Loan Programs

BrandMortgage recognizes the fact that no two customers or situations are exactly alike. That’s why we offer an extensive menu of products to best serve your individual needs. Below are just a few loan programs that we offer.

With Brand’s strong and growing inventory of products, the Loan Star Team is able to help you choose a mortgage solution that combines the right down payment, monthly payment and tax benefit for your needs.

To determine which product is just right for you, please contact one of our Loan Star Team professionals.

Conventional

A mortgage loan that is not insured or guaranteed by the federal government. The maximum mortgage amount for a conventional conforming loan is $417,000.

ARM 3/1, 5/1, 7/1

A mortgage with an interest rate and payment that changes periodically over the life of the loan based on the change in a specific index. Adjustable rate mortgages may have features that allow for the interest rate and payments to be fixed for an initial period (3 years, 5 years, 7 years, 10 years) and thereafter adjusting periodically based on the specific index.

Jumbo

A mortgage with a loan amount greater than $417,000. Jumbo loans typically require a larger down payment and a higher interest rate than loans less than $417,000.

VA Mortgage

A loan guaranteed by the Veterans Administration. This loan is available to qualifying veterans of the armed forces and provides for 100% financing. The maximum 100% loan is currently $417,000. VA loans exceeding $417,000 are also available.

Woman selling house

 

FHA Mortgage

A loan insured by the Federal Housing Administration. This product typically requires a 3.5% down payment and the Federal Housing Administration sets maximum mortgage limits by state and county.

USDA

This loan type provides 100% financing with minimal mortgage insurance. The home and the borrower’s income must meet program guidelines.

Bond Loans/Down Payment Assistance

State Housing Finance Agencies help make home ownership affordable through fixed-rate FHA, VA, USDA and Conventional mortgages at favorable terms along with down payment assistance options for qualified borrowers.