Finding a loan that fits
Researching your loan options and looking for the perfect fit? First, consider what kind of property you’re looking for and what you can afford. You want a home that makes you comfortable and fits within your budget.
Buying a home for the first time? The process may seem daunting, but we have some helpful hints tohelp you feel more secure and supported.
If you’ve already been around the block as a homeowner, consider whether you can refinance to get into a lower rate. We can also help with buying a second home if you’re in the market.
As for loan options, we’ve got plenty.
A conversation with one of our loan officers will help determine what fits you best, but here is a sampling of our portfolio to get you started:
FHA Purchase Loans— low down payment, flexible credit requirements
- 3.5% down payment options available
- Allows non-occupying co-borrower
- Down payment and closing costs may be gifted
USDA Loans — government-backed for rural areas, purchase or refinance
- No private mortgage insurance (PMI), plus low monthly guaranteed annual fee
- Only applies to designated rural properties
Conventional Loans— purchasing power with flexible requirements
- No mortgage insurance options for borrowers with less than 20% down
- Extended rate lock programs
- Finance 2-4 unit property with 5% down options
- More flexible appraisal and condo requirements
Jumbo Loans— higher loan values but with similar financial perks of smaller loans
- For borrowers in the market for a home loan above $453,100
- 90% LTV options up to $1.25M with no private mortgage insurance
- No PMI and 10% down options on loans up to $3MM
*Not all applicants will be approved for financing. Receipt of application does not represent an approval for financing or interest rate guarantee. Restrictions may apply, contact Proper Rate for current rates and for more information.
Proper Rate, LLC is a private corporation organized under the laws of the State of Delaware. It has no affiliation with the US Department of Housing and Urban Development, the US Department of Veterans Affairs, the US Department of Agriculture or any other government agency.