Residential Loans

• Home Improvement

• Debt Consolidation

• 100% Govt Financing – Rural Development Guaranteed Loans

Home Improvement

A loan from the US Department of Housing and Urban Development encourages community development by providing homeowners a means to make home improvements. Funds can be used for replacing or repairing a roof, adding siding to reduce energy and maintenance costs, repairing or replacing electrical or plumbing systems for safety or energy saving reasons, or even painting a home. Many lenders do not offer FHA loans or understand government loan financing. But because of our expertise, many people we finance never have to pay appraisal fees or other loan costs. Trust the experts at Best Yet Mortgage.

Eligibility

Loans may be made to applicants who:

• Are at any income level.

• Are current owners or first time home buyers.

• Own a one to four family dwelling (single family, condominium, townhouse or 1- to 4-unit buildings).

Loan Basics

• Borrow up to 97% or 100% of the home's "After Improved" value.

• 30-year fixed rate financing.

• Low interest rates.

• Pays up to 50% of all deferred materials cost prior to starting.

• Loan backed by the federal government.

How To Get Started

To get started, complete this form and then contact us at info@bestyetmortgage.com.

Get the FHA Disclosure Packet here.

Debt Consolidation

If it's time to send the kids to college or pay off other expensive debts, an FHA-backed loan may be an option. They can get most borrowers up to 95% of their home value in order to pay off and consolidate debt. In most cases, rates are in the upper 5% to lower 6% range.

Eligiblity

95% FHA cash-out loans may be made to applicants who:

• Own homes within a certain price range.

• Are US citizens, permanent resident aliens, or non-occupant co-borrowers.

Loan Basics

• 30 year fixed rate.

• Limited to 95% of the appraised value.

• The property that is security for the refinanced mortgage must be a 1- or 2-unit dwelling.

• The borrower must have owned the subject property for at least 12 months preceding the date of the loan application.

• The borrower must have made all of his/her mortgage payments within the month due for the previous 12 months, i.e., no payment may have been more than 30 days late and is current for the month due.

How To Get Started

To get started, complete this form and then contact us at info@bestyetmortgage.com.

Get the FHA Disclosure Packet here.

100% Government Financing

The United States Department of Agriculture (USDA) Rural Development provides a guaranteed loan that allows homebuyers to receive a 100% financed loan with no mortgage insurance premiums. Loans can be used to build, repair, or renovate a home, and are designed to help those who cannot get conventional financing.

Eligibility

Guaranteed home loans may be made to applicants who:

• Meet moderate income limits.

• Have acceptable credit history (generally a FICO score greater than 580).

• Have the ability to repay the loan.

• Are a US citizen or permanent resident.

• Are 18 years of age or older.

Loan Basics

• 30-year fixed rate.

• Fixed interest rate.

• No mortgage insurance.

• Can finance 100% of appraised value.

• Allows financing for repairs that are up to 100% of future appraised value.

• The home must be located in a qualified area as determined by the USDA.

How To Get Started

To get started, complete this form and then contact us at info@bestyetmortgage.com.

Get the FHA Disclosure Packet here.