Loan Options

There’s no place like home, and at Highland HomeLoans, we offer loan solutions to help you reach your homeownership goals.

Whether you’re planning on buying, refinancing, upgrading or repairing your home, we have you covered.

Conventional Home Loans

Benefits: Easier to qualify for, less paperwork involved, more flexible terms, lower rates.

Conventional loan types include:

  • Adjustable-Rate Mortgages (ARMs). Loans featuring lower introductory rates for the first few years of the loan, but later adjust according to market rates. Great option for short-term homeowners or those who expect to increase their income over time.
  • Fixed-Rate Loans. Loans with fixed interest rates allowing homeowners to make predictable monthly payments over the life of the loan (Available in 15-year and 30-year options).
  • FHA Home Loans. Government-insured loans that offer affordable interest rates and require a lower minimum credit score.

Perfect for: Borrowers with a stable job and income, and can also afford a significant down payment.

Government Loans

Benefits: Low or zero down payment costs, flexible income and credit requirements, low closing costs.

Government loan types include:

  • FHA Loans. A Federal Housing Administration loan helps homebuyers with limited income. Great for first-time homebuyers.
  • USDA Loans. Created for rural property buyers with limited financing options.
  • VA Loans. Backed by the U.S. Department of Veterans Affairs, VA loans are specifically for homebuyers who have served or are currently serving in the military.

Perfect for: Aspiring homeowners looking to buy a home but have limited finances for a down payment.

Jumbo Loans

Benefits: Higher loan amounts and a variety of options to help you purchase larger and/or more expensive properties.

Jumbo loan types include:

  • Jumbo ARMs Loans. Similar to the conventional ARM loans, but more suitable for loan amounts that exceed the conforming loan limits.
  • Jumbo Renovation Loans. For homeowners looking to renovate high-cost properties.
  • Jumbo 95% Loan-to-Value (LTV) Loans. Gives aspiring homeowners the option to pay as low as 5%* down with financing up to 20 years.

Perfect for: Homebuyers looking to purchase a home in a high-cost housing market.

*Additional restrictions may apply. Contact Highland HomeLoans for more details

Refinance Home Loans

Benefits: Easier to qualify for because you already own a home, and you can free up cash by tapping into your home’s equity.

Refinance loan types include:

  • Cash-Out Refinancing Loans. Replaces your previous mortgage loan with a new one, giving you the difference in value, in cash.
  • Pool Escrow Loans. A loan that covers the cost of adding a swimming pool to your property. Allows you to roll the pool’s construction costs and refinancing expenses into a single loan.

Perfect for: Borrowers with an existing loan but want lower interest rates, shorter loan terms, or have built equity with their home.

Home Improvement/Renovation Home Loans

Benefits: Renovation can begin immediately after closing/funding, covers purchase or refinance amount, plus renovation costs.

Home improvement/renovation loan types include:

  • *HomeStyle® Loans. Provides homeowners a convenient and flexible way to make home improvements and repairs by rolling renovation and refinancing costs into a single loan. Great for borrowers looking to buy (or refinance) an older property in a longstanding neighborhood.
    *HomeStyle® is a registered trademark of Fannie Mae.
  • FHA 203K Full Loans. Government-backed loans that allow you to finance and make repairs on your primary residence. This fixed-rate loan is ideal for homeowners with limited budgets looking to repair or remodel their home.

Perfect for: Homeowners who want to make cosmetic changes to their home or need to make necessary home repairs.

Extended Lock Options

Benefits: Extra flexibility, peace of mind because of guaranteed rates, even in the event that market rates rise, and the option to make adjustments if rates drop below your extended lock rate before closing.

Perfect for: Homebuyers who want to lock in lower interest rates for up to 360 days on a house that is still being built, or if they have a future closing date on an existing home.

Need help finding the right loan for your situation? Contact Highland HomeLoans today to discuss your loan options!

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