Montel Mortgages Simplifies the Process
How I Can Help You
Get the Mortgage You Deserve
Mortgage Pre-Approval
My services are specifically tailored to each of my clients. You can count on me to research and present the best options possible, no matter your financial situation or real estate background. Contact me today to schedule a consultation appointment and see what I can do for you.
Loan Comparison
Whether you’re buying your first home or looking for a new investment property, the financing process can be laden with stress and complications. That’s where I come in. You’ll be surprised at how easy your life becomes once we work together. I will inform you of what to expect from beginning to end and continue to be a guide and resource for you throughout the process.
Refinancing
Montel Mortgages LLC can manage all of your mortgage needs. In addition to securing initial financing for home and property purchases, I am also here to assist you with refinancing of your current mortgage. Reach out to me today to learn more.
LOAN OPTIONS
There are many options for clients when it comes to financing a real estate investment. Montel Mortgages LLC, provides the best selection of mortgage loan products, including Reverse Mortgages, Conventional Mortgages, Government Loans, Construction Loans, Renovation Loans, Jumbo Loans, and Commercial Loans. The choices are vast and the differences can be difficult to understand, but I’m here to help with any questions you may have.
Conventional Loans
Conventional loans are mortgage loans offered by non-government sponsored entities. A conventional conforming, mortgage adheres to the guidelines set by Fannie Mae and Freddie Mac. The loan may have a fixed or adjustable rate.
However, there are Conventional Loans offered outside of Fannie Mae and Freddie Mac guidelines. These types of loans offer creative approaches to income qualifying and are especially popular with self-employed buyers.
For many years Conventional Loans required a minimum 20% down payment. In today’s market conventional loans are very popular with down payments as low as 5%, and even 3%.
Conventional Loans offer the ability to finance Second Homes and Investment Properties in addition to Primary Residences.
VA Loans
VA Loans are offered by the Department of Veterans Affairs (VA) and designed to offer long-term financing to Veterans of the United States Armed Services, and as well current active duty Service Men and Women. VA mortgage loans are issued by federally qualified lenders and are insured by the U.S. Department of Veterans Affairs.
The VA determines and issues a Certificate of Eligibility to qualified applicants to submit to their mortgage lender of choice.
At Norris Financials we can assist by ordering and attaining the VA Certificate of Eligibility for qualified Veterans and active duty service members.
Added benefits of the VA Loan Program are:
Loans are made with ZERO DOWN PAYMENT
Loans may be for Purchase, Refinance, or Rehab of a Primary Residence
Veterans may receive up to 4% closing costs from a seller in a purchase transaction
There is No Mortgage Insurance charged monthly or otherwise
Current Maximum VA Loan Limits are $484,350.00 with zero cash down (higher loan amounts are offered however, with additional cash down payment requirements)
Manufactured Homes are Eligible
To all Veterans and current active duty Service Men and Women I Express my Sincere Gratitude and Appreciation for your Service to our Great Nation, and will never forget your commitment and sacrifice. I am ready and able to offer Service to You when you seek financing with the VA benefits you have so Honorably Earned.
FHA Loans
FHA loans are an attractive option, especially for first-time homeowners because they are insured by the Federal Housing Administration (FHA). FHA Loans are available for the Purchase or Refinance of a Primary Residence Home.
FHA Loans are Insured by the U.S. Government Department of Housing and Urban Development (HUD). These Loans are granted with possibly the most Liberal Loan Guidelines and Requirements of any Loan Programs offered in the Mortgage Banking Industry.
FHA Loans require a Down Payment of 3.5% of the purchase price.
Additional Benefits of FHA Financing are as follows:
Lower Credit Scores (580) and in some cases no credit scores are acceptable
Alternative Credit (Rent, Insurance, Utilities, etc.) can be considered for those with little or no credit reported to the Major Credit Bureaus
Seller can contribute up to 6% to Closing Costs
Gift Funds are Acceptable for Down Payment and Closing Costs
First Time Home Buyers are Welcome and in most cases are best suited for FHA Financing
Manufactured Homes are Eligible
There is no Better Time to look into Home Ownership than Right Now. I look forward to showing Buyers how Easy and Convenient it is to Own Your Own Home NOW.
USDA Loans
USDA Loans are offered by the U.S. Department of Agriculture Rural Development Guaranteed Housing Loan Program.
This Loan Program is Guaranteed by the USDA and offered in Eligible Rural Development Areas as well as certain Suburban Areas for Purchase and Refinance of a Primary Residence Home with No Money Down.
This Home Loan Program is designed for persons of Moderate Income, therefore certain Income Restrictions do apply.
For information regarding Location Eligibility and Income Limits for the USDA Loan Program, please Click Here and enter property address information as prompted.
Additional Benefits of this Loan Program are:
Discounted Interest Rates
Discounted Mortgage Insurance
Manufactured Homes are Eligible
Seller can Contribute up to 6% of purchase price to Closing Costs
I look forward to Navigating Borrowers through the Eligibility Requirements to make certain they qualify fully for the USDA Loan Program as it relates to the purchase or refinance of their Piece of the American Dream.
Construction Loans
We offer several programs for construction loans.
Government Insured One Time Close
Our Government Insured One Time Close Program allows for a person to build a home on land they may already own or include the purchase of land in one total price point with as little as ZERO DOWN.
The Zero Down Payment option is available for eligible Veterans of the United States Armed Forces (VA) or persons building in a Rural Development Zone (USDA).
For those borrowers who are not Veterans or in a Rural Development Zone, this construction loan program is offered with a minimum cash (or equity) down payment of THREE AND ONE HALF PERCENT (3.5%).
Conventional One Time Close
Our Conventional One Time Close Construction Program allows for a person to build a home on land they may already own or include the purchase of land in one total price point with as little as TEN PERCENT (10%) CASH OR EQUITY DOWN.
For those who have always dreamed of building a home in their family’s image, I am available to help you see your Dream through to Fruition.
Renovation Loans
Renovation (or Rehab) Loans are offered as U.S. Government Insured Loans or Conventional Loans.
FHA 203-K and Department of Veterans Affairs (VA)
Both Loans are U.S. Government Insured Loan Programs.
These Loan Programs are offered for Purchase or Refinance of a Primary Residence. Home improvements may be as minor as cosmetic upgrades (paint, flooring, etc.) including appliance acquisition or major home transformations including adding rooms and extra space.
Conventional Renovation Loans
This Loan Program is offered for Purchase or Refinance. However, the Conventional Renovation Loan is offered for Primary Residences, Second Homes, and Investment Properties.
This Conventional Loan offers the Development of Luxury Items such as Swimming Pools and Spas.
I welcome the opportunity to arrange a personal consultation to discuss your needs of Renovation or Rehab of your current home or that property your vision implores you to purchase and transform.
Jumbo Loans
Jumbo Loans exceed the maximum loan amounts established by Fannie Mae and Freddie Mac Conforming Conventional Loan Limits. Currently, Jumbo Loans start on loan amounts above $484,350.00
Jumbo Loans are typically used to buy more expensive homes and high-end custom construction homes.
Most Lenders limit their Jumbo Loan Limits to $2,000.000.00 However, I welcome you to discuss your Loan Needs in excess of $5,000,000.00.
