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Loan Options
Mortgages Are Not
One-Size-Fits-All
There are a variety of loan options available for every situation. What’s most important
to us is finding a mortgage that’s right for you.
Loan Options
- FHA Loan
- Fixed Rate
- Adjustable Rate Mortgage
- VA Loan
- USDA Loan
- Renovation Loans
- 15 Year Mortgage
- Jumbo Loans
- Down Payment Assistance
- Cash Out Refinance
- Debt Consolidation Refinance
- Streamline Refinance
FHA Loan
The most popular loan option for first time homebuyers. Purchase your home with as little as 3.5% down with a Federal Housing Administration loan.
Only 3.5% down payment needed
Qualify with a credit score as low as 600
Fewer restrictions make it easier to qualify
Insured by the Federal Housing Administration
Conventional & Fixed Rate
Stick to your budget with a loan that’s simple and straightforward. A 30-year fixed rate mortgage is the most popular home loan option available. It is ideal for home buyers because of its straightforward structure and its predictable and steady monthly payment. With a 30 year fixed-rate mortgage, it is easy to set your budget because your total payment of principle and interest remain unchanged for the entire term of the loan.
Security and peace of mind with a monthly payment that does not change
Purchase your home with a down Payment as low as 3%
Interest remains unchanged for entire term of the loan
Ideal if you plan to stay in your home for years to come
Adjustable Rate
Take advantage of the lowest rates possible with an Adjustable Rate Mortgage. An adjustable rate mortgage, also referred to as an ARM or variable rate, is a loan option with a low introductory rate. The interest rate with this mortgage will adjust over time (typically 5 to 7 years). Depending on changes in the financial index associated with your loan, your monthly payment will either increase or decrease.
Take advantage of a low introductory mortgage rate
Enjoy low initial monthly payments
Ideal for those planning on moving within a few years
Pay off your mortgage with no penalties
For example, loan amount of $240,000, 30 year 5/1 adjustable rate loan 3.50% (3.353% APR) with LTV of 80%, monthly payment of $1,077.71. Taxes and homeowners insurance not included.
Limitations on Interest Rate Payment Changes. Your interest rate will not increase or decrease on the first change date by more than 2.00 percentage points from the initials interest rate excluding any buydown. After the initial adjustment period, your interest rate will not increase or decrease by more than 2.00 percentage points per year. Your interest rate cannot increase more than 5.000 percentage points above the initial interest rate (excluding an buydown) over the life of the loan.
VA Loans
A VA Loan lets you purchase your home with zero down and fewer restrictions. It’s designed specifically to help you purchase a home with fewer restrictions and with little to no down payment. The Veterans Affairs (or VA) loan is governed by the United States Department of Veterans’ Affairs and offers lower rates and lower payments.
100% financing available
No monthly mortgage insurance
Lower interest rates and fees
Fewer credit restrictions
USDA Loan
You just might be surprised at how many areas in the United States are designated for USDA loans. The USDA (United States Department of Agriculture) loan, also known as a Rural Development loan is ideal for new home buyers purchasing a home in one of these designated USDA rural areas because of its low rates, no money down and 100% financing to qualified buyers. With zero required down payment this loan is perfect for home buyers who are concerned with funding and meeting the qualifying income requirements of a conventional loan.
No money down required
100% financing available for qualified buyers
Take advantage of a lower interest rate
Own a home in a designated USDA area
Renovation Loans
Whether you’re buying a fixer upper or looking to add value to your current home, we’ve got the right loan option for your home improvement project.
Finance your home purchase and repairs in one loan
Low down payment options and credit score requirements
Build equity immediately after repairs are completed
Competitive interest rates compared to other loans
15 Year Mortgage
In a 15-year fixed rate mortgage, you will be able to take advantage of a lower interest rate than you would with a 30-year fixed rate mortgage and you’ll own your home quicker too! It is a great way to save! A lower interest rate and a shorter term means that you will save thousands in interest over the life of your loan.
Take advantage of a lower interest rate
Save thousands on interest over the life of your loan
Gain 3x the paid equity compared to a 30-year mortgage
Pay off your mortgage faster
100% Financing
Purchase your dream home with no money down. Homespire Mortgage is proud to offer our new 100% financing program to help you open the doors to homeownership. Our new 100% Financing Program is an affordable housing option created to help home buyers purchase a home with little to no investment. Eligible home buyers can receive down payment assistance.
