Our Loans

So many loans, so little time.

WE HAVE THE LOAN THAT'S RIGHT FOR YOU.

Whether you are a first-time homebuyer, purchasing your third home, or looking to refinance, we have the loan to fit your needs. Connect with an experienced loan officer to be set up with the loan that is right for you. As an equal housing opportunity lender, we offer the widest possible range of mortgage loans available to ensure you can find your perfect home loan. Let TruRateAdvantage.com find the perfect loan for you.

Conventional vs. FHA Loans

We get asked every day "what's the best loan, conventional or government and why?" The answer is that it depends on your specific circumstance. To provide a bit more understanding though, we've put togther this list of pros and cons for each type.

FHA | Government Loans

Pros and Cons

Great for buyers with low credit and/or small down payments.

Government loans are great for the first-time homebuyer with little - to - no credit.

Some programs, such as USDA and VA loans, require no down payment at all.

Our Government loans include:

  • FICO 620

  • FHA Purchase and Streamline

  • FHA Standard

  • VA Standard

  • FHA High Balance

  • VA High Balance

  • USDA

  • VA Purchase & IRRL

  • Jumbo

  • Fixed Loan Programs

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Pros

  • Greater flexibility for lower credit scores

  • Little to no down payment required

  • Non-occupant co-signers allowed

  • Lower interest rates compared to conventional loans

  • Ability to streamline refinance process

Cons

  • Mortgage insurance must be paid upfront

  • Mortgage insurance cannot be removed without refinancing

  • Harder to approve once declined by another bank

Conventional Loan

Pros and Cons

Generally for buyers with good credit and down payments of 3.5% or more.Conventional loans are for buyers with good credit, good savings, and the ability to put more than a 3.5% down payment. Conventional loans are also good options for buying an investment property. We offer the following conventional loan programs:

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  • Direct Freddie Mac

  • FNMA Direct

  • Freddie Home Possible

  • Fannie Mae HomeReady

  • Aggregators and Minimum FICO 620

Pros

  • Easy approval process

  • Only 1 year of tax documents required for W2 borrowers

  • Flexible mortgage insurance options for borrowers with less than 20% down

  • Easier appraisals for condo financing

Cons

  • Harder to qualify with a low credit score

  • Longer waiting periods after a bankruptcy, loan modification, short sale, or foreclosure

  • FICO score and loan amount can affect mortgage insurance and rate

Home Ownership Made Easy

Our primary goal is to make your dream of home ownership a reality and to do it in a fashion that makes it all as easy as the pies you'll bake in your new kitchen. Lets us SHOW you the TruRate Advantage. You'll be glad you did.

Office:

Call 760-490-4094

Email: bstacy@trurateadvantage.com

Site: trurateadvantage.com

Copyright 2024 • All rights reserved TruRateAdvantage.com is not a government agency

States We Service

  • Alabama

  • Arizona

  • Arkansas

  • California

  • Colorado

  • Florida

  • Idaho

  • Illinois

  • Utah

  • Maryland

  • Michigan

  • Ohio

  • Oregon

  • Pennsylvania

  • Texas

  • Tennessee

  • Georgia

© 2024 TruRate Mortgage /TruRateAdvantage.com is an Equal Opportunity Lender and not a government agency.

TruRate Mortgage /TruRateAdvantage.com are Consumer-Direct Division of Lending3 Inc.,

a wholesale lender.

NMLS # 245420​​​​
NMLS Consumer Access: www.nmlsconsumeraccess.org


A pre-approval does not constitute a loan commitment or guarantee of a loan. Pre-approval is subject to a satisfactory appraisal, satisfactory title search, and no meaningful change to borrower's financial condition. This is not an offer for nor extension of credit or commitment to lend. All loans must satisfy company underwriting guidelines. Not all applicants qualify. Information and pricing are subject to change at any time and without notice. The content in this advertisement is for informational purposes only. Products not available in all areas. As prohibited by federal law, we do not engage in business practices that discriminate on the basis of race, color, religion, national origin, sex, marital status, age (provided you have the capacity to enter into a binding contract), because all or part of your income may be derived from any public assistance program, or because you have, in good faith, exercised any right under the Consumer Credit Protection Act. The federal agency that administers our compliance with these federal laws is the Federal Trade Commission, Equal Credit Opportunity, Washington, DC, 20580. Lending 3 and TruRate Advantage are Equal Housing Lenders.