Loan Programs

The following is a partial list of programs offered by Welcome Home Finance, LP with a brief description of the key elements.

• CONVENTIONAL: Programs available for the borrower who needs up to 97% financing. Available in loans for 5 thru 30 year payment programs, Fixed or Adjustable rate interest rates.
  
  
• GOVERNMENT PROGRAMS (FHA/VA): Numerous loans are available under these programs. 100% financing or minimal down payment is available. Loan amount limits do apply.
  
  
• RATE OR TERM RE-FINANCING: For the customer wanting to obtain a lower interest rate or different length of loan. Loans are based on a maximum of 95% of appraised value.
  
  
• CONSTRUCTION/PERM: Offers a one time closing for those who are building their new home. Your interest rate is locked in before construction begins. During construction you will be paying interest only payments on the funds that have been dispursed to your builder. At the end of your construction period, normally 6 - 12 months, your loan converts to a permanent mortgage.
  
  
• INTEREST ONLY LOANS : For the homebuyer who wants more flexibility in their payment. A borrower has the option to pay the minimum interest only payment or any amount greater. The additional payment is applied toward the balance on the loan.
  
  
• SECOND HOME: A program for the homebuyer wishing to purchase a vacation home. This purchase can be financed up to 80% depending on the loan amount.
  
  
• INVESTOR/RENTAL PROPERTY: Buyers who are looking to generate rental income by purchasing these types of properties. Multiple property ownership is allowed under certain programs. Financing up to 80% is available.
  
  
• BALLOON/ARM'S: These programs are intended for the homebuyer who feels they will only occupy the property for a certain period of time.
  
  
• HOME EQUITY LOANS AND LINES OF CREDIT: These programs are designed to allow a homeowner to draw from the equity in their home. These loans can be used for almost any purpose: finance higher education, pay off higher interest credit cards, or even a dream vacation.