Loan Programs
Which Loan Would You Like?
There are so many loan programs out there, it can be difficult to know which one is right for you. When you work with Easy Mortgage, you won’t be forced into a loan program that isn’t a good fit. We take your needs, credit history and goals in mind when creating your financing plan.
We encourage you to take a look at our various loan programs below and get a feel for your general options. Our passionate team is here to help you find the perfect, customizable loan and would be more than happy to answer any of your questions. You can fill out the contact form at the bottom of the page and someone will reach out shortly.
Our Loan Programs
Fixed Rate Loans
- 30-, 25-, 20-, 15- and 10-year terms are all available with fixed rate.
- Monthly payments remain the same for the entire loan term.
- Rural Housing and VA loan programs available with up to 100% financing
FHA Loans
- Government-backed mortgage by the Federal Housing Administration (FHA)
- Only available to primary residence
- Loan for purchase up to 96.5% of appraised value or selling price, whichever is lower
- For refinancing, up to 97.75%
- FHA loans offer one of the most attractive interest rates in the market
VA Loans
- Home financing for veterans, active military, or their surviving spouses
- Issued by federally qualified lenders and are guaranteed by the U.S. Veterans Administration
- No down payment required for eligible homebuyers, compared to conventional loans that generally require a 5% down payment, and FHA loans require 3.5%
- Limitation on buyer’s closing costs
- Lower average interest rates than other loan types
Conventional Conforming Loans
- Best for borrowers who have a great credit score, stable employment and income, a reasonable debt-to-income ratio, and can make a higher down payment
- Loan amounts up to $548,250 (2021)
- Fixed or adjustable rates
- Down payment as low as 5% for primary home
- For primary, second, and investment property options
- A home loan that is not backed or secured by a government entity
USDA Loans
- USDA loans are government-backed loans to encourage Americans to settle down in rural areas
- Available for moderate-to low-income homebuyers purchasing a rural property
- Down payment as low as 0%
- Lenient eligibility requirements and competitive interest rates
- There is no minimum credit score requirement
- Origination fee is only 2% of the loan’s total amount and does not need to be paid upfront
Commercial Loans
- Loans primarily for income producing properties (eg.multifamily rental apartment complexes, warehouses, hospitals, medical clinics, assisted living and skilled nursing homes, office buildings, student housing and more.
- Construction and permanent loans for multifamily rental apartment complexes under FHA HUD Section 221 (D)(4).
- Loan Terms from 3 years up to 35 years
- LTV from 65% up to 87% of the cost of the property.
- Minimum loan size requirement for multifamily and Other Commercial Loans is $3MM and 10MM respectively
Our Loan Process
WE HAVE A CHAT
We’ll meet and have a discussion. A loan officer will consult with you on your credit, manage expectations, and go over in detail what your available financing options are based on your situation and needs. We’ll then help you pick your perfect match loan, including the loan program and interest rate, that is ideal for your family.
APPLY FOR LOAN
We move full speed ahead with your application, which includes gathering as much information as possible upfront. We’ll then inform you if additional documents are needed, including tax returns, pay stubs, bank statements, and employment history.
APPRAISAL & UNDERWRITING SUBMISSION
After we receive the requested documents, we’ll promptly order an appraisal, title insurance, tax transcripts, verify your employment, and gather other documents needed for closing. One of our loan processors reviews the paperwork to “pre-underwrite” your loan, then it’s submitted for underwriting. Our underwriters rapidly, but thoroughly, access your loan to have it released expeditiously
Conditional Approval & Loan Commitment
This is the step when you can breathe a sigh of relief. Your loan has been approved, but it comes with conditions that must be met before it can close. You’ll receive your loan commitment subject to these conditions, which your loan officer will work with you to address and resolve.
Outstanding Documents Submitted For Closing
We’ll gather your additional documents noted in the conditional approval, as well as the third-party paperwork we ordered on your behalf. We then submit it all to the underwriter for “clear to close” on your loan.
Underwriting Sign Off
The underwriter reviews your loan, affirms that all conditions have been met, and signs off on approval. Now your loan is officially ready to close!
Closing
Congratulations! You’re about to become a homeowner. We’ll schedule your closing, work with escrow and title to assemble the final paperwork, and confirm the total funds needed at escrow. The last step is receiving the keys to your new home!
EN 
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