- Fixed Rate Mortgage: with this loan, your mortgage rate and payment are fixed for the loan lifespan so, don’t have to sorry about changes in your monthly payment.
- Adjustable Rate Mortgage (ARM): this loan type is usually lower than the fixed rate mortgage because you can decide to lower your monthly mortgage payment rate.
- Construction perm mortgage: this type of loan is for a construction period and the loan changes into a permanent loan as soon as the construction period is completed.
Benefits Of construction Permanet FBC Mortgage LLC
- free to choose your own lot in any area that suits your individual location desires.
- Customer free to design your own home to fit your needs.
- You are free to choose the design and builder of your dream home
- You are free to choose your location.FHA Loan: this loan is insured by the Federal Housing Administration
FHA Loan FBC Mortgage LLC
This loan is insured by the Federal Housing Administration
- A minimum of 3.5% reduced down payment.
- Funds can come in form of a gift r grants from relatives, employer or friends.
- Requires a minimum credit score of 580.
- Lower monthly payment
- Minimal down payment
- Easy credit qualifying.
- Jumbo Loan: this loan type is usually above the maximum loan amount established by the Federal Housing Finance Agency.
USDA Loan FBC Mortgage LLC
This loan is for homebuyers who want to purchase a home outside a major metropolitan area.
- Low interest rates.
- Easy qualification criteria.
- Home must be in USDA eligibility area.
- Minimal down payment.
- Small or no credit score is not a problem.
- Minimal mortgage insurance.
- Not limited to only first time homebuyers.
- Reverse Mortgage: with this loan, homeowners over 62 years are allowed access to a portion of their home equity and can also convert it into tax-free loan proceeds.
- HARP Loan: this loan allows you to purchase a new home and an affordable mortgage even in difficult situations.
- VA Loan: this loan is issued to veterans, members of the militaryor surviving veteran spouse with no down payment and they can refinance IP to 100%.