Conventional Purchase Loans by Compadre Mortgage
In house conventional loan underwriting for qualified buyers. The 20% down requirement is a thing of the past. Today's conventional market offers affordable 3% to 5% down payment options, improved rate and term options combined with simplified processing and closing.
One Time Close Construction to Permanent Residential Mortgage Site Built
Single close loan home construction including lot purchase. No re-qualification or second appraisal.
Having your home built the way you want is a luxury few home owners ever get, or even think about. Our OTC program makes custom home ownership possible with an FHA loan designed for new home construction.
FHA Loans by Compadre Mortgage
FHA Loans
An FHA loan is a mortgage that’s insured by the Federal Housing Administration (FHA) with lower down payment and easier credit qualifying . They are popular especially among first time home buyers because they allow down payments of 3.5% for credit scores of 580+. However, borrowers must pay mortgage insurance premiums, which protects the lender if a borrower defaults.
FHA 203(k) Loan
Your dream home may not look like it at first, but the FHA 203(k) loan may be the answer. Purchase and remodel in a single transaction.
Today's home buyers want move-in ready homes, but they are also drawn to the bargain pricing of the many distressed properties on the market. Many buyers say they don't want a home that needs a lot of work.
Are you repeatedly considering listings you've found for charming older homes but have avoided because of needed repairs? The FHA 203(k) enables borrowers to either Purchase or Refinance their home while including rehabilitation costs in the same transaction.
Jumbo Loans by Compadre Mortgage
Loan programs should be normal where high cost housing is normal. We are pleased to offer Non-conforming Jumbo loans and Agency High Balance loans to $2,000,000 with options to 90% LTV.
Depending on your needs, the Jumbo Loan Program offers a fixed, 15-and 30-year term and 7/1 fully amortizing ARM, as well as an Agency High-Balance Loan. While loan-to-value ratio (LTV) differs based on the program, the program is an attractive option. The Jumbo Loan Program offers multiple options for those looking to finance higher-value luxury properties with agreeable terms.
Fannie Mae Homestyle® by Compadre Mortgage
The Fannie Mae Homestyle renovation loan is a single close loan that enables borrowers to purchase a home that needs repairs, or refinance their existing home and include the necessary funds for renovation in the loan balance. The loan amount is based on the "as-completed" value of the home. There are no required improvements or a minimum dollar amount for the repairs. Repairs or improvements, however, must be permanently affixed to the real property and add value to the property.
Non Qualified Mortgage Loans by Compadre Brokers
Every loan counts. That's why we offer make sense loans for those clients that don't meet conforming guidelines.
Underwriting for self-employed borrowers and investment based applicants with loan to values as high as 90%. Bank statement verification of income and declining asset qualification programs allow us to provide common sense lending to an increasingly diverse market.
Down Payment Advantage Program
Purchase your home with as little as 1.5% of the purchase price.
2% down payment assistance for first time home buyers plus a wide variety of additionally eligible borrowers. Reduce your total down payment to 1.5%.
Compadre Mortgage VA Loans
A VA loan is a mortgage loan that’s backed by the Department of Veterans Affairs (VA) for those who have served or are presently serving in the U.S. military. While the VA does not lend money for VA loans, it backs loans made by private lenders (banks, savings and loans, or mortgage companies) to veterans, active military personnel, and military spouses who qualify.
Fannie Mae HomeReady™ Loan Program by Compadre Mortgage
Fannie Mae HomeReady™ is designed to serve today's market of creditworthy, low-to moderate-income borrowers, with expanded eligibility for financing homes in designated low-income, minority, and disaster-impacted communities. A 3% down payment option provides first time home buyers that are credit and income qualified, but are still growing their assets and may not have a large down payment available.