The following is a partial list of programs offered by Alta Mortgage Group with a brief description of the key elements of each. For a complete list of the programs that we offer, please contact us at 801-628-9400.
These materials are not from HUD or FHA and were not approved by HUD or a government agency.
Conventional Loans
A popular loan type, conventional fixed rate loans feature a constant interest rate for the life of the loan. Generally speaking, monthly payments remain constant. Traditionally borrowers are expected to provide a 20 percent down payment though this is not necessarily required. Contact us for details on down payment requirements. Available terms generally range from 10 years, 15 years, 30 years and 40 years.
Learn MoreFHA Loans
FHA loans are insured by the Federal Housing Administration and are best for first-time home buyers and those with less than perfect credit. These loans require a lower minimum down payment and lower credit scores than many conventional loans. FHA loans are available with fixed or adjustable rates.
Learn MoreVA Loans
VA loans are available to veterans, active-duty service members, and eligible surviving spouses. These loans are guaranteed by the U.S. Department of Veterans Affairs and offer competitive interest rates, no down payment requirements in most cases, and no private mortgage insurance (PMI).
Learn MoreUSDA Loans
USDA loans are backed by the U.S. Department of Agriculture and are designed for rural and suburban homebuyers who meet income requirements. These loans offer 100% financing with no down payment required, competitive interest rates, and reduced mortgage insurance costs.
Learn MoreJumbo Loans
Jumbo loans are mortgages that exceed the conforming loan limits set by the Federal Housing Finance Agency. These loans are used to finance luxury properties and homes in highly competitive real estate markets. Jumbo loans typically require a larger down payment and excellent credit.
Learn MoreReverse Mortgage
A reverse mortgage allows homeowners aged 62 or older to convert part of their home equity into cash. Unlike a traditional mortgage, you don't make monthly payments. Instead, the loan is repaid when you sell the home, move out, or pass away. This can be a valuable financial tool for retirement planning.
Learn MoreDSCR Loans
Debt Service Coverage Ratio (DSCR) loans are designed for real estate investors. These loans qualify borrowers based on the income generated by the property rather than personal income. Available in 41 states, DSCR loans require no personal tax returns and are available for trusts, LLCs, and corporations. Up to 8 units per building and up to 25 properties per loan.
Learn MoreConstruction Loans
Construction loans provide financing for the building of a new home or major renovation of an existing property. These are short-term loans that cover the cost of construction. Once construction is complete, the loan can be converted to a permanent mortgage. We work with you through every step of the building process.
Learn MoreNon-QM Loans
Non-Qualified Mortgage (Non-QM) loans are designed for borrowers who don't meet the standard qualifying criteria for conventional loans. These may include self-employed individuals, investors, or those with unique financial situations. Non-QM loans offer flexible qualification criteria and can be a great alternative for those who don't fit the traditional mold.
Learn MoreRefinance Loans
Refinancing your mortgage can help you lower your monthly payments, reduce your interest rate, shorten your loan term, or access your home's equity. We offer a variety of refinance options including rate-and-term refinance, cash-out refinance, and streamline refinance programs for FHA and VA loans.
Learn MoreForeign National Loans
Foreign National loans are designed for non-U.S. citizens who wish to purchase property in the United States. These loans accommodate borrowers who may not have a U.S. credit history or Social Security number. We work with foreign nationals to find the best financing options for their investment or vacation property needs.
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