Home Buyer Loans

On this page you will find:     *Government Purchase Programs              *Conforming Mortgage Programs     *Non-conforming Mortgage Programs     *Alternative Mortgage Programs     *Apply Online

Buying a new home is a true sense of accomplishment. It is apart of the American Dream. Homeownership allows you to have freedom, space, and the start of wealth accumulation. Now that you've decided to purchase a home, you need financing to make the dream come true. Acute Financial Solutions is a trusted mortgage brokerage that will find the mortgage loan that will best fit you needs. Less paperwork and more personal attention means you enter into a stress-free loan process from application to closing. Obtaining the right mortgage is necessary and we will assist in that decision. There are many mortgage programs to choose from. Our job is to explain the options available to you so that you can make an educated, informed decision. Check out a few of the programs that are available.

 

Government Purchase Programs

There are three different government purchase programs; FHA, USDA, and VA. Each program is geared toward first time home buyers, low to moderate income borrowers with low to no down payment money. These programs also help if the borrowers' credit is low or if the borrower does not have established credit. There are some limitations to these loans. Please consult with an Acute Financial Loan Specialists to help determine if a government mortgage will fit your needs. For more information on FHA Mortgages, click here For more information on USDA Mortgages, click here For more information on VA Mortgages, click here                            Call our loan specialists for free loan consultation at 407-931-1284 or apply online.

Conforming Mortgage Programs

These loans offer the best rates and terms available on the mortgage market. Conforming mortgage programs is a type of mortgage in which the underlying terms and conditions meet the funding criteria of Fannie Mae and Freddie Mac. The conforming loan limit for 2008 is $417,000 and in high cost areas the loan limit is $625,500. About 35-50% of mortgages, depending on market conditions and consumer trends, are conforming mortgages. In other words, Fannie Mae and Freddie Mac guarantee or purchase 35-50% of all mortgages. Conforming mortgages may be fixed-rate or adjustable-rate mortgages. They may also be principal interest payment or interest only payments. To Qualify for this Loan, Home Buyers Need the Following: *Down payment of at least 10% of the sales price;  Mortgage Insurance is needed if the down payment is less than 20%. *Credit score above 680 *Verifiable Income and Employment *Verifiable Assets *Excellent Mortgage/Rent Payment History  For up to date interest rates, call Acute Financial Solutions at 407-931-1284 or apply now.

 

Non-Conforming Mortgage Programs

These loans offer more flexible mortgage terms and qualifying methods. A non-conforming loan is a loan that fails to meet a traditional bank's criteria for funding. Reasons include the loan amount is higher than the conforming loan limit (for mortgage loans), lack of sufficient credit, the unorthodox nature of the use of funds, or the collateral backing it. In many cases, non-conforming loans can be funded by hard money lenders, or private institutions/money. A large portion of real-estate loans are qualified as non-conforming because either the borrower's financial status or the property type does not meet bank guidelines. Non-conforming loans can be either A-paper or subprime loans. The flexibility of private money can allow for a much wider range of deals to be funded, although more detailed and substantive collateral and documentation may be required by a lender. Loan Challenges and it's Remedy! If You: Then You Need: *Cannot Verify Income *Stated Income Loan *Cannot Verify Assets *Stated Asset Loan *Cannot Verify Income or Assets *Stated Income and Assets Loan *Cannot Verify Income, but Have    Consistent Deposits into Own Bank Account *12 Months Bank Statement Loan *Imperfect Credit with Assets *Private Financing *Imperfect credit with little to no assets *Seller Financing  There are too many challenge and remedy scenarios to name. If you have a challenging scenario, please contact our loan specialists at 407-931-1284 for free consultation. We are capable of assisting in any situation.