MORTGAGE PRODUCTS

Specific underwriting guidelines apply to the loan programs outlined below.  Some homeowners and future homeowners might not qualify as a result of these underwriting guidelines.  This could be for a number of reasons including but not limited to credit, income, assets, and property type.  Please consult with your United Real Estate Capital representative for details.

3% Down Payment Conventional Purchase Loan
You probably would be sitting on a tremendous amount of equity today if you purchased a home in 2019.  Many shoppers held off from purchasing a home in 2018 and 2019 because they wanted to wait until they had a 20% down payment.  You can purchase a home with a 3% down payment and there are no special requirements to qualify.  Your credit must be in descent order and the home must be your primary residence.  Simple.  It’s not just for first-time buyers either. Previous homeowners are welcome.  You may even use gift funds for your down payment.  This conventional 3% down payment beats the 3.5% down payment of the FHA loan.  You will have Private Mortgage Insurance (PMI) since you are putting less than 20% down, but you can drop the PMI as soon as you have enough equity, unlike FHA loans; the PMI will last for the life of the loan when putting 3.5% down with the FHA loan, no matter how much equity you have.  United Real Estate Capital would love to help you purchase your first home.



VA Cash-Out Refinance
There is no Private Mortgage Insurance (PMI) on VA loans and the VA loan rates are consistently lower priced than conventional loans.  The VA allows you to get a loan for up to 100% of the value of your home.  For example, you can get a mortgage of $400,000 if your property is worth only $400,000; this includes getting cash out. Conventional loans charge a premium for getting cash out, but not VA loans.  The cash can be used to pay off high-interest credit cards, home improvements that can’t be avoided, tuition, weddings, automobiles, and more.  While United Real Estate Capital makes taking cash out of your home using a VA loan is easy to do, it’s important to remember that this action comes with some financial management responsibilities.  Creating an action plan prior to starting the loan process is critical. Working with a highly experienced mortgage loan originator at United Real Estate Capital can help tremendously.  United Real Estate Capital is veteran owned.



Jumbo VA Loan
Go big with a VA-backed loan.  Get a VA loan of up to $2mil with a 0% down payment and still enjoy the low VA rates with no Private Mortgage Insurance (PMI).  The Jumbo VA loan can be used for both Purchase and Refinance transactions.  United Real Estate Capital typically has VA loan documents ready to be signed in 14 to 17 days.  This loan is available for primary residences only.  United Real Estate Capital can get your VA Certificate of Eligibility (COE) for you.  No need to dig for your DD214.  So, dream big and go big with your Jumbo VA loan through United Real Estate Capital.  Thank you for your military service.  United Real Estate Capital is veteran owned.



3.5% Jumbo Loan
Get more for less.  Enjoy loan amounts of up to 1.5million with a down payment of only 3.5%.  This dream home loan comes in a variety of options including Interest Only, Adjustable, 15 and 30-year fixed offerings.  No need to push your dreams off year after year while you save money for a 20% down payment.  The best part about the 3.5% down payment jumbo loan is that there is NO Private Mortgage Insurance!  Yes, you read right.  No PMI.  All this combined with United Real Estate Capital’s fast closings and worry-free jumbo loan process makes this loan an excellent tool for building out your real estate portfolio.



Manufactured Home Loan
When a mobile home is affixed to the land that you own by way of a permanent foundation and you begin to pay tax on the home and the land as one, that mobile home is changed from personal property into real property – a manufactured home.  This loan program is available for both single-wide and multi-wide manufactured homes.  The program accommodates credit scores of 640 and above on conventional loans and 620 and above on VA loans.  A manufactured home could be a great alternative to the high prices of stick-built homes.  Manufactured homes often get confused with “Modular” homes.  A modular property is a regular home that is primarily built offsite and then transported to the location and assembled onsite.



Bank State Income Verification Loan
Some self-employed consumers take full advantage of the tax write-offs afforded them. These deductions can be a great benefit, but they can sometimes make qualifying for a home loan difficult to impossible; this is because the amount of post-deduction income showing on the tax returns might not accurately reflect how much income is actually being made.  This can result in the housing-expense and debt-to-income ratios being too high to qualify for a loan.  And while that business income might not be accurately reflected on the tax returns, it could be showing on the bank statements.  This is where the Bank Statement Income Verification loan comes into play.  Income is established by averaging the deposits over 12 or 24 months.



Debt-Service Coverage Ratio Loan
Purchasing your first rental property can be easy.  Acquiring your second and third rental properties might not pose much of a challenge either. But at a certain point, most aspiring real estate investors began to experience problems qualifying for another mortgage. This problem is typically associated with not enough rental income showing on the tax returns to offset the payments of the rental properties. The Debt-Service Coverage Ratio (DSCR) Loan could be a simple solution to a common problem like this.  The DSCR loan qualifies you based on the prospective monthly income of the rental properties; this is accomplished by using the market-rents in the area.  Up to 20 properties can be financed with loan amounts up to 2million.  The program is eligible for both short and long-term rentals.

Special Loan Features
No Fee Escrow Waivers: Did you know that many lenders and banks charge a quarter of a percent if you want to pay your own property taxes and insurance?  A quarter of a percent on a $450,000 loan is $1125.00 bucks.  There is no charge to waive your escrow account and pay your own taxes and insurance with United Real Estate Capital.

Discounted Private Mortgage Insurance: Private Mortgage Insurance (PMI) is largely responsible for turning millions of consumers into happy homeowners.  PMI is often wrongly viewed in a negative manner, but it is really the “good guy”.  It is true that those monthly PMI payments add up over time, and this is where our discounted mortgage insurance can help out.