Our Loan Programs
Conventional A conventional loan is a type of mortgage loan that is not insured or guaranteed by the government. Instead, the loan is backed by private lenders, and its insurance is usually paid by the borrower. FHA An FHA loan is a mortgage that's insured by the Federal Housing Administration (FHA). Designed for low-to-moderate income borrowers, FHA loans require a lower minimum down payments and credit scores than many conventional loans. VA The VA loan is a $0 down mortgage option available to Veterans, Service Members and select military spouses. VA loans are issued by private lenders, such as a mortgage company or bank, and guaranteed by the U.S. Department of Veterans Affairs (VA). USDA The USDA Guarantee loan is a 100% financing mortgage for moderate-to-low income homebuyers in eligible rural and suburban areas. Loans are issued through the USDA Rural Development Guaranteed Housing Loan Program, which was created by the U.S. Department of Agriculture. If you put little or no money down, you will have to pay a mortgage insurance premium, though. Jumbo A jumbo loan is a type of financing that exceeds the conforming loan limit by the Federal Housing Finance Agency (FHFA). Unlike conventional mortgages, a jumbo loan is not eligible to be purchased, guaranteed, or securitized by Fannie Mae or Freddie Mac. Luxury homes are more prone to falling into this category depending on the where the property is located and the surrounding territory. Manufactured Homes Manufactured homes are built in a factory but are governed by a federal building code. The FHA does not directly loan money to borrowers purchasing manufactured homes. Instead, loans are offered through approved lenders. FHA loans. If you own the land where your manufactured home will be placed, you may be eligible for traditional FHA financing. Renovation Loan This loan wraps renovation and purchase or renovation and refinancing costs into one mortgage. 203K Renovation loans combines the expenses of renovation into the loan and allows you to extend your payments for the renovation over the life of the loan rather than paying a lump sum. Cash Out A cash-out loan is a refinancing of an existing mortgage loan, where the new mortgage loan is for a larger amount than the existing mortgage loan, and you (the borrower) get the difference between the two loans in cash. Homeowners need at least 20 percent equity in the home to qualify. This option can be beneficial to consumers who have seen the value of their home rise in recent years.
The Polder Group also offers financing on second homes and investment propertiesCONTACT US TO LEARN MORE