Amres Loan Programs

From conventional, to government, to nontraditional, you'll find it all here.

Agency

A conventional mortgage loan is a type of home loan that is not insured or guaranteed by a government agency, such as the Federal Housing Administration (FHA) or the Department of Veterans Affairs (VA). Instead, conventional mortgages are originated and serviced by private lenders, such as banks, credit unions, and mortgage companies.

‍

Conventional mortgages typically require a down payment of at least 5% of the home's purchase price, although some lenders may require a larger down payment. Borrowers with higher credit scores may be able to qualify for lower interest rates and more favorable loan terms.

Here are some examples of these types of programs

Buydown

Any and all borrowers who are looking to purchase a home but may not have the funds to pay the full amount of a loan's interest rate can benefit from a Buydown loan. The Buydown loan is designed to make smaller payments over a shorter period of time, while still enjoying a lower interest rate.

Conforming Standard

Whether you are looking to purchase a primary, secondary or investment property, Conforming loans are a great option for borrowers looking to avoid high interest rates

High Balance FNMA

With loan amounts up to $2,095,200 and down payments as low as 5%, Fannie Mae High-Balance Conforming loans can help borrowers to purchase properties located in high-cost areas

Home Possible - FHLMC

Freddie Mac's Home Possible loan offers affordable solutions to lower income borrowers with down payment requirements as little as 3%, and no geographic limits on loan amounts

Government

Government mortgage loans are backed or insured by a government agency, such as the Federal Housing Administration (FHA), the Department of Veterans Affairs (VA), or the US Department of Agriculture (USDA). These loans often have more lenient requirements than conventional loans, making it easier for individuals to qualify for a mortgage.

‍

These loans can be a great option for individuals who don't qualify for conventional loans or have limited resources. It's important to research the specific requirements and benefits of each government mortgage loan program to determine which one is the best fit for your individual needs and financial situation.

Here are some examples of these types of programs

203(K) Rehabilitation

Looking to purchase a property that requires renovation? The 203(k) Rehab is an all-in-one loan to provide the funds necessary which can save you considerable amounts on closing costs

FHA Standard

FHA loans are a great option for borrowers who may have a lower credit score, or do not have the funds for a large down payment but are still looking to qualify for a mortgage

FHA Streamline Finance

The Streamline refinances are available under credit qualifying and non-credit qualifying options. FHA Streamline loans have reduced paperwork, simple requirements for eligibility, and a list of features which helps borrowers save time and money. If you currently have an FHA Loan, you may want to consider FHA Streamline refinance. Especially if your current interest rate might be higher than today's mortgage rates or if you owe more on your home than it’s worth.

USDA

Zero money down, lenient eligibility requirements and competitive interest rates are just a few aspects of what makes USDA loans a great opportunity for anyone interested in purchasing, building, rehabilitating, or relocating a property in a rural area.

Non-QM

Nontraditional loans, or Non-QM mortgage loans, are mortgage loans that don't meet the requirements set by the Consumer Financial Protection Bureau's (CFPB) qualified mortgage (QM) rules. Nontraditional loans are typically offered to borrowers who have a high debt-to-income (DTI) ratio, are self-employed, have inconsistent income, or have other unique financial circumstances that make it difficult to meet the strict requirements of QM loans.

Here are some examples of these types of programs

1099 & WVOE Only

If you are self-employed or an independent contractor looking for access to quick funds without having to go through the lengthy loan approval process, our 1099 & WVOE Only loan may be your best option.

12-24 Months Bank Statements

The flexibility offered from the 12/24 Month Bank Statement loan provides the opportunity to self-employed borrowers who are looking to purchase a property but do not have the traditional proof of income to obtain the loan they are in need of.

Asset Depletion

If you are an someone who is looking to purchase a property and have significant verifiable assets, look no further. The Asset Depletion loan is a great way for borrowers to utilize the equity from their assets as collateral to obtain the loan they are in need of.

DSCR

The alternative qualification methods and low FICO minimum make the Amres DSCR a one of kind financing solution for borrowers of all kinds. Our DSCR program is designed for experienced real estate investors and qualified borrowers based on cash flows solely from the subject property.

Reverse

A reverse mortgage is a type of home loan that allows homeowners who are 62 years of age or older to convert a portion of their home equity into cash. Unlike a traditional mortgage, with a reverse mortgage, the homeowner doesn't make monthly payments to the lender. Instead, the lender makes payments to the homeowner.

‍

Reverse mortgages can be a useful financial tool for homeowners who want to supplement their retirement income or pay for unexpected expenses. However, they also come with risks and should be carefully considered before taking out a loan. It's important to understand the costs, repayment terms, and eligibility requirements before deciding if a reverse mortgage is right for you.

Here are some examples of these types of programs

Home Equity Conversion Mortagage as a Financial Plan

A Home Equity Conversion Mortgage (HECM) can be utilized as a financial plan by homeowners aged 62 or older to access their home equity without selling the property. Through a HECM, individuals can receive regular payments, a lump sum, or a line of credit, providing them with a potential source of income or a way to cover expenses while continuing to live in their home.

Home Equity Conversion Mortgage

Unlock the hidden value of your home with a Home Equity Conversion Mortgage (HECM). Designed exclusively for homeowners aged 55 or older, a HECM allows you to convert your home equity into tax-free funds, providing financial flexibility and peace of mind. Enjoy the retirement you deserve while staying in the home you love with a HECM.