Oak Hill Mortgage, LLC is a mortgage broker with access to hundreds of residential home loan programs provided by numerous lenders. We also have commercial/investor funding sources. Working with a broker gives you more program choices, more flexibility, and competitive rates that you often can’t find at larger mortgage companies or banks. Here are some highlights:
- Government Programs: Normally the best rates, FICO’s as low as 500, and low/no down payment, but usually involves extra costs for monthly mortgage insurance (often permanent) and/or upfront fees. Primary home loan only. Renovation and construction loans are also possible for some.
- VA – for qualified veterans
- FHA
- USDA – rural area and has income limits.
- Conventional Programs (updated Jan 2023): Excellent rates. Mortgage insurance required with less than a 20% down payment but is not permanent.
- 1 Unit Property Loans up to $726,200 (nationally) and $1,089,300 (high-cost areas)
- Up to 4 Unit Property Loans
- Jumbo Loans (normally above the national or high-cost loan limits)
- Renovation Loans available
- Non-Conventional Loans: Flexible and expanded qualification, but higher rates & cost.
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- No Income Loans for Primary Home purchase
- Bank Statement Program (in lieu of taxes for self-employed)
- Debt Service Coverage Ratio (DSCR) loans – Investment Property Loan that bases qualification on predicted rent income vs. housing costs, FICO score, down payment, and other factors. Employment income is NOT a qualification factor.
- Fix & Flip Loans
- Bridge Loans
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