Traditional money
Conventional financing, also referred to as compliant loans, is actually mortgages that conform to the standards and guidance set by the bodies-paid enterprises such as for instance Fannie mae and Freddie Mac computer. He is simply for a maximum loan amount of $726,2 hundred (or all the way to $step 1,089,3 hundred in a few higher-cost towns). Guild Home loan also offers 15-season and 30-year fixed-price conventional fund which have advance payment options off 5% to 20%.
it also provides conventional adjustable-speed mortgage loans that have fixed attacks of five, seven or a decade. Guild’s traditional mortgage products tend to be HomeReady mortgage loans – which can be accessible to anybody and you can household having lowest-to-reasonable income – or more so you can 97% funding to possess first-date homebuyers.
Jumbo loans
Jumbo loans try mortgage loans you to definitely meet or exceed the mortgage restriction put from the Federal national mortgage association and you can Freddie Mac computer. Guild Mortgage also provides jumbo money that can rise in order to $3 mil, based state restrictions. These fund shall be fixed-price or adjustable-rates, and need a credit history off 700 and you will good credit record. Interest levels and you may annual proportions vary centered on loan conditions and kind out of loan.
FHA money
FHA loans was backed by the newest Federal Housing Government and are generally made to help home buyers that have limited incomes minimizing credit results. Guild Financial also provides FHA loans for house instructions and refinancing with down-payment options as little as 3.5% for those which have qualifying credit ratings (fico scores less than 580 need 10% down). At least credit score of 540 required having Guild Mortgage’s FHA finance.
Connection fund
Link funds was short-identity funds built to assist bridge the newest pit anywhere between to find a new home and you can promoting your one. This type of fund ensure it is borrowers making a non-contingent provide towards the property and make use of the fresh connection mortgage to funds the acquisition up until they could sell its existing family. A connection mortgage is designed to promote a short-term services until even more permanent financing is done otherwise your existing home loan can be be distributed off.
Guild Mortgage even offers bridge funds ranging from $forty,000 and you may $3 hundred,000. The borrowed funds can just only be taken to suit your latest first residence possesses a max 6-month title. Guild Mortgage’s connection finance aren’t already available in Texas.
Energy-successful mortgages
Guild Financial even offers many opportunity-successful mortgage loans, which are made to help individuals funds times-rescuing developments so you’re able to current homes otherwise newly-constructed land. Such financing make it easier to pass on the expense of time-productive upgrades along side life of the home loan which sites means you have enough money for build environmentally-friendly advancements instead pushing your financial allowance.
Energy-productive mortgage loans are used for numerous developments and you will upgrades, such as upgrading the energy show away from devices and you will fittings, boosting window and you may insulation, or updating your house’s hvac solutions. The following are several of Guild Mortgage’s time-productive mortgage software:
- Virtual assistant Energy saving Financial: This choice is present having veterans, energetic army professionals and you can surviving spouses as a result of good Va mortgage. You can use it to invest in around $6,000 into the qualified times-efficient improvements, and additionally upgrades so you can cooling and heating options, vapor barriers and you may insulation.
- GreenS: Provides options to financing to 5% of the house’s appraised well worth getting times-protecting provides and you can upgrades using an enthusiastic FHA mortgage. Eligible device advancements become refrigerators, automatic washers and dryers, dishwashers and you may smart thermostats.
- FHA Solar power: This program enables you to package the price of solar pv opportunity possibilities (solar panel systems) in the FHA mortgage. The applying is available for both requests and you may refinances. Acknowledged borrowers can build new solar power panels inside 90-120 days of the closure.