- Empowering Success through Knowledge!
Success hinges on education, particularly a comprehensive understanding of the diverse loan programs currently accessible. This knowledge is pivotal in transforming homeownership into a highly gratifying financial choice. At Countryside Lending, we recognize the individuality of each person’s needs. Tailoring our approach to each unique situation, we provide a plethora of lending options. With Countryside Lending, rest assured that we will identify the ideal loan to suit your specific requirements.
WHICH LOAN IS RIGHT FOR ME?
Loan Programs |
Advantages |
Disadvantages |
VA Mortgage
FIXED or ADJUSTABLE |
-
- Zero down payment required.
- Usually slightly lower % rates.
- Low FICO score requirements.
- May qualify in as little as 2 years after a Foreclosure or Short Sale
|
-
- Reserved for Military personnel Only.
- Must pay a VA funding fee which can be rolled into the loan.
|
FHA mortgage
FIXED or ADJUSTABLE |
-
- Down payment as low as 3.5%
- Always great interest rates.
- Guidelines less stringent than Conv.
- Lower FICO score requirement.
- May qualify in as little as 3 years after a Foreclosure or Short Sale.
|
-
- Must pay an Up-Front MI fee which can be rolled into the new loan.
- Monthly MI tends to be higher.
- Monthly MI stays on for the life of the loan.
|
Conventional
FIXED or ADJUSTABLE |
-
- Down payment as low as 5.0%
- Usually great interest rates.
- No PMI with 20% equity.
- Lower PMI monthly.
- PMI eventually falls off.
- higher depending on country.
|
-
- Higher down payment required.
- Generally more stringent qualifying guidelines.
|
No point, No fee Programs |
-
- No closing costs
- Less money required to close
|
-
- Higher rates
- Higher payments
|
JUMBO mortgage
FIXED or ADJUSTABLE |
-
- Rates usually lower on ARM’s.
- No monthly PMI required.
|
-
- Higher down payment required.
- Tougher qualifying criteria.
- Higher balance equals higher monthly payment.
- Rates tend to be slightly higher.
|
Besides our standard loan programs, we also have a large number of unique programs to serve your needs:
- Debt consolidation programs
- Home Improvement loans
- Qualify even if you may have been turned down before!