Loan Programs

Conventional Home Loans

Conventional or conforming loans refer to any mortgage that is not insured by the federal government. These types of mortgages follow the terms and conditions set by Fannie Mae and Freddie Mac. They are government sponsored institutions who are the largest purchasers of mortgages in the United States. These loans have stricter qualifying guidelines compared to government insured loans.

High credit scores are recommended for this program since it will directly impact your monthly mortgage payment. Your debt to income ratio is also carefully reviewed and needs to be below 45%. A common misconception about conventional mortgages is that a 20% down payment is required in order to qualify. The reality is conventional financing allows for 3% down payment when used in combination with monthly mortgage insurance.

VA Home Loans

If you are a veteran, active military member or a spouse of a deceased veteran, you may be eligible to purchase a home or refinance with a VA Loan. This loan program comes with many benefits over a conventional mortgage and it’s designed to help those who have served our country achieve homeownership.

The most attractive benefit of The VA program is it allows veterans to purchase a home with no down payment and 100% financing. In addition to this monthly mortgage insurance is not required which makes the VA program one of the most affordable options available. If a veteran is already on a VA loan they can take advantage of a reduced documentation refinance by using the streamline program to lower their payments.

FHA Home Loans

An FHA loan allows borrowers to buy a home or refinance with less strict financial requirements. If you have a lower credit score, debt, or even a past bankruptcy you may be able to qualify for an FHA mortgage. FHA loans are government back by the Federal Housing Administration.

Renovation Home Loans

A renovation loan is a mortgage that allows you to buy or refinance a home that needs work and roll the renovation costs into the loan amount. A renovation loan gives homebuyers and homeowners the funds to make necessary or desirable renovations to a home or access the credit to make those changes.

Refinance

There are many reasons for a homeowner to consider refinancing their current mortgage. Waymaker Mortgage can help you determine if your refinance goals can be met and what benefits you can take advantage of by switching to a new mortgage.

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833.WAYMAKR (929.6257)

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605 River Bend, Ste. 100

Georgetown, TX 78626

Waymaker Mortgage and The Scottie Campbell Mortgage Team are a division of Groves Capital, Inc.

Company NMLS # 1678775

© Copyright 2021 Waymaker Mortgage | (www.nmlsconsumeraccess.org) | Terms, conditions, and restrictions may apply. Loan products are subject to availability and credit approval. Not a commitment to extending credit. Hometown Lenders USA AZ BK-0949142. Licensed by the Department of Corporations under the California Department of Financial Protections & Innovation. Company License # 41DBO60614. | Mortgage Company Complaint

Hometown Lenders is licensed under the laws of the State of Texas and by state law is subject to regulatory oversight by the Texas Department of Banking

Texas Mortgage Banker Disclosure – Figure: 7 TAC 81.200(c) “CONSUMERS WISHING TO FILE A COMPLAINT AGAINST A MORTGAGE BANKER OR A LICENSED MORTGAGE BANKER RESIDENTIAL MORTGAGE LOAN ORIGINATOR SHOULD COMPLETE AND SEND A COMPLAINT FORM TO THE TEXAS DEPARTMENT OF SAVINGS AND MORTGAGE LENDING, 2601 NORTH LAMAR, SUITE 201, AUSTIN, TEXAS 78705. COMPLAINT FORMS AND INSTRUCTIONS MAY BE OBTAINED FROM THE DEPARTMENT’S WEBSITE AT WWW.SML.TEXAS.GOV. A TOLL-FREE CONSUMER HOTLINE IS AVAILABLE AT 1-877-276-5550. THE DEPARTMENT MAINTAINS A RECOVERY FUND TO MAKE PAYMENTS OF CERTAIN ACTUAL OUT OF POCKET DAMAGES SUSTAINED BY BORROWERS CAUSED BY ACTS OF LICENSED MORTGAGE BANKER RESIDENTIAL MORTGAGE LOAN ORIGINATORS. A WRITTEN APPLICATION FOR REIMBURSEMENT FROM THE RECOVERY FUND MUST BE FILED WITH AND INVESTIGATED BY THE DEPARTMENT PRIOR TO THE PAYMENT OF A CLAIM. FOR MORE INFORMATION ABOUT THE RECOVERY FUND, PLEASE CONSULT THE DEPARTMENT’S WEBSITE AT WWW.SML.TEXAS.GOV.”

205 ILCS 635/2-9 Posting of license

The license of a licensee whose home office is within the State of Illinois or of an out-of-state licensee shall be conspicuously posted in every office of the licensee located in Illinois. Out-of-state licensees without an Illinois office shall produce the license upon request. Licensees originating loans on the Internet shall post on their Internet website their license number and the address and telephone number of the Commissioner. The license shall state the full name and address of the licensee. The license shall not be transferable or assignable. A separate certificate shall be issued for posting in each full-service Illinois office.

Licensee shall post on their internet web site the address and telephone number of the IDFPR. James R. Thompson Center

IDFPR-Residential Mortgage Banking

100 W. Randolph, 9th Floor

Chicago, Illinois, 60601

Tel: (844) 768-1713