Complete Mortgage
Solutions
Directors Mortgage offers the main categories of mortgage types including conventional, FHA, VA, USDA, jumbo, reverse, non-QM, HELOCs, and portfolio loans. Learn more about some of the distinguishing features of these loan types and solutions from Directors Mortgage. And when your ready, let’s connect to get a better idea about what type of loan solution and personalized loan structure will fit your specific needs and goals.
Conventional or Conforming Loan
With good credit and stable income, conventional loan programs typically offer more options for the borrower.
- Max loan amount is $766,550 for a 1-unit property (may be higher in high-cost areas)
- Down payment options may range from 3% to 20%+
- 2% – 9% seller concessions allowed
- Flexible terms, 10 yr, 15yr, 20yr, 30yr
- Up to 4 units per property
FHA Loan
Designed to help low- to moderate-income families with homeownership.
- 100% of the down payment can be gifted
- 0% down payment available when combined with Chenoa Fund Grant or amortized 2nd*
- Rehab loans available (FHA 203K)
*Borrower must meet Chenoa Fund Requirements
VA Loan
- Provides affordable mortgage financing for eligible service members
- 0% down payment up to $1M loan amount
- No processing or underwriting fees
- No private mortgage insurance (PMI)
- Variety of eligible property types
Jumbo Loan
Options for clients who may need a loan amount over the conventional limit of $766,550.
- Loan amounts up to $3m (case-by-case for $3m+)
- Primary residences, 2nd homes, rental properties
Reverse Mortgage***
Turn your home equity into cash, a line of credit, or regular monthly payments that may enhance your retirement.
- Borrower must be 62+ years old
- Primary residence only
- Eliminate monthly mortgage payments***
USDA Loan
Affordable financing for properties in designated rural areas
- Finance up to 100% of the appraised value
- Lower credit score requirements
- Ability to use gift funds for closing costs
Portfolio Options
Short-term options to close quickly without contingencies.
- Bridge loans
- Transition loans
- Compete with Cash Program
Brokered Options
For unique financial situations and commercial loan needs.
- Commercial buildings
- Small retail space
- Mixed-use buildings
- Residential with 5+ units
Non-Qualified Income Mortgages (Non-QM)
Non-QM loan solutions for unique situations.
- Bank statement loans
- Asset-based loans
- Debt Service Coverage Ratio (DSCR) loans
- Alternative income
- ITIN
Home Equity Line of Credit (HELOC)
Credit line secured by your home’s equity. Typically used for home improvement, debt consolidation, down payment for purchase of another property, or other expenses.
- Standalone 2nd
- Primary residence
- Investment property
- Single family residence, warrantable condo, townhome, planned unit development
Down Payment Assistance (DPA) Programs
Down payment assistance for eligible homebuyers.
- FHA, VA, USDA, Golden State Finance Authority
- Essex National DPA
- FAHE Springboard National DPA
- Arizona Home Plus
- Arizona Home in Five
- California CalHFA MyHome Assistance
- Colorado Housing Finance (CHFA)
- Oregon Housing and Community Services (OHCS)
- Washington Bond
You Get Peace of Mind
With a Proven Mortgage Expert
As experts solely focused on mortgages for our clients, you can lean on us to find the right mortgage for you. Let’s connect to find out what type of loan and customizations may fit your specific homeownership needs and goals.
***Consult your tax advisor or financial advisor for tax advice. These materials are not from HUD or FHA and were not approved by HUD, FHA or a government agency. At the conclusion of the term of the reverse mortgage loan contract, some or all of the equity in the property that is the subject of the reverse mortgage no longer belongs to the person and the person may need to sell or transfer the property to repay the proceeds of the reverse mortgage from the proceeds of the sale or transfer or the person must otherwise repay the reverse mortgage with interest from the person’s other assets. Lender will charge applicable fees which may include, but are not limited to, an origination fee, a mortgage insurance premium, closing costs and servicing fees for the reverse mortgage, all or any of which the lender will add to the balance of the reverse mortgage loan. The balance of the reverse mortgage loan grows over time and the lender charges interest on the outstanding loan balance. The person retains the title to the property that is the subject of the reverse mortgage until the person sells or transfers the property and is therefore responsible for paying property taxes, insurance, maintenance and related taxes. Failing to pay these amounts may cause the reverse mortgage loan to become due immediately. Interest on a reverse mortgage is not deductible from the person’s income tax return until the person repays all or part of the reverse mortgage loan.