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HOME LOAN TYPES

Our home loan types include Conventional loans, FHA loans, VA loans, Investor loans, Condo loans and USDA loans. With our competitive rates and flexible terms, you can trust that we will provide you with a loan that truly fits your financial goals. Let us help you achieve your dream of homeownership today. SMG is truly lending outside the box.

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Conventional Loan

Conventional loans are for people that have good to great credit, say above 640 and can put at-least 5% down (or 3% down as a first time home buyer). Conventional loans don't have PMI (Private Mortgage Insurance) with a 20% down payment & often contain the most favorable rates. 

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VA Loans

VA

VA loans are guaranteed by the United States Department of Veterans Affairs. They offer long-term financing to eligible American veterans or a surviving spouse of a veteran. No down payment is required, and up to 100% of the purchase or refinance of a home can be offered.

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Investor Loans

Investor loans are for all our real estate investors out there. We offer DSCR, Bank Statement, Asset Based, No Income, 1099 income, among others. These are all great options for non traditional income or for investors looking to expend their portfolios.

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FHA Loans

FHA

FHA mortgages are loans that are insured by the Federal Housing Administration. They are commonly used for low down payment options or less than perfect credit.  Popular among first-time homebuyers, FHA loans are designed for low-to-moderate income consumers. FHA loans typically have a more relaxed credit requirement than conforming loans. Down payment requirement is as little as 3.5%. With “Cash-out” refinance loans up to 85% of the home’s value.

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USDA

USDA Loan

​USDA loans are guaranteed by the United States Department of Agriculture. These loans (also known as Rural Development loans) are designed to help low-to-moderate income consumers purchase homes in rural areas. USDA loans often don’t require a down payment and provide up to 100% for a home purchase or refinance (rate and term only if existing home is insured by USDA, and no-cash outs).

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Condo Loans

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We offer condos loans such was warrantable & non-warrantable options. These loans are known as portfolio loans & are more common in Florida & other states that have lots of condos. 

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