Mortgage options are nearly as varied as the wants of homebuyers themselves. The expansive, diverse history represented by our team members enables us to provide the most expert partnerships for homebuyers navigating any loan type.
These loans are great when you’re first starting out because of the options for low down payments that may allow for gifts from family members. Homeowner education helps you understand and manage the financial commitments of home ownership. Often, special options to partner with State and local housing authorities are available as well.
Refinancing gives you a new mortgage to replace your original mortgage. Often the new loan provides you with a better interest rate to lower monthly payments, remove mortgage insurance or take equity out of your home, also known as “cash out refinance”.
This specialty loan provides flexible qualifying guidelines for eligible veterans and other eligible borrowers. VA loans may include financing the VA funding fee and obtaining the loan with no down payment. Mortgage insurance is not required with a VA loan.
FHA Loans allow lower down payments, lower rates and more lenient underwriting qualifications because they are insured by the Department of Housing and Urban Development (HUD). An FHA loan requires up front mortgage insurance as well as monthly mortgage insurance, but can be a great product for first time home buyers.
The perfect loan if you need a mortgage amount that exceeds the conforming (conventional) loan limits set by Fannie Mae and Freddie Mac. Similar to conventional loans, Jumbo loans offer terms of 15, 20 or 30 years with mortgage insurance options for less than 20% down.
Conventional loans work well if you are looking to purchase or refinance a home loan and have at least a 5% down payment that is not guaranteed or insured by the federal government. Conventional loans come with the choice of 15, 20 or 30 year terms. If you have less than a 20% down payment, you will need mortgage insurance.
A reverse mortgage can be used to purchase a new home, or to help the borrowers pay for increased or unexpected life costs by giving the borrower access to a portion of their home equity. It is a non-recourse loan in which the borrowers always retain the title.
With a CrossFirst Bank Construction-to-Permanent Loan, your home's financing will be approved and closed before construction begins. You will enjoy the convenience and savings of one closing, one set of closing costs, and one construction loan.
If you're ready for a smooth process to the financing of your new construction, reach out to us today or fill out our application.
Considering a home renovation or other large purchase? A home equity line of credit can be a great option to finance your dream project. It's flexible so you use it as you need it, providing the freedom you need to complete your project or make a big purchase.
Our Private Bankers will guide you through every step of the process and thoroughly outline your situation.
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