Loan Program Options
Construction Loan Programs
Veteran? Let’s Build Your Dream Home Together!
Click to see OTC Options
Key Features:
✔ Up to $4 million in financing
✔ $0 down payment
✔ No debt-to-income ratio requirement—qualification based on residual income
✔ Primary residence only
✔ Minimum credit score of 580
Not a Veteran? We’ve got you covered
with a OTC loan
One-Time Close Construction Loans
Click to see OTC Options
Conventional Loans
✔ As little as 5% down (primary residence)
✔ Eligible for primary, secondary, and investment properties
✔ Minimum credit score of 700
FHA Loans
✔ Only 3.5% down required
✔ Debt-to-income ratio up to 56%
✔ Minimum credit score of 580
other Loan Programs
purchase
Advantages:
✔ All interest on the mortgage may be tax deductible*
✔ Establishes credit history
✔ Secured investment
✔ Builds equity
✔ Can be used to borrow against
*Supreme Lending is not a licensed CPA or Tax consultant and therefore, cannot determine if your mortgage interest will be eligible as a tax deduction per IRS code. You are advised to contact a tax professional. This in no way implies you are guaranteed a tax credit.
Specialty Loans
Jumbo loans can help homebuyers purchase “more house,” such as luxury properties or vacation homes, without tapping into savings.
✔ Designed for more expensive primary, second, or vacation homes
✔ Fixed-rate and adjustable-rate options
✔ Wide range of repayment terms
✔ Specialized programs with lower than 20% down payments
USDA
The U.S. Department of Agriculture (USDA) is best known for supporting farmers and ranchers. But it also helps people buy homes without putting any money down.
✔ 100% financing available
✔ Lower interest rates
✔ Down payments as low as 0%
✔ Reduced closing costs
✔ Lower credit requirements
✔ Gift funds can be accepted
DOCTOR LOAN
Designed for medical professionals with up to 100% financing for eligible borrowers.
✔ No Private Mortgage Insureance (PMI)
✔ Eligible certifications include Physicians (MD, DO), Dentists (DDS, DMD), Medical residents & fellows, VeterinarianS
✔ Primary residences only
Renovation
Kitchens and baths. Pools and patios. Roofs and gutters. Attics and basements. Renovation loans canhelp you finance your home remodeling or repair projects
✔ Primary residences and investment properties
✔ Lower credit requirements
✔ Indoor or outdoor improvements
✔ Purchase or refinance options available
Reverse
A reverse mortgage* is a way for seniors to turn their home’s equity into cash to meet any financial need. Unlike traditional home equity loans, a reverse mortgage does not require repayment until the home is sold, or the last borrower permanently leaves the home. Borrowers are responsible to cover taxes, insurance, HOA fees, and property maintenance, just like any other mortgage.
✔ The borrower(s) continue to own the home (the bank does not own it!).
✔ The borrower(s) can never owe more than the home is worth.
✔ There is no prepayment penalty.
✔ The reverse mortgage must be paid back when the home is no longer the borrower(s) primary residence.
Refinance
Refinancing* is when you replace your current mortgage with a new one that may have more favorable terms. Discover how a refinance loan may help you unlock potential savings and reach your goals!
Benefits of Refinancing
✔ Lower Interest Rate.
✔ Reduce Monthly Payments.
✔ Shorter Loan Term.
✔ Switch Loan Type.
✔ Cash Out on Your Equity.
✔ Pay Off Higher-Interest Debts.
✔ Eliminate Private Mortgage Insurance.
FHA
FHA loans are an excellent option for first-time homebuyers and those who may not be looking to make a large down payment.
✔ Lower credit score requirements
✔ Lower down payment of at least 3.5%, in most cases
✔ Fixed-rate and adjustable rate options
✔ Other requirements and conditions apply
VA
VA loans help millions of eligible military Veterans and active-duty personnel purchase or refinance their homes and provide 100% financing.
✔ Lower interest rates and closing costs
✔ No down payment requirement
✔ No private mortgage insurance required
✔ Fixed-rate and adjustable-rate options
✔ Available for first-time and repeat homebuyers
✔ Variety of eligible VA-approved property types
Conventional
Conventional loans are popular as they typically offer favorable terms.
✔ Fixed-rate and adjustable-rate options
✔ Wide range of repayment terms
✔ Down payments as low as 3%
✔ Competitive interest rates
✔ Minimum credit score of 620, in most cases
✔ Other requirements and conditions apply