loan Program
Jumbo loans are mortgages that are typically over a loan amount of $417,000. Certain states and counties have higher loan limits. Jumbo loans can have both fixed or adjustable interest rates.

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Finding a Loan Program that Meets Your Needs

Let Us Find the Right Program For You.

Advance Mortgage Lending has wide array of loan programs. Below is a list of some of our programs. It’s important that you speak with one of our friendly mortgage professionals so that we can help determine which program best fist your needs.

 

Contact Our Friendly Mortgage Professionals with any Questions

Call to Review Loan Programs:  (855) 224-3222 or (305) 371-8181

Program (Click for more Information)BenefitsDrawbacks
Program (Click for more Information)BenefitsDrawbacks
Purchasing and Refinancing
620 minimum credit score required
Lowest rates available
Very fast underwriting (quicker closings)
Multiple loan program options.
LTV options based on programs.
Guidelines are more strict than in past years.
Conventional Loans
640 minimum credit score required
lowest rates available
very fast underwriting (quicker closings)
automated underwriting provides instant approvals
LTV's up to 95% on purchase and refinance for owner occupied & second homes
LTV's up to 80% for non owner occupied homes
640+ required for over 85% LTV
Mortgage Insurance is normally higher than government loan programs
Automated Underwriting is only options. More restrictive approval guidelines
FHA Loans
640 minimum credit score required
96.5% LTV on purchase or no cash out refinance 95% LTV for cash out refinance Very low mortgage insurance coverage
640+ credit for automated approvals
Manual Underwriting - less restrictive credit requirements
Very low 30 year fixed rates
Seller can pay all closing costs
Streamline refinance requires less documentation when refinancing FHA to FHA
Requires mortgage insurance at all LTV's
Only for owner occupied homes
Can only have 1 FHA loan active at a time
Full documentation only
VA Loans
640 minimum credit score required
Up to 102% financing
No mortgage insurance
Less restrictive credit guidelines
Seller can pay all closing costs
Streamlined refinance with less documentation when refinancing from VA to VA
Low 30 year fixed interest rates
Must be VA eligible
Owner occupied homes only
Can only have 1 VA loan active at a time
Takes longer process than other loan programs
USDA Rural Loans
640 minimum credit score required
102% Loan to Value
Higher debt to income allowances
Low 30 year fixed interest rates
Closing costs can be included into loan or paid by seller
True $0 down payment loan.
Property must be in an eligible USDA location in Florida
Income restrictions apply based on size of family
Only loan in Florida that offers 100% financing for non military
Hard Money Loans
* $100,000 Min Loan Amount
* 40% Down payment Min. Req.
No Income requirements
No asset requirements
No minimum credit scores required
Up to 60% LTV on refinances and purchases
Close in a matter of days
Higher Interest Rates
Lender typically charges more points
Commercial Loans
* $100,000 Min Loan Amount
* 40% Downpayment Min. Req.
High LTV income producing purchase loans
Low rates for income producing properties
Bridge loans for non income producing properties
Low rates for commercial loans
Loans typically take longer to close than residential
Appraisal and title fees are typically required upfront
Rehab Loans
* $100,000 Min Loan Amount
* 40% Downpayment Min. Req.
Finance purchase price and rehab expenses
Fast closings
Easy draw schedules
Interest reserves. No payments required for first six months
Incentives for repeat business
Higher interest rates than conventional loans
Typically upfront points financed into loan
Jumbo LoansLoans above the conforming loan limits - over $417,000
Full Documentation only
Rates are higher than conforming rates
Super Jumbo LoansLoans above the conforming loan limitsRates are higher than conforming rates
1st Time Home Buyers
640 minimum credit score required
100% financing
No reserve requirements
Gifts allowed
Full Documentation Required
Foreign National Loan
* $100,000 Min Loan Amount
* 40% Down payment Min. Req.
No Doc Loans
Stated Loans
Loans up to $5M
Interest rate are higher than conventional Financing
No Doc Loans
* $100,000 Min Loan Amount
* 40% Downpayment Min Req
No income requirments
No asset requirements
No employment requirements
Higher Rates than traditional financing
Stated Income Loans
* $100,000 Min Loan Amount
* 40% Downpayment Min. Req.
No need to verify income or assets
Interest only available
30-40 year fixed rates available
Must state income. Not a no doc loan Interest rates higher than conforming rates
Self Employed LoansFull doc options
Stated Income and No doc available
30 year fixed rates, Arms, Interst only available
Reverse MortgagesNo Income | No Credit Requirements
Get lump sum or payments over time
Must be 62 or older
Must be primary residence
Investor Loans
Cash Out Refinance
125% Financing
30 Year Fixed
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