Down payment assistance up to 3.5% amortized second mortgage
Minimum credit requirement of 640
30 Year fixed FHA mortgage
No first-time home buyer requirement
Cash Out Refinance
Take advantage of your home’s equity and get cash at closing to use where you need it most with a cash-out refinance. This is money that’s sitting in your home! This may be the perfect opportunity to knock out some home improvements, pay college tuition, or pay off high interest credit card debt.
Mortgage debt can be repaid over a longer period of time (up to 30 years) compared to other debts like medical expenses, credit cards, and student loans.
With home values on the rise, tapping into your existing equity could mean more cash in hand than you expected when you first bought your home.
Mortgage interest is tax-deductible, by consolidating other debts into your mortgage you may be able to deduct the interest paid on it.
Debt Consolidation Refinance
A debt-consolidation refinance allows you to move all your debt to one place: your mortgage. Get rid of deferring due dates and put all your debt in one low monthly payment.
Take advantage of low mortgage rates and pay off your higher-interest debt with a ‘cash out’ refinance.
Move all your debt to one place: your mortgage. Get rid of deferring due dates and put all your debt in one low monthly payment.
Get rid of high-interest on credit card debt. You’ll end up paying much less each month and in many cases, the interest is usually tax deductible.
Streamline Refinance
It’s easy and straightforward to lower your monthly payment. Take advantage of today’s low mortgage rates and put more money back in your pockets! Just a small reduction on your mortgage rate can significantly lower your monthly mortgage payment.
Refinancing to a lower rate means that you will enjoy a lower monthly payment
Just a small reduction on your mortgage rate can significantly lower your monthly mortgage payment
Refinancing changes the terms of your mortgage which can also save you money in the long-run
Heroes Next Door
Our way of saying ‘Thank You’ by providing exclusive savings to our local law enforcement, first responders, military, educators, and medical professionals.
Discounted Fees and Closing Costs
Competitive Mortgage Rates
Priority Processesing
No Extra Paperwork
FHA Loan
FHA Loan
The most popular loan option for first time homebuyers. Purchase your home with as little as 3.5% down with a Federal Housing Administration loan.
- Only 3.5% down payment needed
- Qualify with a credit score as low as 550
- Take advantage of lower mortgage insurance premiums
- Security of a government backed loan
Fixed Rate
Conventional & Fixed Rate
Stick to your budget with a loan that’s simple and straightforward. A 30-year fixed rate mortgage is the most popular home loan option available. It is ideal for home buyers because of its straightforward structure and its predictable and steady monthly payment. With a 30 year fixed-rate mortgage, it is easy to set your budget because your total payment of principle and interest remain unchanged for the entire term of the loan.
-
-
Security and peace of mind with a monthly payment that does not change
-
-
Purchase your home with a down Payment as low as 3%
-
-
Interest remains unchanged for entire term of the loan
-
-
Ideal if you plan to stay in your home for years to come
Adjustable Rate Mortgage
Adjustable Rate
Take advantage of the lowest rates possible with an Adjustable Rate Mortgage. An adjustable rate mortgage, also referred to as an ARM or variable rate, is a loan option with a low introductory rate. The interest rate with this mortgage will adjust over time (typically 5 to 7 years). Depending on changes in the financial index associated with your loan, your monthly payment will either increase or decrease.
- Take advantage of a low introductory mortgage rate
- Enjoy low initial monthly payments
- Ideal for those planning on moving within a few years
- Pay off your mortgage with no penalties
For example, loan amount of $240000.00, 30 year 5/1 adjustable rate loan 3.50% (3.353% APR) with LTV of 80%, monthly payment of $1077.71. Taxes and homeowners insurance not included.
Limitations on Interest Rate Payment Changes. Your interest rate will not increase or decrease on the first change date by more than 2.00 percentage points from the initials interest rate excluding any buydown. After the initial adjustment period, your interest rate will not increase or decrease by more than 2.00 percentage points per year. Your interest rate cannot increase more than 5.000 percentage points above the initial interest rate (excluding an buydown) over the life of the loan.
