What Specialty Loan Can We Offer You?
Which Specialty Loan Is Right For You?
The Short and Skinny for Each Specialty Loan
- VA loans are a great option for veterans and surviving spouses because they provide low rates, 0% down options, and less stringent credit underwriting criteria. VA loans do come with a potential cost, a funding fee, which can be waived under certain circumstances.
- FHA loans are typically for customers that require low down payment options, have challenged credit, or a combination of the two. FHA loans do require both upfront and monthly mortgage insurance, but FHA rates are typically lower than conventional rates.
- Non-Qualified Mortgage (Non-QM) loans are loans that do not conform with the lending guidelines set forth by the Consumer Financial Protection Bureau (CFPB). Real estate investors, foreign nationals, self-employed individuals, and credit-challenged borrowers may find themselves unable to qualify under current guidelines. This is where a Non-QM loan could come in and fill that need. Rates are generally higher for these loans due to the higher credit risks and most times require a larger down payment or equity position.
- Valley View also offers other products in a more limited capacity and on a case-by-case basis. These programs include but are not limited to Reverse mortgages, Home Equity Lines of Credit (HELOCs), 203K loans, and USDA loans.