Michigan – California – Indiana – Texas Mortgages | Loan Refinancing
Call Me: (248) 980-5533

Mortgages | California – Indiana – Michigan – Texas

Mortgages in California – Indiana – Michigan – Texas

Mortgage Products and Expertise
Huron Valley Financial offers a versatile array of loan programs, including:

  • Conventional Loans
  • FHA
  • FHA 203(k) Loans
  • VA
  • USDA, Rural Development
  • Debt Consolidation / Cash out Loans
  • Reverse Mortgages
  • HARP Mortgage Programs
  • HomePath Financing
  • Jumbo Mortgages
  • Construction Loans
  • Doctor Advantage Loans
Conventional Loans / Mortgages
Conventional Loans are not insured or guaranteed by the government – instead, they follow guidelines set by Fannie Mae and Freddie Mac. You may be able to qualify for a conforming loan with as little as 3% down payment. If you’re looking to leverage the equity in your home, conforming loans will also lend up to 85% of your home’s value. The maximum limit for a conforming loan depends on the county and state you live in and can be found here: https://www.fanniemae.com/singlefamily/loan-limits Contact me today for more details!

Federal Housing Administration – FHA
FHA (Federal Housing Administration) loans are insured by a government agency with the US Department of Housing and Urban Development. These loans have been gaining popularity over the last few years.. with attractive interest rates, and more flexible qualification requirements, FHA may be a perfect fit for you too! FHA loans require as little as 3.5% down payment, and will also lend up to 85% of your home’s value. If you are currently in a FHA loan, you may be eligible to lower your current rate with an FHA Streamline Mortgage. The Streamline process allows you to refinance without an appraisal, and with limited documentation. Contact me today for more details!

203K Loan
FHA also offers a special loan called the FHA 203K Loan. This loan is designed to help buyers purchase homes that are in need of repairs. This type of financing covers the cost of the home, as well as additional necessary home repairs. The loan amount is based on the projected value after the repairs are completed – not the traditional approach, of current appraised value. Contact me today for more details!

VA Loan
If you are a veteran, and looking to purchase a home with no money down, a VA mortgage might be perfect for you. One additional bonus.. no private mortgage insurance is required. VA also offers help to veterans looking to refinance for a lower rate. The program is called IRRRL (Interest Rate Reduction Refinancing Loan), and it allows veterans to refinance at little or no expense to them. For additional information, you can visit valoans.com. Contact me today for more details!

USDA / Rural Development Loan
A USDA loan (also called Rural Development Loan “RD”) is another type of financing insured by the government. RD loans allow buyers to purchase a home with NO money down. The program provides 100% financing to qualified buyers, and allows for all closing costs to be either paid for by seller or financed into the loan. To see more information regarding eligibility for USDA financing, visit http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do. Contact me today for more details!

Debt Consolidation / Cash-Out Loan
If you owe less than what your house is worth, you may want to consider a debt consolidation or cash-out loan. With either type of loan, you refinance your mortgage for more than you currently owe, then take the left over funds to either consolidate other debt you may currently owe.. or leverage the funds for home improvements, purchasing a 2nd or vacation home, etc. Contact me today for more details!

FHA Reverse Mortgage / Home Equity Conversion Mortgage
Are you 62 or older? Do you live in your home? Do you own your house free and clear, or have equity in your home. If you can answer “yes” to all of these questions, then a FHA Reverse Mortgage (also known as a Home Equity Conversion Mortgage (HECM)) might be right for you. A Reverse mortgage is a very special type of loan that lets you convert a portion of your equity into cash. One unique difference is, unlike a traditional home equity loan or second mortgage, HECM borrowers do not have to repay the HECM loan until the borrowers no longer use the home as their principal residence or fail to meet the obligations of the mortgage. You are also required to receive consumer information free or at very low cost from a HECM counselor prior to obtaining the loan. You can find a HECM counselor online or by phoning (800) 569-4287.
(*HECM counselor online link: https://entp.hud.gov/idapp/html/hecm_agency_look.cfm)

Non-Traditional Mortgage Financing
If you are looking to refinance, but haven’t been able to qualify for traditional financing because the value of your home has declined (or you currently owe more on your mortgage balance than you think your house would appraise for), you many qualify for HARP (Home Affordable Refinance Program). You may be eligible for HARP if you meet all of the following requirements:

  • The mortgage must be owned or guaranteed by Fannie Mae or Freddie Mac
  • The mortgage must have been sold to Fannie or Freddie on or before May 31, 2009
  • The mortgage cannot have been refinanced under HARP previously
To see if your home is owned/guaranteed by Fannie Mae, visit https://www.knowyouroptions.com/loanlookup
To see if your home is owned/guaranteed by Freddie Mac, visit https://ww3.freddiemac.com/corporate/
Call me today for more details!

HomePath financing, available only on Fannie Mae owned properties, offers some awesome benefits:

  • Your down payment can be as little as 3% of the purchase price
  • No mortgage insurance
  • No lender requested appraisal
  • Available for owner-occupied or investment properties

One thing to note, since the lender will not require an appraisal.. make sure you have the property inspected, so you understand the condition of the property. Be sure to ask your agent if your property is eligible. To search for a HomePath property, visit http://www.homepath.com/
Contact me today for more details!

A loan is considered Jumbo if it exceeds current conforming loan limits. Typically these loans require larger down payments, higher reserves, higher credit scores, and lower debt-to-income ratios. Jumbo loans will have stricter underwriting requirements than standard conventional financing. Contact me today for more details!

Construction Loans:
We want to help you build the home of your dreams.. and walk you through every step of the process—one brick at a time. Let our experience and flexible financing do the work for you. This program is for borrowers interested in buying a home to be built in a development… or building a custom home from the ground up. Our construction loan gives the borrower the convenience of two separate loans: one to finance the construction of the home.. and one to act as the permanent loan when the building process is completed. Contact me today for more details!

Doctors Advantage Loan:
We understand the financial challenges associated with being a new physician or resident with medical school debt. Our Doctor Loan provides qualified physicians and residents a no money down.. no PMI loan. This program is available for medical doctors who have a minimum of a MD, DO, DDS or DMD degree and an employment contract or verification of terms of employment acceptance (*Dentists, Podiatrists, Ophthalmologists, and Veterinarians are permitted). This unique loan allows medical residents and practicing physicians the opportunity to enjoy low rates and exceptional lending terms. Contact me today for more details!