Mortgage FAQs

The Federal Housing Administration (FHA) Purchase Loan Program with its flexible guidelines, low down payment option, and lower credit requirements can offer new home buyers a way to own your first home.

For investor buyers or owners who want to buy or refinance 5-10 properties, we have traditional lenders, who are willing to fund your loan. For properties that don’t qualify for traditional loans, we can provide you with a Private Money (PM) Loan solution.

The FHA 203k loan for primary residences allows the borrower a low down payment option, plus additional funds for improvements. You can finance up to $35,000 towards cosmetic repairs. This loan is great for distressed, REO and aged properties that need a little work.

A Conventional Loan may meet your needs. This usually requires a 1%-5% down payment, decent credit, 1-2 years job history, and sufficient income to make the payments. Our Fannie Mae and Freddie Mac loans are for people who want to buy their first home, buyers who want to move up or down in size, buy a second home, a condo or a manufactured home on land and for buyers who want to purchase a 1-4 unit rental.

Maybe a Jumbo Loan would work well for you. The Jumbo loan base starting point runs up from $424,100 to $815,650 depending whether it is for a single home or 2-4 units, somewhat dependant of the property location. You can take advantage of the lower down payment and reduced reserve requirements to help you finance more. We can finance owner occupied jumbos and rental jumbo’s.

A Private Money Loan (PM) may be your best loan option. These loan are made by individual lenders who loan out their money at 8-12% interest rate, on a 30 year loan due in 3-10 years. A larger down payment or significant equity may be required, along with the ability to make the payments. An appraisal is required for owner occupied home loans, but not for rental properties, as long as the lender recognizes the value of your property. So, a buyer who wants to purchase a foreclosure property (REO) needing repairs can find the necessary financing. If you require a loan that can’t be done through conventional bank loans, PM financing may be just the right solution.

A Reverse Mortgage allows you to access your equity, without having to sell your home or make any monthly payments. This allows you to tap into your equity to enhance your monthly income for as long as you live in your home. You can also use a reverse mortgage loan to purchase your retirement home, with a significant down payment. Reverse mortgage loans are based on your equity and not based on your credit or income. The older you are, the higher the cash out or monthly income that you can receive. Ask us how you can increase your income and lower you debts with a Reverse mortgage.

We can offer borrowers a Conventional “cash out” refinance loan for a variety of reasons including: home improvements, debt consolidation, student loan pay off, enhancing your savings and many others. While the mortgage interest rates are at record low levels, we can often significantly reduce your interest rate and lower your payments in the process. You can also obtain “cash-out” with a Private Money Loan.

Manufactured Home Loan Financing is limited to a few lenders represented by Capitol Mortgage Company. If your manufactured home was built in 1976 or later, and it is on land that you own or will own, it can be purchased or refinanced with a VA, FHA or Conventional loan. Sometimes, a Private Money Loan is required for these properties, if the borrower or property do not qualify for other loans.

Veterans Affairs (VA) offers special home buyer benefits to Active Duty and Retired Military members. A VA loan provides buyers with 100% financing and flexible qualifying standards. If you need to refinance a VA loan, we offer VA streamline loans to help you lower your interest rate and payments, without a new appraisal. In addition, the Oregon Department of Veteran Affairs (ODVA) offer our National Guard members and former vets more loan options.

For real estate investor buyers, financing a rental property is a little easier with our expanded guidelines. We have conventional financing available for a loan up to 80% LTV (20% down) of the property value for both purchases and refinances. We also provide a Private Money Loan option, if you or your property doesn’t qualify for a conventional loan. A rental property can help you earn a steady income stream.

Adjustable Rate Mortgages (ARMs) offer you a start rate that adjusts on a specified time schedule, after an initial “fixed” rate period. This is a great loan for investors and anyone who want a lower payment for a short period of time. An ARM loan can allow you to buy, improve and sell a property for a profit.

The United States Department of Agriculture (USDA) Rural Home loan may be right for you. This loan allows buyers with modest incomes to buy a home with 100% financing (zero down), if the home is located in designated in a rural areas. Qualified areas include most Oregon small towns with less than 25,000 in population. These areas may be closer to a larger city than you would expect.

A Fixed Rate Conventional Mortgage gives you the security of knowing that your interest rate and payment will not change for the 15-30 year term of your loan. You can use a fixed rate loan to purchase or refinance your home, 2nd home or rental. You can purchase your primary home with as little as 1%-5% down with a fixed rate loan. This is great for anyone who plans to be in their home for a longer period of time.