Conventional money
Old-fashioned fund, also called conforming funds, are mortgages one to comply with the standards and you may advice place by the regulators-paid companies such as for example Federal national mortgage association and you can Freddie Mac computer. He or she is restricted to an optimum amount borrowed from $726,2 hundred (or as high as $1,089,300 in certain high-pricing locations). Guild Financial also offers fifteen-season and you can 30-seasons fixed-rate old-fashioned fund which have down-payment solutions of 5% in order to 20%.
it has the benefit of traditional adjustable-rates mortgage loans which have repaired symptoms of five, eight or 10 years. Guild’s conventional financing choices become HomeReady mortgage loans – being offered to individuals and you can parents having reasonable-to-moderate income – or over to 97% financial support getting basic-big date home buyers.
Jumbo money
Jumbo funds try mortgages you to meet or exceed the mortgage limitation lay by the Fannie mae and you may Freddie Mac. Guild Mortgage also offers jumbo funds that will rise in order to $3 million, based state constraints. This type of fund are going to be fixed-rate otherwise variable-rate, and need a credit rating of 700 and you can good credit record. Rates of interest and you can yearly percent are different centered on mortgage terms and kind out of financing.
FHA money
FHA fund try backed by brand new Government Casing Government and are usually designed to let home buyers that have limited income minimizing credit score. Guild Financial even offers FHA loans to own domestic commands and you may refinancing that have downpayment choice as low as step 3.5% for those which have qualifying fico scores (credit ratings less than 580 require 10% down). A minimum credit rating regarding 540 is necessary for Guild Mortgage’s FHA money.
Link funds
Connection fund are small-name money designed to help link brand new pit between to get a beneficial new home and promoting your current you to definitely. These loans enable it to be consumers and come up with a non-contingent provide on the a house and make use of this new bridge mortgage to funds the acquisition up to they can promote its existing family. A bridge loan is just meant to give a temporary services up until significantly more long lasting money is created or your current mortgage normally be distributed of.
Guild Home loan also provides connection financing anywhere between $forty,000 and $300,000. The borrowed funds is only able to be used to suit your current primary house and has an optimum 6-day identity. Guild Mortgage’s bridge finance commonly already offered in Colorado.
Energy-efficient mortgages
Guild Financial has the benefit of many energy-productive mortgage loans, which can be built to let individuals finance time-saving improvements so you’re able to existing belongings otherwise freshly-constructed residential property. Such finance help you pass on the cost of opportunity-successful improvements across the life of your own financial so that you find the money for generate eco-amicable improvements rather than straining your allowance.
Energy-successful mortgages are used for numerous advancements and you will upgrades, such as for instance updating the power show regarding devices and you may accessories, improving screen and insulation, otherwise updating your house’s hvac assistance. Listed below are a few of Guild Mortgage’s opportunity-productive mortgage programs:
- Virtual assistant Energy saving Financial: This method exists to have pros, energetic armed forces team and you will thriving spouses by way of an excellent Virtual assistant home loan. It can be utilized to invest in around $6,000 from inside the qualified times-successful improvements, together with upgrades to help you heating and cooling solutions, steam barriers and you may insulation.
- GreenS: Will bring options to funds to 5% of residence’s appraised really worth getting opportunity-preserving keeps and you will updates using an enthusiastic FHA loan. Eligible software advancements is fridges, washing machines and you will dryers, dishwashers and you can wise thermostats.
- FHA Solar no credit check payday loans in Tuscumbia power: This choice makes you bundle the cost of solar pv time systems (solar power systems) into the FHA loan. The application form exists both for commands and you can refinances. Approved borrowers are able to put up the latest solar energy panels inside 90-120 times of the fresh closing.