Popular Loan Programs offered at Blueberry Mortgage

• Home Improvement Loans
• Conventional Loan Programs
• Federal Housing Administration Loans (F.H.A)
• Second Trust Deeds
• Veteran Administration Loans (V.A.)
• Super Jumbo Loans
• First Time Homebuyer Loans
• Recent Foreclosure or Bankruptcy Loans
• Jumbo Loans
• Equity Loans-HELOC (Home Equity Line of Credit)
• Non-Owner Occupied Loans
• Loans on investment Properties
• Multi-Unit Loans
• Sub-prime Loans
• CAL-VET Loans
• Easy Qualifier Loans
• Construction Loans
• No Fico Score Program
• Mortgage Only Program
• Score Only Program
• Option Arm Loans

Adjustable Rate Mortgage
An Adjustable Rate Mortgage is a highly viable loan program for homebuyers looking for a low interest rate and monthly payment. It is common for most homeowners stay in their homes for only 5-7 years, the 3/5/ or 7-Year ARMs are excellent loan options for many borrowers.  Borrowers can also have adjustable rate mortgages amortized over 40 years or interest only options. You can also ask us about the option ARM product where you have an option as to how much you want to pay! 

15yr, 30yr, 40 Year Fixed Programs
Borrowers that are going to be in their homes for quite some time or plan on paying off large chunks of their mortgage tend to choose 15 to 30 year programs. These fixed programs have steady payments that amortize over their designated life.  A new payment method offered by the banks is the 40 year program.  It offers borrowers a lower monthly payment than the 30 year fix due to it being amortized over 40 years. It will save you money today if this is what you are searching for. 

Short Term Fixed Rate
You can get yourself a very aggressive fixed rate on a 3- or a 5-Year Fixed, making this a viable and attractive loan option for many buyers. If you are going to be moving in the next 3 to 5 years, a Short Term Fixed could be very effective in accomplishing the objective in the stability of a Fixed Rate but at a very low level.  If the loan goes adjustable you have either moved on or can possibly refinance again.

Balloon Loans
A Balloon Loan is a mortgage in which your monthly payment is not intended to repay the entire loan. The final payment is a large lump sum of the remaining principal. It comes with a lower fixed rate, but the rate will usually expire after a period of years in which the borrower can then refinance.

Bridge Loans
Bridge Loans, also referred to as Interim Loans, are short term financing loans used to provide immediate funds until long term financing can be obtained.
These loans essentially "bridge" the gap between the purchase of a new home and the sale of the borrower's current home. Some are structured so they completely pay off the old home's first mortgage at the Bridge Loan's closing, while others pile the new debt on top of the old. They usually run for a term of 3 to 6 months and sometimes up to a year.

FHA Loans

Flexibility
FHA loans are not score driven. Instead, they are written in a way that provides a borrower the benefit of the doubt that there had been, at some point in their past, circumstances beyond their control, and as long as the borrower has recovered from those circumstances in a reasonable manner, they're generally going to be credit-eligible for an FHA loan.

Good Rates and Low MI
A distinct advantage of an FHA insured loan, as compared to a conforming loan, is great interest rates and lower monthly mortgage insurance (MI). Depending on the program, standard FHA loan interest rates are usually better than a conforming 30-Year Fixed loan.

Lowest Adjustment Caps
FHA guidelines give you the option of doing hybrid Adjustable Rate Mortgages (ARM), including a 3/1 ARM and a one year ARM that has the lowest adjustment caps of any ARM in the industry.

Property Types Allowed
While FHA Guidelines do require that the property be Owner Occupied (OO), they do allow you to purchase condos, planned unit developments, manufactured homes, and 1–4 family residences, in which the borrower intends to occupy one part of the multi-unit residence.

Assumable Loans
One of the most salient advantages of an FHA loan is the ability for the loan to be assumed. This gives the buyer a significant advantage in a high interest rate market. FHA loans are eligible for streamlined refinance, a program HUD offers that allows the borrower to easily refinance the loan to reduce their interest rate and lower their monthly payment.

Interest Only

Is this for you?
Would a lower monthly payment allow you to:

• Save for college
• Increase the value of your home
• Invest in your retirement or IRA
• Pay down other outstanding loan amounts
  Are you someone whose income fluctuates seasonally? Would you like ability to be able to minimize your monthly payment yet still have the option of paying down principle later?  These programs are offered in some of these programs; 2yr, 3yr, 5yr, 30yr fixed rate programs.

  Second Mortgage Loan
  Some buyers will get a second mortgage if they cannot obtain enough of a loan from the first mortgage or if they can qualify for better terms on the first mortgage by obtaining a smaller second mortgage.
  Unlike refinancing, the second mortgage does not supersede the first mortgage. Second mortgages are usually 15-to 30-year loans with a fixed rate of interest.

  Each borrower is unique and therefore needs to determine the right loan which best their particular situation. Ask one of our experts about the different loan options available.