Which Loan Do You Need?
- I have at least 5% for a down payment.
- I lack credit or only have a small amount for a down payment.
- I am a military veteran, spouse, or active service member.
- I have low-to-moderate income and want an affordable loan.
- I want to consolidate debt or take cash out of my home.
- I want to reduce my monthly payment, rate, or pay off my loan faster.
- I need a loan above the conforming limit
(greater than $647, 200). - I want to build a new house.
- I want to repair and improve my house (existing or purchase).
Union Capital Mortgage Loan Programs
Purchase Loans
Conventional Purchase Loan
Our goal is to give you the best conventional loan product and interest rate for your specific situation.
Union Capital Mortgage provides a variety of conventional fixed-rate and adjustable-rate loans. Whether you want to
refinance to lower your monthly payment, or purchase the house of your dreams, our mortgage loan officers are ready and
available to answer any of your questions!
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Fixed-Rate Mortgage:
- Your interest rate will be fixed for the life of the loan, so you won’t have to worry about rising interest rates.
- Your monthly payment can be made over a 15-, 20-, or 30-year period. A 30-year fixed-rate mortgage will have the lowest payment, because the loan is spread out over a longer period of time.
- With a fixed interest rate, your principal and interest payments do not change – only the amounts for your property taxes and homeowners insurance will go up or down during the life of the loan.
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Adjustable-Rate Mortgage (ARM):
- Your interest rate will be fixed for a period of 5, 7, or 10 years.
- After the initial fixed-rate, your interest rate may change annually. It can go up or down depending on the index rate and ARM margin (fixed amount added to the index to calculate your interest rate).
- In general, your interest rate cannot decrease lower than your margin, or increase more than 2% annually, or 5% over the life of the loan.
- This means your monthly payment can change annually after the initial fixed period.
FHA Loan
Flexible credit, down payment and underwriting requirements make this a great loan for buying a home or refinancing.
An FHA loan provides borrowers with an alternative to conventional financing. Union Capital Mortgage loan officers
assist in processing and approvingFHA loans in-house, we can close your purchase or refinance in as little as 2 weeks!
FHA Loan Guidelines:
- Buy a primary home with as little as 3.5% down.
- Refinance up to 97.75% of your primary home’s value.
- Flexible credit requirements – credit scores of 600 may qualify.
- A seller can contribute up to 6% of the sale price to the FHA home buyer.
- A parent or relative can be a non-occupying co-borrower on your loan.
Veterans Administration (VA) Loan
Are you a veteran, military member, or military spouse? If so, you could qualify for a VA loan.
Veterans can purchase a new home with no out-of-pocket money, refinance up to 100% of the home’s value, and never pay
monthly mortgage insurance. Union Capital Mortgage is a VA Automatic Lender, meaning we approve VA loans in-house. Our
mortgage loan officers have decades of experience assisting veterans – it would be our honor to help you obtain your VA
loan!
Buy a home with no money down – 0% down payment!:
- 15-, 20-, and 30-year fixed-rate available.
- 5-year ARM loans available.
- Jumbo VA loans available.
- Refinance up to 100% of your primary home’s value.
- VA Streamline Refinance (IRRRL) loans do not require an appraisal or credit underwriting – available for
veterans
- VA Streamline Refinance (IRRRL) loans do not require an appraisal or credit underwriting – available for
- currently in VA loans.
- No monthly mortgage insurance.
- VA loans are guaranteed by the U.S. Department of Veterans Affairs.
Low Down Payment Conventional Purchase Loan
We are dedicated to helping fund your dream home with low down payment options – as low as 3%.
Union Capital Mortgage loan officers have the expertise and variety of Low Down Payment Conventional purchase loans
required to help you choose the best loan product for your unique financial situation.
Jumbo Loans
Jumbo loans can provide financing (up to $3 million) for the purchase or refinance of luxury and high-end homes.
If you need a mortgage amount greater than $647,200, you may want to inquire about a jumbo loan. Union Capital Mortgage
loan officers have the expertise and variety of jumbo loans available to help you choose the best loan for your unique
financial situation.
Jumbo Loan Overview:
- Available for purchase and refinance transactions.
- Fixed-rate loan types including 15- and 30-year.
- ARM loan types including 5-, 7-, 10-, and 15-year ARM
- Offer maximum flexibility for financing “non-conforming” loan amounts (over $647,200)
- Union Capital Mortgage loan officers have access to a number of jumbo loan products that other lenders and traditional banks cannot offer
Refinancing Loan Options
Union Capital Mortgage loan officers can help you with more than just buying a home. Our mortgage loan officers are here to help you understand your refinancing options as well.
Cash Out Refinance Loan
This option allows you to pull cash from your home for things like home renovations and improvements, debt consolidation, or to make a large purchase.
Rate and Term Refinance Loan
This option allows you to refinance any remaining balance on your current mortgage loan in order to utilize newer interest rates or a shorter payment period.
Specialty Loans
Union Capital Mortgage loan officers can also help you with specialty loans.
Construction Loan
A construction loan is used for building a new home and all the costs associated with it. Union Capital Mortgage offers construction-to-permanent and owner-build construction loans. The payment plan for these loans are timeline based and borrowers initially make interest only payments until their renovation or construction project is complete.
Other construction loans:
- Construction-to-permanent loan
- Owner-build construction loan
- End loan options as necessary
Renovation and Rehabilitation Loans
These loans are used to upgrade an existing home or property. With these loans, the homeowner will be in charge of
managing the budget, plan, and payments to contractors.
Portfolio Loans
Union Capital Mortgage offers unique portfolio loans that are kept in-house instead of being sold to another company. Portfolio loans are a great option for self-employed individuals, high income/low credit score scenarios, and other situations that require nontraditional underwriting.
Lets Talk!
Ask us anything – our mortgage loan officers are here to guide you towards the best loan for your lifestyle and financial goals. Give us a call today at 440-585-5626, or fill out our contact form below!
Call Us Today!