The right mortgage
designed for you

A conventional loan, also referred to as a conforming loan or qualified mortgage, is one that meets the guidelines set forth by Fannie Mae and Freddie Mac and can be used for a home purchase and refinance. A conventional loan is an ideal option for someone with excellent credit history and stable full-time employment.

Conventional loan highlights 

• Down payment as low as 3%
• Premium mortgage insurance not required with 20% down payment
• Credit score must be 620 or above
• Available for single family homes, townhomes, apartments, and multifamily (1-4 units)
• Can be used to finance primary home, vacation home, or investment property

An FHA loan is another type of qualified mortgage that is insured by the Federal Housing Administration (FHA), which makes it a government-backed loan. An FHA loan is a great option for first-time home buyers with average credit that want to take advantage of more relaxed credit and income requirements.

FHA loan highlights 

• Down payment as low as 3.5% for credit scores above 580
• Allows for higher debt-to-income ratios
• A good option for borrowers with prior credit delinquencies (e.g. bankruptcy)
• Premium mortgage insurance is required
• Cannot be used to finance vacation home or investment property

VA loans are guaranteed by the United States Department of Veterans Affairs (VA) and are designed to help active-duty military, veterans, and eligible surviving spouses purchase, refinance or make improvements on a home. A VA loan is a great option for those who qualify to get access to favorable rates and no down payment requirement.

VA Loan Highlights

• Must provide certificate of eligibility from VA
• No down payment requirement
• No PMI (premium mortgage insurance)
• Credit score must be 620 or above
• Can only be used to finance primary residence
• For condos, building must be VA approved

A non-qualified mortgage (Non-QM) is a loan designed to help borrowers who do not meet the requirements to qualify for a conventional or FHA loan. Instead of following the requirements of Fannie Mae and Freddie Mac, lenders will set their own requirements, which allows for more flexible underwriting. A Non-QM loan is great for borrowers who are self-employed, foreign national, high net worth individuals, or for borrowers seeking loan amount above conforming loan limits.

Non-QM Loan Highlights

• Easier to qualify for than conventional or FHA
• Good option for borrowers that need a loan amount higher than $726,200 (known as jumbo loans)
• Can be used to finance primary home, vacation home, or investment property
• Credit score must be 620 or above (some cases allow for credit score of 580)
• For investment properties: can qualify using cash flow of property instead of personal income

A foreign national loan is designed for foreign citizens that are interested in purchasing a second home or investment property in the United States. Non-U.S. citizen loan applicants can use their income earned from their country of residence to qualify for a mortgage loan in the U.S. and in most cases it is not required for them to have established credit history in U.S.

Foreign national loan highlights 

• Self-employed foreign nationals must provide certified income letter from CPA or accountant
• Valid visa status is required
• Minimum down payment is 25%
• Short-term financing available for foreign nationals - no credit or income verification (for investment properties only)

A bank statement loan allows borrowers to qualify for a mortgage without needing to provide tax returns, W-2s or paystubs. A bank statement loan is a favorable option for self-employed borrowers that have trouble verifying all of their income or have sizable tax deductions. In these cases, reviewing bank statements to verify a consistent pattern of deposits will give better picture of the borrower’s income and help them qualify for a mortgage.

Bank Statement Loan Highlights

• Good for small business owners, real estate investors, freelancers, doctors, lawyers, etc.
• Must provide 12-24 months’ worth of bank statements
• Credit score must be 620 or above
• Down payment as low as 10%
• Can be used to finance primary home, vacation home, or investment property

A bridge loan is a short-term loan that can be used to purchase and refinance investment properties. Bridge loans are asset-based loans, meaning that the lender will focus on the quality of the asset. A bridge loan is a great option for real estate investors who require a fast closing due to contractual obligations, pending sale of an existing asset, or requires more time to get approved for permanent financing.

Bridge Loan Highlights

• No income verification or credit history required
• Max LTV 65%
• Fixed and variable rates available
• 1-3 year terms
• Good option for foreign nationals
• Investment properties only
• Can be used to finance residential, commercial, and land

A portfolio loan is a loan that a lender will keep on their balance sheet instead of selling it on the secondary market. This allows for the lender to set their own lending requirements and cater to more complex financing situations or certain property types. Typically portfolio loans are used by real estate investors that want to work with a local lender that understands their market and will focus more on the quality of the asset than the borrower’s credit and income history.

Portfolio Loan Highlights 

• Good option for real estate investors
• Max LTV 65%
• No credit history required
• Can be used to finance residential, commercial, and land
• Available for condotel and non-warrantable condo investors
• Not available for primary residence or vacation homes

A jumbo loan is a loan that exceeds the loan limit set by Fannie Mae and Freddie Mac, also known as the conforming loan limit. As of 2023, the conforming loan limit is $726,200 in the state of Florida. This means that any mortgage loan that exceeds $726,200 is considered a jumbo loan. Jumbo loans are a great option for borrowers who are in the market for a luxury home or are looking for homes in an expensive area.  

Jumbo Loan Highlights

• Down payment as low as 20%
• Available for foreign nationals
• Credit score must be 680 or above
• Can be used to finance primary home, vacation home, or investment property
• No income verification or credit score requirement option available for investment properties

A No-Income DSCR loan is a loan designed for rental investors to qualify for a mortgage using the property’s cash flow. A No-Income DSCR loan uses the debt service coverage ratio (DSCR) to determine how much of a property’s income can be used to cover monthly mortgage expenses, including mortgage principal, interest, taxes, insurance, and HOA fees (PITIH). A No-Income DSCR loan is a great option for rental property owners that are self employed or foreign nationals and have trouble verifying all their personal income.

No-Income Verification DSCR Loan Highlights

• Credit score must be 640 or above
• Minimum down payment is 20%
• Interest-only option available
• Gift funds allowed
• Can be used to finance single family home, condo, condotel, non-warrantable condo, and multifamily (2-4 units)

A vacant land loan can be used to purchase or refinance residential or commercial vacant land. Vacant land loans are short-term loans that offer interest-only monthly payments, and do not require income verification or established credit history. Vacant land loans are often used by developers and custom home builders that require fast financing to acquire or improve the land while they wait for construction loan approval.

Vacant Land Loan Highlights

• 1-3 year terms
• Max LTV 60%
• 18-month term
• Fixed and variable rates available
• No income verification
• No credit history required
• Cannot be used to buy land for primary home or vacation home
• Available for foreign nationals

A commercial loan can be used to purchase, refinance or make improvements on a commercial asset such as an office space, retail location, multifamily (5+ units), or mixed-use space. Both fixed and variable rates are available and the underwriting process will focus on the quality and income producing ability of the asset. A commercial loan is a good option for business owners, commercial real estate investors and developers.

Commercial Loan Highlights

• Max LTV 65%
• 1-3 year terms 
• No max loan amount
• Fixed and variable rates available
• No personal income verification
• No minimum credit score
• Available for foreign nationals