South Sound Home Loans offers a full selection of Conventional, Veteran’s Administration Loan (VA), Federal Housing Administration (FHA), and US Department of Agriculture Single Family Home Loans (USDA) mortgages to purchase a home. Listed below is a summary of these programs:
Conventional Purchase Loans
Other Loan Programs
Refinancing your existing first (and second) mortgages to lower the interest rate and/or term, paying off debts, get cash for any reason, or any combination of the above depends on how much of a loan you need and the current value of your home (loan-to-value), your credit scores, and your current income and debts. Below is a summary of refinance loans we offer:
No appraisals are required for Streamline VA and FHA refinances and Home Affordable Refinance Program (HARP) loans. Some conventional rate/term refinances may also not require an appraisal. Loan to value may not be a factor for these types of loans.
Cash-out refinances to consolidate first and second, pay off debts or to get cash will require a current appraisal. The following are loan limits for these types of loans:
The best refinance rates depend on your credit scores and the Loan to Value needed. Generally, a middle score of at least a 660-680 will qualify for a good rate, scores over 740 the best rate, and we can do refinances with scores as low as 580, however these rates will be higher.
South Sound Home Loans offers Reverse Mortgages to seniors to pay-off an existing mortgage, take out cash for any reason, set-up a monthly payment plan as needed, or get a Line of Credit. Reverse mortgages can even help down-sizing seniors purchase a new home and not have payments. This is an FHA loan guaranteed by the government.