Loan Types

  • Conventional

    A versatile loan option designed for a wide range of buyers. Conventional financing offers competitive terms, flexible property options, and is commonly used for primary homes, vacation homes, and investment properties.

  • FHA

    A flexible loan option designed to help more buyers achieve homeownership. FHA financing allows for more accommodating credit and income guidelines, making it a popular choice for first-time buyers or those looking for a more accessible path to purchasing a home. 

  • VA

    A powerful home financing benefit available to eligible veterans, active-duty service members, and certain military families. VA loans are designed to make homeownership more accessible while offering competitive terms and flexible qualifying option

  • USDA

    A unique loan program designed to support homeownership in eligible rural and suburban communities. USDA financing offers flexible qualifying guidelines and is a great option for buyers looking to purchase outside of major city centers

  • Refiance

    Refinancing allows homeowners to restructure their current mortgage to better fit their financial goals. Whether you’re looking to lower your payment, adjust your loan term, or access equity, refinancing can create new opportunities with your existing home loan.

  • Equity - HELOC/HELOAN

    Home equity financing allows homeowners to access the value they’ve built in their property. These options can provide flexible funds that may be used for home improvements, debt consolidation, investments, or other financial goals.

  • DSCR

    Designed specifically for real estate investors, DSCR loans focus on the income potential of the property rather than traditional personal income documentation. This can make it easier for investors to grow and manage their rental property portfolios

  • Bank Statement Loan

    A financing option created with self-employed borrowers and business owners in mind. Bank statement loans allow income to be evaluated using business or personal deposits rather than traditional tax return documentation.

  • Land Loan

    Land loans help buyers finance the purchase of undeveloped or vacant land. These loans can be used for future home construction, investment opportunities, or securing property for long-term plans

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Wichita, KS - Conventional Loan

KEY WORDS

  • A temporary financing strategy that lowers the interest rate during the first two years of the loan, helping make the initial monthly payments more manageable

  • The schedule that shows how your mortgage payments are applied over time to both the loan balance and interest

  • A professional evaluation used to determine a home’s market value to ensure the property supports the loan amount. Health and Safety requirements might apply.

  • The final step of the homebuying process where loan documents are signed, funds are distributed, and ownership of the home is officially transferred.

  • A document that provides the final details of your mortgage loan, including the loan terms, monthly payment, and closing costs before closing day.

  • A calculation that compares your monthly debts plus your housing payment to your income to determine how much home you may qualify for

  • The portion of the home’s purchase price that the buyer pays upfront; this amount varies based on loan type and other qualifications.

  • Funds held by a title company or brokerage during the transaction to show the buyer’s commitment to purchasing the property.

  • A legal document that transfers ownership of a property from the seller to the buyer and is recorded with the local county once the home purchase is complete. 

  • The portion of your home that you truly own — calculated by taking the home’s value and subtracting the remaining balance on your mortgage.

  • An account where funds for property taxes and homeowners insurance are held and paid on your behalf as part of your monthly mortgage payment. 

  • A professional evaluation of a home’s condition that helps identify potential issues before completing the purchase.

  • Insurance coverage that protects your home and belongings from damage or loss caused by events like fire, storms, or other unexpected situations.

  • The percentage charged on the loan amount that determines how much it costs to borrow money for your home.

  • A type of loan used to finance the purchase of a home, where the property secures the loan until it is fully repaid. 

  • Taxes assessed by the local government based on the value of your property, often included in your monthly mortgage payment through escrow.

  • A step in the homebuying process where a lender reviews your income, credit, and assets to determine how much you may qualify to borrow before you start shopping for a home.

  • Insurance that may be required on some loans when the down payment is smaller, helping protect the lender while allowing buyers to purchase with less money down.

  • A licensed professional who helps guide buyers and sellers through the process of purchasing or selling a home. 

  • A neutral third party that helps manage the closing process, verifies property ownership, and ensures the transfer of the home is handled correctly.

  • Insurance that protects homeowners and lenders against potential ownership disputes or legal claims related to the property’s title. 

  • The step in the loan process where the lender reviews your financial information and property details to make the final loan approval decision.

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