Different Buyers, Different Loans

Premier Plus Lending has a robust suite of loan options available for our clients. Connect with us to discuss your unique situation, and we’ll find the optimal loan solution for you.

mature couple consulting with loan officer on home refinance
Conventional Loans

Benefits

The costs are lower overall. Additionally, sellers like buyers with this preapproval because the added steps of an FHA appraisal are not required.

Conditions
A debt to income ratio of 43% or less, a credit score of 620 or above, and carrying insurance until loan to value ratio reached 80%.

FHA Loans

Benefits

Lower down payments and lower credit scores accepted.

Conditions
Down payment as low as 3.5% with credit score of 580 or above. For credit scores between 500-579, 10% down payment required. Requires FHA inspection and FHA mortgage insurance.

FHA 203k Rehab Loans

Benefits

Simplicity – a buyer can pay for a house and its rennovations from a single loan, with a down payment as low as 3.5-10%.

Conditions
Licensed contractors must do the improvements within 6 months. Not available to investors – available only to buyer’s primary residence and/or nonprofit groups.

Home Equity Line of Credit

Benefits

Access your home’s equity as you need over a period of time, and repay only what you borrow (with interest). Lower rates than other forms of credit, potential to access a much higher amount than available with a personal loan. Interest is tax deductible.

Conditions
Variable interest rate and the home is collateral.

Jumbo Loans

Benefits
Ability to borrow the money needed for more expensive homes with a single loan.

Conditions
Strong credit. Not all properties qualify. There’s a ceiling on the amount that can be borrowed.

More closing costs. At least 10% down interest required, often as much as 25-30%.

Reverse Mortgage

Benefits
Fund your retirement goals by accessing your home’s equity without selling.

Conditions
Amount is based on equity, borrowed with fees and interest. There are many options, from tenured to term.

USDA Loans

Benefits
The provide some strong advantages to rural homebuyers who may have lower credit, including flexible down payment options – possibly even no money down – and competitive interest rates.

Conditions
These have income limites, some property restrictions, and USDA program fees apply.

VA Loans

Benefits
For our US Veterans, these loans have easier qualifications, require no down payment, no mortgage insurance, and offer lower interest rates and fees.

Conditions
Intended for primary residences.

Non-QM Loans

Benefits
Allows borrowers to qualify with alternative documentation such as bank statment deposits or Profit and Loss Statements.

Conditions
Typically requires 20% down and comes with a higher interest rate when compared to a “full document” loan.

We’re looking forward to supporting you with a superior, personalized loan experience.

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Phone

Direct: 800.963.4623

Address

13412 Ventura Blvd #220

Sherman Oaks, CA 91423