Mortgage Options
In today's evolving lending landscape, we recognize that not all borrowers fit the conventional mold most lenders adhere to. At ELΞVATΞD Home Loans, we embrace this diversity. Whether you're looking to purchase a new home or refinance your current one, we offer a wide array of financing options tailored to help our clients achieve their financial aspirations.
Conventional
Conventional loans are a popular type of mortgage, not backed by any government agency, but instead underwritten by private lenders. They typically come with competitive interest rates and may require higher credit scores and larger down payments compared to government-backed loans.
VA
VA loans are government-backed mortgages specifically designed for veterans, active-duty service members, and certain military spouses. They offer benefits like no down payment requirements and competitive interest rates, all backed by the U.S. Department of Veterans Affairs.
FHA
FHA loans are government-backed mortgages insured by the Federal Housing Administration. They cater to borrowers with lower credit scores and offer more lenient qualification requirements, including lower down payments
Jumbo
Jumbo loans are mortgages that exceed the conforming loan limits set by federal housing agencies, designed to finance luxury properties and homes in high-cost areas. While they offer larger loan amounts, they typically come with stricter credit requirements and slightly higher interest rates due to the increased risk involved.
Non-Conforming
Non-QM (Non-Qualified Mortgage) loans are a category of mortgages that do not meet the standard rules set by the Consumer Financial Protection Bureau. These loans cater to borrowers with unique income structures or those who don't fit the standard mold of conforming loans, providing flexibility in terms of income verification, debt-to-income ratios, and credit history.
DSCR
DSCR (Debt Service Coverage Ratio) loans are a type of mortgage primarily used for investment properties, where the loan qualification is based on the property's cash flow rather than the borrower's personal income. The ratio measures the property's ability to cover its debt obligations, making it a popular choice among real estate investors.
The ELΞVATΞD Team
Sean Boggs
Co-Founder NMLS 1149054
Ryan Singer
Co-Founder NMLS 1520306Contact
Contact Us
Our Address
14555 N Scottsdale Rd Suite 310, Scottsdale, AZ 85254
Email Us
info@elevated.loans
Call Us
(480) 660-0100