What are my options?
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I want to:Purchase a new home Refinance my home Access my home equity
Become a homeowner for the first time
New to the mortgage world? Awesome! With our focus on service and integrity, we take pride in guiding first-time homebuyers through the mortgage process. We’ll make sure you have everything you need, including continuous access to support in case you have questions or are uncertain about what’s going on.
Buy a new home before I sell my current home
Financing a new home purchase before you sell your current home can be tricky. Luckily, we have programs that can keep your move on track. If you’re interested in buying before you sell, look for a mortgage advisor who lives in the area you want to move to, not in your current neighborhood.
See what loan programs are available to me as a veteran of the U.S. Armed Forces
Veterans (and their spouses) have access to special loan programs sponsored by the U.S. Department of Veteran’s Affairs. Both federal and state programs may be available, with benefits like low interest rates, no down payment required, closing cost assistance, and more. Your exact benefits may vary based on factors such as where you live, so make sure to talk to a mortgage advisor to get the full briefing on what’s available to you.
Buy a new home in a rural area
The United States Department of Agriculture (USDA) offers a loan program exclusively for buyers looking to move to rural areas. The idea behind these loans is that the USDA can help foster growth and development in these areas by making it easier to purchase property or a home. These loans don’t require a down payment, which can put homeownership within reach for lower-income families. The USDA does have specific criteria for qualification for this loan. To make sure you can qualify, you’ll want to talk to a mortgage advisor about all the details of where you want to move and what kind of home you plan to purchase.
Generate rental income
There are several reasons why buying a home is such a significant step. It isn’t just about the symbolism of owning your own place, or even the cost associated with making a purchase. Owning property can present a substantial investment opportunity. Our advisors can coach you through the purchase of a starter property that you can then use as a rental once you upgrade to a larger home.
Purchase a multi-family home
There are several loan programs available for those interested in purchasing multi-family homes. Factors such as your current financial situation, whether this is your first home, whether you plan to live on the property and the purchase price, among others, can impact which type of program is right for you. When you meet with your mortgage advisor, make sure to let them know that you want to purchase a multi-family home, what you plan to do with that property, and whether you have any special characteristics. For example, veterans of the U.S. Armed Forces may be eligible to use VA loans to purchase multi-unit properties.
Build a new home
Not finding your ideal home on the market? Have your heart set on a specific location that’s currently available as a lot? Building your own home can be a dream come true but requires a specific loan process that’s more complicated than what’s involved in a standard home purchase. If you think building your own home might be the best choice for you, talk to a mortgage advisor about it so you can make sure the payoff will be worth the effort.
Reduce monthly mortgage payments
Mortgage rates change over time, and that can make some homeowners feel like they got a bad deal when they purchased their home. That’s not the case, though. With a refinance, you can change your rate, thereby lowering your monthly payments. Our mortgage advisors can help you determine whether refinancing is a viable option for you.
Eliminate mortgage insurance
Even if mortgage rates aren’t much lower now than they were when you purchased your home, you can still save money by refinancing into better loan terms. If you’re currently paying mortgage insurance every month, you could end up saving a significant chunk of change if you refinance.
Switch to a fixed interest rate
Variable-rate mortgages have a few pros and cons. On the plus side, they allow homebuyers to avoid getting locked into a static rate in a climate where interest is expected to decline. On the minus side, your rate can theoretically go back up, which means that your monthly payment can change over time. Refinancing into a fixed loan when rates are low can allow you to benefit from low interest on a consistent basis.
Refinance and access equity
If you’ve built up significant equity in your home and want to access some of that value so you can make a big purchase, you might want to consider a cash-out refinance. With this type of refinance, you’ll receive a cash payment after signing, and that cash will get folded into your new mortgage. This can alter your loan term, but that may be a worthwhile tradeoff. The cash you can access with this type of refinance is generally available at a much lower rate than personal loans or credit cards can offer.
Get extra cash for home renovations, pay off debt, or make other big purchases
A home equity line of credit (HELOC) functions much like other revolving credit account types, like credit cards. While convenient, HELOCs are secured against the value of your home, so this isn’t a good option to pursue if you need cash to cover basic expenses. Your mortgage advisor can help you decide if a HELOC is the right choice for your needs. Another way to get extra cash for big expenses is to do a cash-out refinance. This type of refinance allows you to both get better terms for your mortgage and to pull from your existing equity.
If you already own a home and are thinking about ways to generate passive income, you can consider using the equity in your home to purchase a second property. You can then keep your current home, rent it out, and move into the second home. This way, you can make your home equity work for you and build your investment portfolio at the same time.
Shore up retirement funds
Reverse mortgage is an option for certain homeowners over the age of 62. With a reverse mortgage, you can receive regular payments that come from the equity you’ve built up in your home. We’ll help you consider all angles and determine whether this is the right path for you.
Our mortgage process
It’s different—because it’s all about partnership, not paperwork.