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Mortgage Products


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Conventional Loans

The Standard Fixed Rate Loan provides the stability of a set monthly payment. We offer a variety of programs with short to long terms, competitive rates, cash out options and other features that make refinancing more affordable. The Purchase Loan is available for borrowers looking to purchase a property. Our purchase loans offer a low down payment option and a fixed rate throughout the life of the loan.

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FHA Loans

The FHA loan is a federally insured loan which offers easier credit and LTV guidelines. Additional features of an FHA loan include short to long term, cash out refinancing and low, competitive rates. 

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VA Loans

VA Loans are mortgages insured by the U.S. Department of Veterans Affairs. These loans have flexible terms and are available to Veterans and their spouses.  Home Loan is proud to support our veterans with this program.

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State Housing Authority -RI & MA Housing

Home Loan Investment Bank is a lending partner with RI Housing and MA Housing. For RI Housing, both Conventional and FHA mortgages may be combined by First Time Home-buyers with RI Housing’s Extra Assistance Program to help finance the down Payment and/or closing costs.

 

Mortgage loan Comparison


  FHA* VA* RI Housing* Conv.* Jumbo*
Minimum Down Payment 3.50% 0% 0% 3.00% 10.00%
Typical Down Payment 3.50% - 5.00% 0% 0% 5.00% - 20.00%+ 10.00% - 30.00%
Max. Loan Amount $426,650 (2-4 Units can be higher) $424,100 $424,100 (Max Purchase Price) $424,100 (2-4 Units can be higher)

Primary - $2,000,000 2nd - $1,000,000

Mortgage Insurance YES: 1.75% Up-Front, financed and 0.85% annualized (paid monthly) NO: But has Up-Front Funding Fee financed (usually 2.15%) YES for some programs YES: If < 20% down YES: if < 20% down
Additional Requirements Max. debt to income ratio 43% if FICO < 620 Eligible Veteran & Residual Income  Must be 1st Time Buyers if using 100% financing   N/A See Loan Officer 
Occupancy Owner: 1-4 Units, Condo, PUD Owner: 1-4 Units, Condo  Owner: 1-4 Units, Condo, PUD  Owner / Investor / 2nd Home: 1-4 Units, Condo, PUD 1-2 Unit & Condo Owner and 2nd Homes 
Minimum FICO Score Per AUS and 580 Per AUS and 620  Per AUS and 620  Per AUS and 580 660 
Bankruptcies 2 years 2 years  FHA or Conv. Guidelines  4 years 4 years 
Foreclosures 3 years 3 years  FHA or Conv. Guidelines 7 years 7 years 
Short Sales 3 years 3 years FHA or Conv. Guidelines 4 years 4 years
Special Programs 203k Rehab  N/A Extra assistance for 1st time homebuyers Home-style Renovation N/A

YOUR HOME. OUR LOAN

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YOUR HOME

•Home Purchase

•Mortgage Refinance

•First Time Homebuyers

 •Single & Multi Family

•Townhouse

•Condos

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OUR PRODUCTS

•Purchase

•Refinance 

•Cash-Out Refinance 

•Nationwide Lender

•Fixed & Adjustable Rates

•Flexible Terms

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OUR SERVICE

•Proficient Loan Officers

•Online Loan Payments 

•Quick Loan Decisions 

•7 Convenient Locations

•Online Applications

•Secure Loan App Portal


At Home Loan, we aim to make your Home financing experience as convenient as possible...use our services below to get started today!

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