The FHA cash-out refinance option allows homeowners to pay off their existing mortgage, and create a larger home loan that provides them with extra cash. The amount of money that can be borrowed depends on the amount of equity that's been built up in the home's value.

To be eligible for an FHA cash-out refinance, borrowers will need at least 20 percent equity in the property based on a new appraisal. Equity is the difference between the current value of a property and the amount owed on the mortgage.

FHA's Limited 203(k) program permits homebuyers and homeowners to finance up to $35,000 into their mortgage to repair, improve, or upgrade their home.

Homebuyers and homeowners can quickly and easily tap into cash to pay for property repairs or improvements, such as those identified by a home inspector or an FHA appraiser. Homeowners can make property repairs, improvements, or prepare their home for sale. Homebuyers can make their new home move-in ready by remodeling the kitchen, painting the interior or purchasing new carpet.

A VA-backed cash-out refinance loan lets you replace your current loan with a new one under different terms. If you want to take cash out of your home equity or refinance a non-VA loan into a VA-backed loan, a VA-backed cash-out refinance loan may be right for you. Find out if you’re eligible—and how to apply for your Certificate of Eligibility.

Conventional loans require 5-20% down and can be for homes priced higher than FHA loans allow.

“Conventional mortgage” or “conventional loan” is a term you're bound to encounter when you're shopping for a mortgage. Conventional loans are often the best option for borrowers with strong credit who can contribute a down payment of at least 3%, or perhaps quite a bit more. Find out what conventional means in the mortgage industry, and whether it might be the right type of home loan for you.

Home equity lines of credit are a bit different. They are a revolving source of funds, much like a credit card, that you can access as you choose. Most banks offer a number of different ways to access those funds, whether it’s through an online transfer, writing a check, or using a credit card connected to your account. Unlike home equity loans, they tend to have few, if any, closing costs, and they usually feature variable interest rates—though some lenders offer fixed rates as well.

There are pros and cons:

You can borrow against your credit line at any time, but untapped funds do not charge interest. In that way, it’s a nice emergency source of funds (as long as your bank doesn’t require any minimum withdrawals).

A jumbo loan is a type of financing that exceeds the limits set by the Federal Housing Finance Agency and cannot be purchased or guaranteed by Fannie Mae or Freddie Mac. Homeowners must undergo more rigorous credit requirements than those applying for a conventional loan. Approval requires a stellar credit score and a very low debt-to-income ratio. The average APR for a jumbo mortgage is often par with conventional mortgages, while down payments are roughly 10% to 15% of the total purchase price.

Conventional loans require 5-20% down and can be for homes priced higher than FHA loans allow.

We offer jumbo mortgages of up to $3 million or $1 Million on investment property.

Previously, construction loans for a new home on purchased land required two closings: one for the land, and one for the home. This product combines the two and better yet, this program allows FHA,VA or USDA financing.

Speak with an FHA lender to see how much you can be approved for. Your current income and credit scenario will dictate how much you can qualify for. This initial discussion with the lender is absolutely the first step in the process.