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PURCHASE - FHA - VA - REFINANCE - HARP 2.0 - JUMBO LOANS - REVERSE MORTGAGE

PURCHASE

No matter where you are in your home search process, we are ready to help you make the dream of homeownership a reality.

Whether you've found your 'dream house' and need a mortgage right away or you've just begun your search, our Purchase Mortgage process is uniquely designed to help you get all the information you need in a timely manner and get the deal done quickly.
 
The purchase of a home can be a daunting endeavor so it’s important to partner with a team of professionals, including a trusted REALTOR® and an experienced mortgage individual like your M&M Funding mortgage analyst. Together they can help take the worry out of the process by providing constant updates and help you navigate towards a quick and smooth closing.
 
At M&M Funding, we offer a wide array of loan programs which can help you achieve your purchase goal:

• 100% financing: loan programs which require no down payment
• FHA: mortgages that include a low down payment and flexibility if you don’t have perfect credit.
• VA: programs specifically designed for members of the military
• USDA: for purchases of homes in more rural areas
• Jumbo: loans that exceed $417,000

FHA

At M&M Funding, we offer a wide range of FHA loan programs to fit your financing needs. We recommend you get to know FHA loans, the Smart Mortgage Solution.
 
FHA loans feature:

• Refinance opportunities, even if your credit is not perfect
• Cash-out and Debt Consolidation programs
• Good Fixed interest rates loan terms available
• First-time homebuyers options
• Low down payment options
• No pre-payment penalties
• Single family homes, condos & 2-4 family homes
• Reverse Mortgages

FHA Streamline

An FHA Streamline refinance is uniquely designed to help you quickly and easily refinance your current FHA mortgage. The program is government insured and requires less documentation and underwriting than conventional loans which means you can close your loan quicker and get your funds faster!
 
And changes enacted by the Federal Housing Administration (FHA) made an FHA Streamline mortgage even more affordable! In addition to the simplicity of the FHA Streamline program (i.e.: no appraisal required, limited documentation, lower credit requirements), the program features a greatly reduced Upfront Mortgage Insurance Premium (UFMIP) and a reduced annual premium for certain FHA borrowers.
 
As an approved FHA Lender, M&M Funding can help you secure an FHA Streamline refinance today!
 
 
You can use an FHA Streamline refinance to:

• Lower your monthly interest rate
• Shorten the term of your current mortgage
• Switch from an Adjustable to a Fixed Rate mortgage

Some of the benefits of an FHA Streamline program include:

• An appraisal may not be necessary
• Lower credit requirements
• Limited documentation required

VA

Who is Eligible for a VA Loan?

Veterans
Active Duty Personnel
Current or Former Reservists/National Guard members
Some surviving spouses

At M&M Funding, it’s our honor to serve the mortgage needs of those who have served our country. The VA Loan program is a flexible lending solution designed to make homeownership more affordable for qualified U.S. veterans. If you are a qualified Veteran, we may help you lower your monthly payment, lower your interest rate or purchase a home by securing a VA loan.
 
The VA Loan program features:

• No down payment to buy a home
• Finance entire home value for both Purchases and VA-to-VA Refinances
• Cash-Out up to 95% of the value of your home
• No monthly mortgage insurance premiums
• Fixed rate mortgages available with various term options
• 1 to 4-unit primary residences with a purchase or cash-out refinance
VA Loans may be perfect for qualified Veterans who:
• Have limited savings for down payment and closing costs
• Are looking to lower their monthly mortgage payments

REFINANCE

With lower mortgage rates available and government insured programs more readily accessible, many homeowners are taking advantage and refinancing now. At M&M Funding, we create custom solutions utilizing the best programs and rates to put you and your family in a better financial position.

