The following is a partial list of programs offered by LynkFinancial.com with a brief description of key elements.
Typically insured by private mortgage insurance companies. Available for borrowers with as little as 3% down payment with good to excellent credit. Owner and Non-Owner Occupied properties up to 4 units.
Insured by FHA. Offers 3.5% down, allows for lower credit scores and higher debt to income ratios.
VA Mortgages â€” for Veterans only.
Insured by the Veterans Administration. Owner occupied properties up to 4 units. Requires no down payment. Good to excellent credit.
USDA Mortgages - Rural loans
Insured by USDA. Owner occupied properties. Requires no down payment. Good to excellent credit. Property must be in the approved rural mapped area. Income limits.
Down payment as little as 5%. For borrowers with good to excellent credit.
Non-QM Loans â€” for those borrowers with hard-to-prove sources of income, limited funds for down payment, and/or poor credit history
Loan amounts vary by investor. Interest rates are typically higher than other loan types and vary depending upon severity of credit problems and other variables.
Reverse Mortgages - for borrowers age 62 or older
Allows the borrower to use the equity in their home to receive lump sum payments or monthly income. Borrower must own the home outright or nearly so. There is no monthly payment.
Commericial Mortgages -
SBA, Traditional and Non-Traditional loan programs. Small, Medium and Large scale business products available.
HELOCs and Home Equity Loans -
Loans that are in second lien position you a home. HELOC's are lines of credit that can be drawn, repaid, and drawn again for a period of time. Home Equity Loans have a fixed term, fixed payment and the loan amount is funded in full on the disbursal date of the loan.