VA Loan
VA Loans
A VA Loan lets you purchase your home with zero down and fewer restrictions. It’s designed specifically to help you purchase a home with fewer restrictions and with little to no down payment. The Veterans Affairs (or VA) loan is governed by the United States Department of Veterans’ Affairs and offers lower rates and lower payments.
-
-
100% financing available
-
-
No monthly mortgage insurance
-
-
Lower interest rates and fees
-
-
Guaranteed by the VA
USDA Loan
USDA Loan
You just might be surprised at how many areas in the United States are designated for USDA loans. The USDA (United States Department of Agriculture) loan, also known as a Rural Development loan is ideal for new home buyers purchasing a home in one of these designated USDA rural areas because of its low rates, no money down and 100% financing to qualified buyers. With zero required down payment this loan is perfect for home buyers who are concerned with funding and meeting the qualifying income requirements of a conventional loan.
-
-
No money down required
-
-
100% financing available for qualified buyers
-
-
Take advantage of a lower interest rate
-
-
Own a home in a designated USDA area
Renovation Loans
Renovation Loans
Whether you’re buying a fixer upper or looking to add value to your current home,
we’ve got the right loan option for your home improvement project.
-
-
Finance your home purchase and repairs in one loan
-
-
Low down payment options and credit score requirements
-
-
Build equity immediately after repairs are completed
-
-
Competitive interest rates compared to other loans
15 Year Mortgage
FHA LOAN
The most popular loan option for first time homebuyers. Purchase your home with as little as 3.5% down with a Federal Housing Administration loan.
-
-
Only 3.5% down payment needed
-
-
Qualify with a credit score as low as 550
-
-
Take advantage of lower mortgage insurance premiums
-
-
Security of a government backed loan
Jumbo Loans
FHA LOAN
The most popular loan option for first time homebuyers. Purchase your home with as little as 3.5% down with a Federal Housing Administration loan.
-
-
Only 3.5% down payment needed
-
-
Qualify with a credit score as low as 550
-
-
Take advantage of lower mortgage insurance premiums
-
-
Security of a government backed loan
Down Payment Assistance
FHA LOAN
The most popular loan option for first time homebuyers. Purchase your home with as little as 3.5% down with a Federal Housing Administration loan.
-
-
Only 3.5% down payment needed
-
-
Qualify with a credit score as low as 550
-
-
Take advantage of lower mortgage insurance premiums
-
-
Security of a government backed loan
Cash Out Refinance
Cash Out Refinance
Take advantage of your home’s equity and get cash at closing to use where you need it most with a cash-out refinance. This is money that’s sitting in your home! This may be the perfect opportunity to knock out some home improvements, pay college tuition, or pay off high interest credit card debt.
- Mortgage debt can be repaid over a longer period of time (up to 30 years) compared to other debts like medical expenses, credit cards, and student loans.
- With home values on the rise, tapping into your existing equity could mean more cash in hand than you expected when you first bought your home.
- Mortgage interest is tax-deductible, by consolidating other debts into your mortgage you may be able to deduct the interest paid on it.
Debt Consolidation Refinance
Debt Consolidation Refinance
A debt-consolidation refinance allows you to move all your debt to one place: your mortgage. Get rid of deferring due dates and put all your debt in one low monthly payment.
- Take advantage of low mortgage rates and pay off your higher-interest debt with a ‘cash out’ refinance.
- Move all your debt to one place: your mortgage. Get rid of deferring due dates and put all your debt in one low monthly payment.
- Get rid of high-interest on credit card debt. You’ll end up paying much less each month and in many cases, the interest is usually tax deductible.
Cash Out Refinance
Streamline Refinance
It’s easy and straightforward to lower your monthly payment. Take advantage of today’s low mortgage rates and put more money back in your pockets! Just a small reduction on your mortgage rate can significantly lower your monthly mortgage payment.
- Refinancing to a lower rate means that you will enjoy a lower monthly payment
- Just a small reduction on your mortgage rate can significantly lower your monthly mortgage payment
- Refinancing changes the terms of your mortgage which can also save you money in the long-run
Why Clients Love Us
We’ve helped thousands of homeowners find a mortgage they can manage.
See what our clients have to say on Social Survey.
Stop throwing away money on rent.
You may be able to own a home for as much as you
pay in rent. Let us do the math.