Loan Options

Loan Options Near You in New York, New Jersey, Connecticut, Massachusetts, Pennsylvania, Florida & Tennessee

When looking for a mortgage to purchase or refinance a home, it’s essential to explore different types of mortgage loans to find the one that is best for you and your financial situation. A.S.A.P. Mortgage Corp. is a full-service brokerage firm with offices in the Mid-Hudson Valley region in New York, the NYC Metro area, and Florida. We work with families and individual homebuyers in many states, including New York, Connecticut, Florida, Massachusetts, Pennsylvania, New Jersey, and Tennessee. Learn more about the various types of mortgage loans we can help you access.

Couple looking on computer for types of mortgage loans

Purchase Mortgage Loans

At A.S.A.P. Mortgage Corp., we have a wide range of purchase mortgage loan options available to make your dream of homeownership a reality. We offer:

Fixed Rate Mortgage

A fixed-rate mortgage offers predictable monthly payments with an interest rate that remains constant for the life of the loan. This is often a popular choice for families and individuals seeking long-term, stable payments, providing predictable budgeting. These loans can have terms ranging from 10 to 30 years.

Federal Housing Administration (FHA) Loan

FHA loans are backed by the Federal Housing Administration and are designed for first-time homebuyers. They typically require smaller down payments and have more lenient requirements, such as lower credit scores. This helps to make homeownership more accessible for buyers with less-than-perfect credit.

Veterans Affairs (VA) Loan

VA loans are a powerful benefit for eligible veterans, active-duty service members, and surviving spouses. These types of loans often require no down payment, no private mortgage insurance (PMI), and offer competitive interest rates. VA loans offer flexible options with either fixed-rate or adjustable interest rates.

Rehab Loan

A rehab loan, also known as a renovation or 203(k) loan, allows you to finance both the purchase of a home and the cost of renovations in a single mortgage. This is an ideal choice for buyers seeking to purchase a fixer-upper and customize it to their needs.

U.S. Department of Agriculture (USDA) Loan

USDA loans are designed to help low-to moderate-income buyers purchase homes in eligible rural and suburban areas. These loans offer 100% financing, competitive interest rates, and reduced mortgage insurance costs.

Jumbo Loan

Jumbo loans are used to finance homes that exceed the conforming loan limits set by the Federal Housing Finance Agency (FHFA). These loans are ideal for high-value properties and typically require a strong credit score, a larger down payment, and additional income verification.

First-Time Home Buyer Loans

Our first-time home buyer loan programs are designed to make homeownership more affordable for those purchasing their first home. These programs often include lower down payment options, flexible credit requirements, and access to grants or assistance programs.

Low Down Payment Loan Options

We offer a variety of low-down payment loan options to help make buying a home more affordable. These include FHA loans, certain conventional loans, and state-specific assistance programs that reduce upfront costs for qualified buyers.

Vacation and Investment Property Programs

Are you looking to purchase a second home or vacation property? Our vacation and investment property loans are tailored for buyers interested in short-term rentals, vacation homes, or long-term investment properties. These types of loans offer flexible terms and competitive rates for qualified borrowers.

Non-Qualified Mortgage (Non-QM) Loans

Non-QM loans are designed for borrowers who don’t meet the strict income or documentation requirements of traditional mortgage programs. These flexible loan options are ideal for self-employed individuals, real estate investors, and those with unique financial profiles. A.S.A.P. Mortgage Corp. offers several types of non-QM loans, including bank statement and asset-depletion loans. They offer flexible underwriting, competitive rates, and faster closing, making them a smart choice for buyers with non-traditional income or investment goals.

Investor Loans

Investor loans are designed for individuals or businesses purchasing real estate for rental income or long-term investment purposes. These loans are structured to prioritize the property’s income potential rather than the borrower’s financials. A.S.A.P. Mortgage Corp. offers a variety of investor-friendly options, including debt service coverage ratio (DSCR) loans, fix-and-flip loans, short-term bridge loans, and portfolio loans.

Refinance Loans

Refinancing your mortgage can be a powerful tool for financial success – whether you’re looking to lower your monthly payments, tap into your home’s equity, or switch to a more favorable loan term. At A.S.A.P. Mortgage Corp., we help clients across multiple states find the right loan solutions for them. With expert guidance, our experienced mortgage specialists can help you explore a variety of types of mortgage loans and refinancing options.

Cash-out Refinance

A cash-out refinance allows you to replace your existing mortgage with a new one for more than you owe and take the difference in cash. This option is ideal for homeowners who want to use their home equity to fund renovations, pay off high-interest debt, or cover major expenses.

VA Loan Refinance

Eligible veterans and active-duty service members can take advantage of VA loan refinance options, including the VA interest rate reduction refinance loan (IRRRL) and VA cash-out refinance. These programs offer reduced rates, minimal paperwork, and the ability to access home equity, often with no out-of-pocket costs.

Home Equity Loans

A home equity loan allows you to borrow a lump sum against the equity you’ve built in your home, typically at a fixed interest rate. This is a great option for homeowners who want to budget for their monthly payments and a one-time payout for large expenses, such as improvements, education costs, or debt consolidation.

Explore Types of Mortgage Loans at A.S.A.P. Mortgage Corp.

Whether you’re buying your first home, refinancing your current mortgage, or investing in real estate, A.S.A.P. Mortgage Corp. is here for you. Our team of licensed mortgage specialists will guide you every step of the way. With years of experience and a deep understanding of local markets across multiple states, we specialize in helping families and first-time home buyers find the right mortgage loan for them. Contact us or call us today to learn more about the types of mortgage loans we offer.

FAQs About Types of Mortgage Loans

What are the best types of mortgage loans for a first-time homebuyer?

FHA loans and other low-down payment options are ideal for first-time homebuyers. Our team can help you find the right program that fits your financial situation and long-term goals.

Can I qualify for a mortgage if I’m self-employed?

Yes, we offer non-QM loans, such as bank statement and asset-depletion loans, which are ideal for self-employed borrowers and those with non-traditional income sources.

Do you offer mortgage loans near me?

We serve clients in several states, including New York, New Jersey, Connecticut, Massachusetts, Pennsylvania, Florida, and Tennessee.