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Types of Loans

Conventional Fannie Mae & Freddie Mac

  • Fully Amortizing Fixed Rate and High Balance - The standard in mortgage lending.  Offering competetive rates for a multitude of borrowers and financing situations. 
  • DU Refi Plus - Offering reduced verifcation and documentation to qualifying borrowers who have an origanal Fannie Mae morgage with a note date prior to Jun 1, 2009.
  • Relief Refinance Mortgage - Open Access - Offering reduced verifcation and documentation to qualifying borrowers who have an origanal Freddie Mac morgage with a note date on or before May 31, 2009.
  • Texas Equity 50(a)(6) - Offers flexible financing on the refinance of any Texas property is currently or has previously been subject to a cash-out refinance transaction. 
  • HomeStyle Renovation - Provides a convenient and economical way for borrowers considering moderate home improvements to make repairs and renovations with a single-close first mortgage. 
  • HomeReady - Designed to serve today's market of creditworthy, low to moderate income borrowers, with expanded eligibility for financing homes in designated low-income, minority, and disaster-impacted communities. A great option for first-time homebuyers and qualified borrowers who may lack the funds for a larger down payment.   
  • Home Possible & Home Possible Advantage - Designed to meet the needs of low and moderate income borrowers by providing flexible financing options that help them achieve homeownership. 

 FHA

  • Standard 203(b) - The centerpiece of FHA's single family mortgage insurance program.  It allows a person to purchase or refinance a principal residence, often with lower credit restrictions and smaller down payments than their Conventional counterpart. 
  • 203(b) Repair Escrow - Intended to facilitate uncomplicated rehabilitation to a home being purchased from HUD.
  • Streamline Refinance - This program was specifically designed to help existing FHA homeowner's lower monthly mortgage payments and interest rates with minimal documentation and without the need for an appraisal.
  • Standard and Limited 203(k) Rehabilitation Mortgages - Used to purchase or refinance a home that needs rehabilitation or major repairs.  Rather than having to obtain a separate loan to finance the cost of the repairs or walking away from a home they love because they don't have the cash for home improvements, the FHA 203(k) allows you to finance the rehab costs within the first mortgage.   
  • One-Time Close - Finance the construction, lot purchase, and permanent mortgage all with a single One-Time Close loan.  No Re-Qualification.  No Second Appraisal. 
  • Good Neighbor Next Door (GNND) - Designed to help make the American community stronger, build safer communities, and promote homeownership, GNND offers qualified purchasers a 50 percent disclount off the list price of homes available from HUD's inventory.  [All participants must be employed full time by a federal, state, county, municipal government, Indian tribal givernment, local government, public/private school.  Restrictions apply.]
  • $100 Down - Designed to help buyers qualify for HUD homes with a down payment of only $100.

 VA

  • Fully Amortizing Fixed - A program established by the United States Department of Veterans Affairs to help veterans and their families obtain home financing. 
  • IRRRL - The VA Interest Rate Reduction Refinance Loan lowers your interest rate by refinancing your existing VA home loan. 
  • One-Time Close - Allows qualifying veterans the opportunity to finance the construction, lot purchase, and permanent mortgage all with a single One-Time Close loan.  No Re-Qualification.  No Second Appraisal.

 USDA

  • Guaranteed Rural Housing - Loan Program is designed to assist households in obtaining adequate but modest, decent, safe and sanitary dwellings and related facilities for their own use in rural areas. Loans are limited to applicants with incomes that do not exceed state and local Rural Development (RD) median income limits and property that is designated as rural by RD.  Borrowers can finance up to 100% of the appraised home value or a borrower can have a gift or grant go toward a down payment with no money out of pocket.
  • Streamlined-Assist Refinance Option - Designed to assist existing Section 502 direct or guaranteed loan borrowers, to refinance their homes with greater speed and ease.

 Jumbo

  • Fully Amortizing Fixed
  • Fully Amortizing ARM

 

 

 

 

 

AmeriDream Mortgage Group, LLC
3700 Standridge Drive, Ste 101, The Colony, TX  75056
Direct:  (469) 362-4700
Toll Free:  (888) 323-2201
Fax:  (888) 492-5151
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