Purchase

Products for Loans:                                                                                                                            

  • FHA Programs 96.5%
  • Conventional
  • Construction to Perm
  • FHA
  • Investment Property
  • VA Loans 100% Purchase
  • THDA with Down Payment Assistance
  • Rural Development 100% Purchase
  • Fixed / Arms Loan programs
  • First Time Home Buyer Programs

FHA Financing

FHA Financing up to 96.5 % Loan to Value- “FHA lending has become a very popular loan product in the past 6 years. Federal Housing Administration, or FHA, extends financing to homebuyers for as little as 3.5% down! This small down payment can be in the form of a gift from a family member, a gift from an employer, an auto equity loan, or simply your checking/savings account. You do not have to be a ‘first time homebuyer’ in order to obtain another FHA loan, in fact, you can own another home & still be eligible! The seller is even allowed to pay up to 6% towards ‘seller paid closing costs’ on behalf of the buyer. Buyers can obtain a 30, 20, 15 or 10 year terms for their loans on this type of product. Appraisals in Knox County for a FHA loan are $425.00. Our current minimum credit score requirement for FHA is a 600. Marissa & Margo are always willing to help you work on your credit, if it’s not up to the industry standard at the date of application.”

Conventional Lending

Conventional Lending up to 95% Loan to Value “Conventional lending is a type of financing that has been popular for many years. It is the typical loan that most buyers want to obtain. The conventional market extends financing to homebuyers for as little as 5% down! This small down payment must be the borrowers OWN funds, ‘sourced and seasoned’ in your checking/savings account for at least 60 days (or from the sale or another property etc). The seller is allowed to pay up to 3% towards ‘seller paid closing costs’ on behalf of the buyer in this type of transaction. Buyers can obtain a 30, 20, 15 or 10 year terms for their loans on this type of product Appraisals in Knox County for a Conventional loan are $400.00. Our current minimum credit score requirement for a conventional loan is a 640. However, we normally like to have at least a 680 in order to secure the best rate and lowest Mortgage Insurance Premiums.”

Rural Development Loans

Rural Development 100% Financing “Rural Development lending has become a very popular loan product in the past 5 years. Rural Development, or ‘RD’ lending extends financing to homebuyers for 0% down! You do not have to be a ‘first time homebuyer’ in order to obtain a RD loan; but, you cannot currently own another home & be eligible to purchase another one with RD financing! The seller is allowed to pay up to 6% towards ‘seller paid closing costs’ on behalf of the buyer. Buyers can only obtain a 30 year loan term on this type of product. Appraisals in Knox County for a RD loan are $425.00. Our current minimum credit score requirement for FHA is a 640. Rural Development loans for properties located in Knox County have to be eligible. There is a website that you will need to imput your property address and see if it is eligible for this type of financing. This is the link: http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do Another RD caveat is household income. Knox County household income limits for RD are not to exceed $74,500.00 annually. Marissa & Margo are always willing to help you work on your credit, if it’s not up to the industry standard at the date of application.”

Construction to Permanent Financing

Construction to Permanent Financing “ If you have a Construction loan and are ready to convert it to permanent financing, this is the loan program for you. We can do FHA, Rural Development or Conventional Lending on this type of scenario.”

VA Loans

VA Loans 100% Financing “VA lending is an amazing product for qualified Veterans. Veterans Affairs, or VA, extends financing to qualified Veterans for 0% down! The seller is allowed to pay up to 4% towards ‘seller paid closing costs’ on behalf of the buyer. Buyers can obtain a 30, 20, 15 or 10 year terms for their loans on this type of product. Appraisals in Knox County for VA loans are $375.00, but the Veteran is not allowed to pay this fee as an ‘up front’ cost. It will be paid at closing. In addition, United Capital Lending does not charge the Veteran typical fees like underwriting, processing and document preparation. These fees are absorbed by the company. All VA loans must have a termite inspection performed that cannot be made at the expense of the buyer. Our current minimum credit score requirement for VA is a 600. Marissa & Margo are always willing to help you work on your credit, if it’s not up to the industry standard at the date of application.”

Learn more with these downloadable resources: