Mortgage Lending Company – Loan Options

Loan Options from Integrity Financial ServicesIntegrity Financial Services works with over fifty investors and bank partners to find the product or program to meet your individual financial needs. We have helped customers find loans for just about every situation:

Conventional Loan

Conventional loans are loans that are currently sold in the market or meet Fannie Mae’s and/or Freddie Mac’s funding criteria. Conventional loans are the standard loans you hear about when buying a home. They usually require a down payment and come with fixed or adjustable interest rates. There is usually a variety of programs out there, making conventional loans very competitive. Conventional loans can be either a fixed rate mortgage or adjustable rate mortgage.  Conventional mortgages generally require higher down payments than FHA & VA mortgages. For more information about conventional loans, click here.

Some of the key benefits are:

  • Competitive Rates:  Conventional mortgages have a wide variety of fix rate mortgage programs and adjustable rate mortgage programs giving the home owner many choices to match the programs that best meets their needs.  Based on credit score, conventional mortgages generally carry some of the lowest mortgage rates in the market.
  • Down Payment:  Although conventional mortgages generally require more money down, mortgages can be found with as little as 5% down payment.  Mortgage insurance companies generally insure conventional mortgages with less than 20% down payment.  Underwriting requirements are usually tightened however, could be an excellent alternative than putting down a large down payment.

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Federal Housing Administration or FHA Loans

FHA Loans are loans that are federally insured.  The Federal Housing Administration has been insuring these mortgages since 1934.  Federal Housing Administration Loans are mortgages which are federally insured. They usually have a lower down-payment requirement and less stringent qualifications than conventional loans, which is what makes them ideal loans for the first time home buyer. Because FHA loans are federally insured, lenders are more willing to offer competitive rates. For more information about FHA loans, click here.

Some of the key benefits are:

  • Low Down Payment:  Generally, FHA requires as little as 3.5% down payment which is much less than conventional financing.
  • Easier Qualification Standards:  Borrowers with less than perfect credit, higher debt to income ratios, and little to no money down are likely candidates for FHA loans.
  • Competitive Rates:  FHA loans generally have competitively priced interest rates.  Because these loans are Federally Insured, lenders offer competitive rates.

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Veteran’s Administration or VA Loans

Veteran’s Administration Loans are available only for military personnel and their surviving spouses, when applicable. They generally do not require a down payment and are guaranteed by the government. A mortgage lending company will typically offer competitive rates and lower closing costs for VA loans. For more information about VA loans, click here.

Some of the key benefits are:

  • Down Payment:  Generally, VA requires zero down payment when purchasing a home and in some cases up to 95% loan to value for refinance mortgages.
  • Easier Qualification Standards:  Servicemen & women enjoy the benefits of expanded credit criteria.  Less than perfect credit scores, higher debt to income ratios generally are acceptable under this mortgage program.
  • Competitive Rates & Lower Costs:  VA loans generally have competitively priced interest rate.  Because these loans are guaranteed, lenders offer competitive rates.  In addition, these mortgages generally carry less closing costs.

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Jumbo Loans

Jumbo Loans are for those in the United States who seek to borrow over $417,000 (or higher in areas considered a “high cost area”). Lenders require a higher down payment and offer a higher interest rate than for conventional loans. You can find the county limits here. For more information about jumbo loans, click here.

These loans are generally higher rates than conventional loans and require more money down. Jumbo mortgages can be either fixed rate or adjustable rate mortgages.

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USDA Rural Housing Programs

USDA Rural Housing mortgages require no down payment for homes purchased in rural areas and are guaranteed by the United States Government. These loans are usually extended to low- or moderate-income families to assist them with purchasing a home. Because these loans are guaranteed, a mortgage lending company is willing to offer competitive rates and allow assistance with closing costs from other interested parties. Find out if your property is eligible here. For more information about USDA Rural Housing loans, contact Integrity Financial Services.

Some of the key benefits are:

  • No Down Payment:  USDA Mortgages requires zero down payment or 100% financing when purchasing a home.
  • Mortgage Insurance:  USDA mortgages do not require monthly private mortgage insurance.  This can assist borrowers keep their payments low compared to FHA or conventional loans which may carry monthly mortgage insurance costs.
  • Competitive Rates & Closing Costs: USDA loans generally have competitively priced interest rates.  Because these loans are guaranteed, lenders offer competitive rates.  In addition, these mortgages allow sellers and other interested parties to assist with the buyer’s closing costs.

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Second Mortgage

Second mortgages are ideal for borrowers who need a faster loan approval process and have sufficient equity in their home. There are a variety of second mortgage loan options available to homeowners. For more information about second mortgage loans, contact Integrity Financial Services.

Some of the key benefits are:

  • Lower Costs:  Generally second mortgages are lower in costs than traditional first mortgages.  In many cases, lenders may pay for or roll in the costs of the mortgage.
  • Speed: Second mortgages are usually faster to close the loan.  Many lenders require limited or reduced documentation to close these mortgages.  Because of this, processing is generally faster giving the client there equity they need quickly.

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Whether you are seeking a commercial or residential loan, Integrity Financial Services can work with you. For more information, contact Integrity Financial Services at (727) 531-0000 or

Mortgage Home Loan | Refinance Home Loans | Commercial Loans | FHA Loans | HARP II | FHA Streamline | Jumbo Loans | VA Loans

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NMLS# 327908


 

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Integrity Financial Services of Tampa Bay Inc. DBA Integrity Financial Services (“Company”) is a Florida Licensed Mortgage Lender NMLS #327908. Integrity Financial Services is not affiliated with any government agency.