FHA Mortgage and Traditional Mortgage Programs:

In today's lending environment, government-backed Federal Housing Authority (FHA) mortgage programs are a good choice for borrowers who have documentable income and are looking to purchase a new home or refinance an existing one.  In many cases borrowers with credit scores that are less than 600 are approved for a loan.  Traditional loans may be an option, but it should be compared to its FHA counterpart.

FHA home purchase programs require downpayments as low as 3.5% of the purchase price.  FHA refinance programs offer the ability to cash-out or lower the interest rate on your current mortgage.  The loan-to-value in these refinance transactions can be up to 80% of the home's current value for owner-occupied properties and up to 75% of the home's value for non owner-occupied or investment properties.

Reverse Mortgage Programs

At Ameritrust Solutions we have helped thousands of seniors learn about government non-government backed reverse mortgage programs and how they may be beneficial to them and their loved ones.  If you are a homeowner and are 62 years of age or older, you may qualify for a reverse mortgage.  Simply put a reverse mortgage allows you to stop making mortgage payments for the rest of your life and your spouse's life as long as your home remains your primary residence.  Qualification is easy and takes less than ten minutes over the phone.

Jumbo Mortgage Program & Interest-Only Mortgages

Looking to refinance your primary, vacation or investment property?  There are jumbo mortgage programs available that will allow you to obtain cash out of up to 90% of your property's value with no PMI (Principal Mortgage Insurance).  Interest only mortages are still available in the mortgage marketplace for qualified borrowers at extremely competitive financing terms. 

Please call Ameritrust Solutions today at 1-800-899-5395 where we will be able to offer you free advice and guidance to help you to determine your best course of action.