Type of Loans
Conventional Loans
Conventional loans that follow the terms and conditions established by the guidelines of Fannie Mae and Freddie Mac.
Fixed-Rate Mortgage
The interest rate and the principal payments remain fixed throughout the loan. Keep in mind your monthly escrow account payment could vary from year-to-year as taxes and insurance rates change.
Veteran Affairs (VA) Loans
VA helps Service members, Veterans, and eligible surviving spouses become homeowners. As part of our mission to serve you, we provide a home loan guaranty benefit and other housing-related programs to help you buy, build, repair, retain, or adapt a home for your own personal occupancy.
VA Home Loans are provided by Trust Lending. VA guarantees a portion of the loan, enabling us to provide you with more favorable terms.
FHA Loans
What is an FHA Loan?
An FHA loan is a mortgage loan that is insured by the Federal Housing Administration (FHA). Essentially, the federal government insures loans for FHA-approved lenders in order to reduce their risk of loss if a borrower defaults on their mortgage payments.
The FHA program was created in response to the rash of foreclosures and defaults that happened in 1930s; to provide mortgage lenders with adequate insurance; and to help stimulate the housing market by making loans accessible and affordable. Nowadays, FHA loans are very popular, especially with first-time home buyers.
Reverse Mortgage
A reverse mortgage is a low-interest loan for senior homeowners that uses a home’s equity as collateral. The loan amount is a percentage of the home’s value determined by the age of the youngest homeowner. The loan does not have to be repaid until the last surviving homeowner permanently moves out of the property or passes away.
At that time, the estate has approximately 12 months to repay the balance of the reverse mortgage or sell the home to pay off the balance. All remaining equity is inherited by the estate. The estate is not liable if the home sells for less than the balance of the reverse mortgage.
FHA Streamline Refinance
If you have a mortgage that’s insured by the Federal Housing Administration (FHA) and you want to refinance to take advantage of low interest rates, you may be in luck. The FHA has a special program that can help you refinance your FHA loan through a streamline process that’s easier than the typical refinancing.
Here’s a summary of what an FHA streamline refinance is, what the advantages of an FHA streamline refinance are, how an FHA streamline refinance works and what the requirements are.
Jumbo Loans
What makes a loan jumbo?
A loan is considered a jumbo if it exceeds what is known as the conforming loan limit. The current conforming loan limit for a single-family home is $417,000 for all states except for Hawaii and Alaska, where it is $625,500.
However, if you live in a federally designated high-priced market, there are conforming high balance limits available for certain loan programs. These loans have higher interest rates and stricter underwriting requirements than standardconforming loans, but are generally priced lower than jumbo loans. Additionally, limits may be different for multi-unit properties.
Foreign National Loans
The American Dream has long been defined as the concept of owning a home. That’s true not only for American citizens, but also for residents who live in the country and have not acquired official citizenship. For these residents, the hurdles of buying a home can be even greater, on top of the ongoing challenges inherent to the process, such as saving for a down payment and finding favorable interest rates.
However, there are programs and products that can help. The Foreign National Program at Trust Lending Financial offers those residents the opportunity to buy a home in the United States at terms that are not restrictive or unattractive. With some of the industry’s most flexible conditions, the foreign national loans at Trust Lending are the key to helping non-citizen residents put down roots in the United States.
Hard Money Loans
Hard Money Lenders are private companies or individuals who lend out capital to fund real estate deals. The loans, called “Hard Money Loans” or “Private Money Loans” can be a significant source of financing for real estate investors needing short-term access to funds.
Hard money lenders have a variety of different rates, fees, and terms that you will need to become fully acquainted with. Rates and fees are typically much higher than conventional mortgages, usually ranging between 8 and 15% depending on the loan amount and term length. When taking out a hard money loan, you will usually pay a fee ranging between 3 and 10% of the loan amount; this fee is also known as paying “points.”