• Lower your interest rate
• Lower your monthly payment
• Switch out of an adjustable rate loan and into a low fixed rate mortgage
• Consolidate your bills into one easy, lower monthly payment
• Reduce the term of your current mortgage
• Fund a home improvement project like an upgrade to the kitchen, bathroom or bedroom.
• Fund a child's education
• Begin or add to a retirement plan
• Pay off owed taxes

Imagine paying off your debts AND still having a lower monthly payment than you have now. Or shortening the term of your current mortgage AND getting cash out for projects or bills. Call now and let us provide you with a no-obligation custom loan program quote to answer your financial needs.

Match your Financial Goals

Your current mortgage may not be aligned with your financial goals and, in turn, may be costing you needless additional money. Refinancing provides an opportunity to properly align your finances with your long term financial plans.

HARP 2.0

In response to the US Government's Homeowner Affordability and Stability Plan, HARP 2.0 allows for qualified customers to borrow more than the current value of their home!
 
A mortgage backed by Fannie Mae or Freddie Mac may qualify you for the HARP 2.0 program, which may help you to achieve a more affordable and stable mortgage.

• Lower your interest rate
• Lower your monthly mortgage payment
• Switch you to a FIXED-RATE loan program

Program highlights include:

• Loan amounts up to $729,7502
• Loans may be eligible for a waiver of appraisal or an exterior-only inspection
• 1-to 4-unit properties are eligible
• Mortgage Insurance may not be required
• Even available for investment and 2nd homes (lower LTV requirements apply)

JUMBO LOANS

Looking for a large loan but want a small monthly payment?
 
Our Jumbo Loan programs are designed to help homeowners secure financing for loan amounts which are higher than conforming limits, even into the millions of dollars.
 
Our Jumbo Loan programs feature:

• Both fixed rate and adjustable rate options
• Loan amounts into the millions of dollars
• FHA options featuring a small down payment*
Highlights include:
• Up to 90% loan-to-value (LTV) for purchases and refinances (including paying off 2nd mortgage)
• Up to $2.5 Million for borrowers with a 720 credit score or higher
• Up to 70% LTV Cash Out for primary and secondary properties
• Low fixed rates and 7/1 ARMS
• Fast turn around times

REVERSE MORTGAGE

If you are 62 years of age or older, now’s the time for you to enjoy life and not worry about making monthly mortgage payments! Now’s the time for a Reverse Mortgage from M&M Funding.
 
A Reverse Mortgage is a loan that empowers homeowners (62 years of age and over) to convert part of the equity in their primary residence into tax-free cash without having to sell their home, give up title or take on a new monthly mortgage payment.
 
Wouldn’t you like to have extra money to help secure your retirement, pay medical bills, and/or provide for your children or grandchildren? A Reverse Mortgage from Reliance First Capital can help.
 
A Reverse Mortgage from M&M Funding

• government regulated and insured
• features no income or health qualifications
• may allow closing costs to be financed in the mortgage

The cash you get from a Reverse Mortgage can be paid to you in several ways:

• all at once in a single lump sum of cash;
• as a regular monthly cash advance;
• as a ‘credit line’ account that lets you decide when and how much of your available cash is paid to you; or
• as a combination of these payment methods.

Call us today and our Reverse Mortgage Specialist will highlight the many benefits of the program including:

• Title will remain in your name
• Improved monthly cash flow
• Third-party counseling to help ensure you understand the program and options

A Reverse Mortgage requires no repayment as long as the property is your primary residence. Like all homeowners, you still are required to pay your real estate taxes, insurance and other conventional payments like utilities, and maintain your property in good condition. With a Reverse Mortgage, you cannot be foreclosed or forced to vacate your house because you “missed your mortgage payment."
 
Generally, you have to own your home outright, or have a low mortgage balance that can be paid off at closing with proceeds from the reverse loan, and you must live in the home. You are further required to receive consumer information from an approved Home Equity Conversion Mortgage (HECM) counselor prior to obtaining the loan.
 
With a Reverse Mortgage you can stay financially strong while you continue to live in your own home.

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