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Home  Loan Programs Equity Lines
Home Equity Lines
Reusable Credit for your Home. A Home Equity Line of Credit (HELOC) functions much like a low interest credit card. A lender gives you a credit line, and you can use that credit line for whatever purposes you desire. You only pay interest payments on the actual amount of money that you borrower. You can pay back some or all of the money, and reuse the credit line again and again. HELOCs differ from Credit Cards because they have lower interest rates. However, they are secured by your home, which means if you fail to pay back your debt, the lender can try to foreclose on the property. HELOCs are often used as a safety net. People get them, just in case. If you lose your job, you can use the credit line to help keep the bills paid until you find work again. If you have an emergency, you can use your credit line to pay for it. If you have sudden expenses, such as automobile repairs or medical bills, a HELOC can come in handy. Oftentimes HELOCs are also used to pay for tuition expenses or to help finance an upstart business. A HELOC can also be used to help pay off other debts. If you have various credit cards at rates higher than the rate of a HELOC, it might make financial sense to pay off those cards with an Equity Line of Credit, consolidating them into one bill and considerably lowering your monthly payments.  By far one of the most useful reasons to get a home equity line of credit is to fund home improvement projects. Want to redo your kitchen, paint the exterior of your home, or replace some outdated appliances? Get a checking account and a gold card with your home equity line of credit to spend on the things you need for your home, and enjoy the tax benefits of a mortgage that other finance options don't provide.
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Purchase Loans
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Opening the door to home ownership. Trained mortgage professionals are proud to help borrowers purchase homes everyday. Whether you have perfect credit or have had some trouble in the past, responsible lenders and mortgage brokers have purchase loan programs tailored for your individual needs. Whether you are looking to buy your first home, the place where you will retire, or something in between, a trained loan officer will have the experience and the expertise to help you get the best loan at the best terms possible.  FHA Home Purchase Loans. An FHA loan is backed by mortgage insurance offered by the Federal Housing Authority. These loans are available to borrowers even with a credit blemish or two, if they meet certain eligibility requirements. An FHA Loan will allow qualified borrowers to buy eligible properties for as little as 3% down and closing costs can be financed into the loan. Click here for more information ahout FHA Purchase Loans .
- The Housing Initiative. There are some exciting loan programs that fit many borrowers. Recent U.S. Citizen with limited credit? Public Safety, Health Care, or Education Worker? First Time Buyer? When many banks would turn you down or require a significant downpayment, some banks and lenders can help you get into a home with a minimal down payment. With the Housing Initiative, many brokers and lenders help more people achieve the dream of homeownership. Are you ready to take the next step? Click here for more information about these exciting home purchase programs.
- First Time Home Buyer Programs. Many brokers and lenders work with first-time buyers each day. The exciting Housing Iniative program has lenient guidelines to open up homeownership to many people, but even if that particular program isn't right for you, other options are available. True Mortgage Professionals understand the needs of first-time buyers and have other programs that can be tailored to meet your individual needs. Stop renting and start building wealth. You can own your own home. Click here for more information about first time homebuyers.
- 100% or Great Financing. Have little money to put down? Maybe you want to go to the closing table with no money at all. These programs are not regularly available anymore, but there are some lenders who offer no money down programs in certain geographic regions, but have slightly higher interest rates. Click here for more information about 100% or greater finance options.
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Construction Loans
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Why by a home with someone else's problems and past, when you can move into a brand new home designed around your family and your lifestyle? Want a little larger bedroom? Need some extra closet space. Do you really want a basement and cathedral ceilings? You can control it all when you build your home the way you want it, and at the same time create instant equity and wealth. The following residential construction financing options are available to qualifying borrowers: - Construction-to-Permanent Mortgage Financing offers borrowers the chance to hire a General Contractor and build their dream home. Construction-to-Perms are generally One-Time-Closing loans where the borrower can close on the lot, the construction, and the permanent financing all at once. One-Time-Close Loans (sometimes referred to as OTC loans) potentially save the borrower thousands of dollars in fees and expenses. These loans also alleviate the uncertainly of conducting three different transactions, because the borrower qualifies one time, up front, and doesn't have to worry about changing market conditions, rates, or items in their personal life that might alter their qualification ability. Click Here For More Info on Construction to Permanent, One-Time-Close Loans.
- Owner-Builder Construction Loans allow a borrower to build their own home, without a third-party General Contractor. Experienced tradesmen can act as their own contractor and novice builders can hire supervisors to advise them during the process for less than it would cost to hire a traditional builder. Owner-Builder loans help borrowers create instant equity and wealth in their property and control ever aspect of the construction process. Click here for More Info on Owner-Builder Construction Loans.
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Refinance Loans
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Sometimes the most important thing you can give your family is financial security. So many things compete with your money every month, and before you know it the bank account is squeezed. From braces to tuition, home improvements and auto payments... your money often seems to go out as fast as it comes in. Our trusted Mortgage Professionals can help. We can't control all of your monthly expenses, but we can help with your mortgage. From debt consolidation loans to rate & term reductions and cash-out refinances, Your loan officer will help you improve your monetary situation and increase your family's financial security. - Cash-Out Refinance. Whether you have perfect credit, or have had some bumps along the way, sometimes you need a little cash for life's unplanned events. Rather than borrow money from other sources, get cash from the equity you have been building in your home. And remember, mortgage loans often include tax benefits and low interest rates. Can you say that about your credit cards or other potential sources of cash? Click here for more information about Cash-Out Refinances.
- Debt Consolidation Loans. Do you have high interest rate credit cards? How about personal loans, or other debts? Would one payment every month be easier for you to manage? Would you like to consolidate your debts and benefit from lower rates and tax savings that a new mortgage can provide? Contact your trained mortgage consultant about debt consolidation loans. Click here for more information about Debt Consolidation Loans.
- Rate & Term Reductions.Mortgage Consultants help borrowers everyday save money by lowering their interest rates and/or reducing the term that remains on their mortgage. If its been a while since you purchased or refinanced your home, if you have a higher interest rate, or if your home has increased in value, we can help. Ask your loan officer how you can lower your monthly payments and pay off your home faster. Click here for more information about Rate & Term Refinance Loans and save.
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Commercial Loans
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Some mortgage brokers tell you they can help you with your commercial loans, but can they really? Do they have the experience funding commercial projects? Have they funded multiple residential developments, commercial construction projects, retail stores and auto mechanic shops? Have they funded mixed unit residential properties, apartments, and group homes? If your mortgage broker says they can help you with your commercial loan, but don't have much experience, all I can suggest is that you RUN. Commercial loans are not the same as residential loans. The differences are night and day, and understanding that is just the beginning to being an effective funding source for commercial real estate projects. When you are ready to open for business, make sure you call someone who specializes in Commercial Loans and can provide you with real expectations on how viable your commercial project is.
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Documentation Types
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LFS Home Loans offers a variety of Documentation Types to meet the needs of our customers. We understand that every borrower is not able to fulfill the requirements of traditional full documentation programs, and many more who could provide the extensive documentation don't want to. For that reason we offer a variety of options for our customers, and will work with them to find the solution that best meets their individual needs. We also offer Mortgage-Only and Bank Statement Programs that will allow borrowers to qualify by their payment history, or by their bank statement deposits instead of standard income tests. Click on one of the links above for additional information about each documentation type.
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