205.994.6050

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      Home Purchase Loans

      There are so many types of mortgage loans for home purchases that it can be overwhelming trying to determine the best option for your home purchase. Most purchasers think they want a conventional loan but we often find that they may qualify for an FHA, VA or USDA loan resulting in a more optimal payment or interest rate. The best way to find the best interest rate and mortgage product to purchase a new home is to talk to a Benchmark Mortgage Specialist  We  will evaluate your goals and your financial situation to determine the best way to meet your needs. Give us a call at 205.994.605.

      Conventional Loans

      • Requires a minimum 5.00% down- payment
      • Single premium PMI with less than 20% down-payment
      • Fixed or adjustable interest rates
      • 10 – 30 year repayment terms
      • Seller paid closing costs allowed
      • Great choice for high credit score borrowers
      • Learn more

      Veterans’ (VA) Loans

      • Generally requires no down-payment and no mortgage insurance (MI)
      • Interest rates comparable to conventional
      • Seller paid closing costs allowed
      • Life benefit and multiple VA loans are allowed
      • Learn more

      FHA Loans

      • Minimum down-payment of 3.500%
      • Lower credit scores allowed
      • Higher DTI borrowers may qualify
      • Seller paid closing costs allowed
      • Options include detached and attached
      • Learn more

       

      Manufactured Housing

      • Double wide or larger manufactured after June 1978
      • Must be in original location and on a permanent foundation
      • Engineer certification required
      • Titles surrendered and converted to real property
      • Seller paid closing costs allowed
      • Learn more 

       

      Jumbo Loans

      • Higher loan limit
      • Fixed and adjustable rates
      • No private mortgage insurance (PMI)
      • 15 and 30 year terms
      • Seller paid closing costs not to exceed 2.00%
      • Luxury and vacation homes
      • Learn more

      USDA Loans

      • No down-payment
      • Seller paid closing costs up to 4.00%
      • Restrictions on income and geographic location
      • USDA refinance for USDA loans
      • Seller paid closing costs allowed
      • Learn more

      Construction Perm

      • Excellent credit required
      • One-time closing
      • Builder must be approve
      • Interest only rates in building phase
      • 9 and 12 month construction terms
      • Learn more

       

       

       

      Investment Property

      • Requires 20% down-payment
      • No PMI
      • 10 – 30 year terms
      • Fixed or adjustable interest rates
      • Seller paid closing costs allowed
      • Learn more

      Refinance Loans

      • Cash-out refinance
      • Debt consolidation refinance
      • Rate and term refinance
      • Renovation refinance
      • Conventional, FHA, VA and USDA
      • Learn more

      Benchmark Mortgage Southeast Partners | 100 Concourse Pkwy Suite 130 | Hoover AL 35244 | 205.994.6052

      @2020 Ark-La-Tex Financial Services LLC, NMLS# 2143, dba Benchmark Mortgage | NMLS Consumer Access