Less than Perfect Credit
One Source
Mortgage has a vast array of loan programs for every type of
borrower. We understand not everyone will have a perfect credit
history and life situations happen that cause credit problems.
We are here to help!! We have programs for purchasing a new
home, refinancing the one you’re in to take cash out to
consolidate those debts, for home improvements or just about
anything. We allow higher loan to values than most lenders and
will even do the loans on low doc type loans. If the loan makes
sense- we are usually able to approve it.
Adjustable Rate Mortgage
This
program enables you to purchase more house for your money by
offering lower payments, easier loan approval, and specified
adjustment periods so you can anticipate changes in your payment
schedule.
Long-term
Rate Lock
Lock in
today’s rate for up to 360 days while your new home is under
construction
No Points.
No Closing Costs.
Lock in at
a low rate and pay no points or closing costs. Let us pay your
closing costs for you.
First Time
Homebuyers Programs
One Source
Mortgage offers many programs for First Time Homebuyers. Enjoy
loan features such as no money down programs on Fixed or
Adjustable loan programs. Depending on your credit score, we
will allow higher qualifying ratios so you can afford that new
home today. We even offer programs for less than perfect credit
with attractive rates.
My Community
Mortgage
This is a
“new affordable home loan solution” that can be beneficial for
the needs of first-time homebuyers, lower income households or
people who don’t want to take money out of their bank accounts
for their down payment or closing costs. This program will allow
you to save money on your monthly payments, reduce mortgage
insurance.
Second
Mortgage Programs
As
mortgage rates go up and down, some client prefer not to
refinance the first mortgage they may have. At One Source, we
realize that and offer Fixed Rate and Home Equity Line of Credit
loans to give you access to the equity in your home for just
about any purpose. In most cases the interest you pay on these
second mortgages are tax deductible (consult your financial
advisor as to IRS rules on tax deductibility). Most Second
Mortgages have little or no closing costs options.
Fixed
Rates
Fixed Rate
programs offer you the security of a fixed monthly payment each
month that will not change for the term of the loan. You get
all your money at once and pay a secure fixed rate until the
loan is paid off in full.
FHA Loan Program
This is a
government backed loan that is great for people who don't have
20% saved up for a down payment or are trying to refinance above
an 80% LTV. Borrowers with credit scores as low as 620 are able
to utilize this loan and with rates as low or even lower than
conventional loans FHA Financing is very attractive. Both 15 and
30 year programs are available.
Multi-Family Financing
One Source
Mortgage offers many programs for Multi-Family Financing. This
program allows you to purchase or refinance an income producing
property, which will help you make your mortgage payments each
month. Some borrowers usually will start out buying a
multi-family home to live in and have the tenants pay for the
mortgage. Eventually down the road, they will keep that home
for rental purposes and purchase another home later on to live
in. We offer low down payment loans for both owner occupied and
investment loans.
Second
Homes
How about
that vacation home to get away to when you just need some time
away. One Source offers Second Home loans with low down
payments and flexible terms such as Fixed and Adjustable rate
programs.
Investment
Property
This
program allows you to purchase or refinance a rental home. The
tenants pay for your mortgage, you enjoy the benefits of
developing equity over the years and an investment property will
allow in some cases a tax write off. Many homeowners invest in
rental property for there retirement and to help them supplement
future retirement income. One Source has some very attractive
programs with as little or no money down programs even on
investment property if you qualify based on credit and income.
Land Loans
Land loans
are the perfect way to buy a piece of land now and build later.
With the rises prices of real estate in general, land has also
seen a dramatic increase in equity over the years. You may be
ready to build a new home now or maybe 2-3 years down the road.
One Source Mortgage can provide financing for land loans with
attractive terms and low down payments.
Construction Loans
Building a
new home? The home will not be ready for 6-12 months. Rates
are on the rise? We have the solution One Source Mortgage
offers many long-term lock programs that range from 90-450
days. You can take your time making sure the home of your
dreams is just right for you and not worry about rates going
up. We lock your rate in for you and your protected. With some
programs we even have a “float down” option that if rates do
fall while your locked in, you can float down to the lower
rate. We have attractive construction loan programs that can
help you with the financing to build that new dream home with
flexible terms and draw periods.
Commercial
Loans
One Source
understands the need for financing real estate outside of a
conventional loan. That’s why we offer commercial loans too.
Loans for residential or mixed units over 4 units, commercial
office buildings, restaurants or any type of real estate secured
financing. We offer attractive loans programs and even have
some with No Verification of Income or Assets if needed. Call
us today to find out about the “One Source Commercial Financing”
programs.
Condo
Conversion
The
nationwide appeal of condo conversions is hitting New England.
There is no large down payment requirement for these properties
and you will be able to enjoy a beautiful new condo at a
reasonable price.
Adult
Housing Communities (55+)
One Source
Mortgage can accommodate financing for the 55+ Adult Housing
Communities. We offer all types of financing from Fixed to low
adjustable rate programs. While many companies are not
financing these types of loans, One Source does!
Permanent
& Non-Permanent Resident Aliens
One Source
Mortgage offers many programs for borrowers who may not be U.S.
Citizens. If you’re a permanent resident alien with a green
card or a Non-Permanent Resident Alien and do not have the green
card, we can find a loan for you. We have many Fixed and
Adjustable Rate Programs and even have the One Source Portfolio
Loans that will fit these types of borrowers.
Foreign
National Programs
One Source recognizes the
importance of lending in a global community and that not all
borrowers meet the traditional residency qualifications.
Therefore we have come up with a plan that allows International
borrowers to buy any home in the United States they desire.
Jumbo Loan
Any loan amount above 417K.
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