Home loans are not one size fits all. Which home loan best describes you?
Conventional loans come in a variety of options and with excellent advantages for qualified borrowers. While FHA and other government loans can have certain property restrictions, a conventional loan can be used on nearly all property types.
This unique loan program is offered through the Rural Housing Service, an agency of the U.S. Department of Agriculture. A USDA loan is designed to assist low- and moderate-income rural residents by providing better access to affordable housing finance options with little or no out-of-pocket costs in eligible areas.
An FHA home loan from ALCOVA Mortgage can be the key to helping you purchase a home even if you don’t have a lot saved or have less-than-perfect credit. Compared with conventional loans, FHA loans offer lower down payments, lower closing costs, and less restrictive credit score requirements.
Veterans Affairs mortgages, better known as VA loans, are a government-based product designed to help veterans attain the American Dream of home ownership. If you’re active duty military, a veteran or a spouse of a military veteran, you may qualify for a VA loan.
A Jumbo Loan benefits those in the market for a high-priced property without the ability to pay cash as well as buyers interested in an investment property or second home.
A Reverse Mortgage is a popular home loan that was created specifically for senior homeowners, age 62 years and older, who want to convert part of their home’s equity into income.There are no limitations on how you use the money, so you can cover medical expenses, fund education for your grandchildren, and more.
You may have had your mortgage for a few years and find that with rates at historical lows it would save you several hundred dollars a month to refinance and take advantage of the current day rates. Schedule an annual mortgage review with your advisor to see your best possible options.
Want a loan with loan term flexibility and money-saving options with your mortgage? With the Your Way Mortgage at ALCOVA, you can structure your mortgage YOUR WAY!
The HomeReady™ Mortgage allows for down payments as low as 3% and, for most properties, all of the down payment funds can come from sources other than your own savings like a gift or grant.
As the name implies, a Conventional 97 loan is a mortgage that allows you to have a loan-to-value (LTV) ratio of as high as 97%.
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