Purchase Loan Programs

FHA Loans

fha loans, fha home loans

Home ownership is still a significant part of the “American dream.”  FHA loans —and Oaktree Funding mortgage professionals — can make that dream a reality. We have helped thousands of families get the right loan for their dream home.

Did you know that mortgage companies must prove financial stability through extensive annual audits in order to offer FHA loans? FHA providers are also required to follow strict rules that protect the customer and ensure equal housing opportunities. Oaktree Funding is proud to have consistently met these guidelines and requirements, ensuring our customers our loans are insured.

In addition, our mortgage professionals pride themselves on their knowledge of the mortgage industry. They believe in presenting clients to underwriters and loan processors as more than just a credit score and set of numbers. No matter what loan program you’re applying for, Oaktree Funding’s loan officers will work hard to help you become a homeowner.

What is an FHA Loan?

The Federal Housing Administration (FHA) was established in 1934 to help lower-income families purchase homes. An FHA Loan is a government-guaranteed loan that provides a borrower (often a first time home buyer) with a better lower interest-rate loan. This can save home buyers a significant amount of money. The FHA Loan has many advantages to the borrower. For example:

    • Flexible underwriting and more relaxed guidelines make this type of loan easier to obtain.
    • FHA loans typically have lower payments and a fixed interest rate.
    • FHA loans have no pre-payment penalties.
    • If you are a first-time home buyer, you might qualify for additional government assistance or grant money.

Finding the Right Loan for You

If you think an FHA Loan may pave the way to home ownership for you, Oaktree Funding can help. We will evaluate your needs and make sure that the FHA Loan is the right fit for you. Call today for a free consultation with our mortgage specialists. We don’t just get you a loan — we make sure you are getting the right loan.

VA Loans

va loans, va home loan, va housing

Oaktree Funding is proud to serve the military community. We value the continual sacrifice and hard work servicemen and servicewomen devote to our nation. If you are a U.S. military veteran and need a home loan, please consider Oaktree Funding. We are honored to have the opportunity to assist you and your family with your home loan needs.

Oaktree Funding is approved for participation in the VA Home Loan Program. Mortgage companies are required to maintain high standards in order to issue VA loans. If you are considering buying a house with a VA Loan, contact Oaktee Funding and allow one of our mortgage specialists to assist you in the process of obtaining your loan.

What Is a VA Loan?

The VA Loan Program was created by the Veteran’s Administration to support the financing needs of U.S. Military veterans and their spouses. VA loans have helped many military families unable to qualify for other loan products.

Advantages of a VA loan

A VA loan is one of the only loan programs that still allows borrowers to finance 100% of the purchase price, up to $417,000, with $0 down. When compared with conventional loans requiring 5% of the purchase price as a down payment (and FHA loans requiring 3.5% for a down payment), it is not difficult to understand how qualifying for a VA loan can present a valuable opportunity.  In addition, VA loans do not require private mortgage insurance (PMI) and have more relaxed credit qualifications than conventional loans.

VA Loan Qualifications

Veterans and surviving spouses of veterans who lost their lives during service or as result of a service-related disability should visit the VA Home Loan Program Eligibility page to determine whether they qualify. Call Oaktree Funding and we will help you determine your eligibility. Our knowledgeable and experienced mortgage specialists are here to assist you by answering your questions and charting your path to home ownership.

 

 

 

 

 

Non Conforming Loans

no comforming loans

A Non-Conforming Loan is a loan that fails to meet typical bank criteria for funding.

In general, a real-estate loan is qualified as a non-conforming loan because either the borrower’s financial status or the property type does not meet standard performance guidelines. The following are three common situations in which a non-conforming loan can be applied effectively:

  • The loan amount is higher than the conforming loan limit
  • You have an irregular income or are self-employed
  • You are interested in purchasing a second home or an investment property

With a non-conforming loan program, Oaktree Funding can help you buy and refinance condos, modular homes and multi-family homes, as well as invest in large acreage parcels.

When should you consider a Non-Conforming Loan?

The National Association of Realtors reported that the affordability index of the fourth quarter of 2011 provided the best markets in the past 40 years of property buying history in America! Oaktree Funding has seen this trend continue. Naturally, there has been a stampede for securing all types of home loans, be it conforming or non-conforming loans. With the experts at Oaktree Funding by your side, the loan processing mechanism has only become simpler.

Non-conforming loans are for buyers who may not be able to satisfy the standard parameters applicable for lending, but would like to make the most of the prevailing rock bottom property prices. These fixed rate and fully amortized loans could prove to be just right for you. If you are a single family home owner, or own a modular, pre-cut or panelized home, you may be eligible.

Because these loans do not meet conforming loan limits, there are a number of qualifiers and restrictions of which first time home buyers, multiple property owners and investors need be aware. Our specialists at walk you through all the conditions that apply and ensure that you are placed in the best program to benefit your current and future financial goals.

At Oaktree Funding, we can also help you with a non-conforming loan if you have an irregular income or are self-employed. Even if your credit score is nothing to write home about, landing a non-conforming loan could still be your ticket to purchasing property. Call today to receive the most comprehensive information on non-conforming loans available.

Why choose Oaktree Funding?

Borrowers should select non-conforming lenders in the same manner they shop for any other loan. Look for good rates and especially a good customer service rating. Many companies that advertise non-conforming loans are actually brokers who then refer these loan requests to lenders. Oaktree Funding is a direct lender. We fund these loans in house. Because we underwrite and process the loans, we are able to reduce our costs and streamline the loan process. That saves you time and money.

Examples of our Non-conforming Loans

The DU Refi Plus is a loan program for refinancing that provides maximum loans amounts of 105% of the appraised value of your home. You can also obtain second homes and investment properties with the DU Refi Plus.

We also offer an excellent Super Conforming Loan or jumbo loan for home purchases over $417,000 – for as little as 3% down. Call us to find out if your Investment home or second home also qualifies for our Super Conforming Loan.

There are many types of loans available today to assist buyers with home purchases or refinancing. At Oaktree Funding, we offer non conforming loans for people who may not qualify for a traditional loan. Non-conforming loans offer more flexible terms and can be more easily attained. Contact us today and speak with a mortgage specialist to determine whether a non-conforming loan is the right choice for you. Our knowledgeable loan specialists will answer your questions and guide you through every step of the loan process.

 

 

 

 

USDA Loans

usda loans, usda home loan

USDA loans are home loans guaranteed by the U.S. Department of Agriculture that create uniquely favorable terms for eligible home buyers. The primary purpose of the USDA’s Guaranteed Rural Housing Program is to help moderate- and low-income borrowers qualify for a mortgage loan even if they cannot afford to make a down payment. Oaktree Funding offers these types of loans, assisting many in rural areas with home purchases that might not have otherwise been possible. The low interest rates and terms available make obtaining a home more affordable. Oaktree Funding is pleased to offer this type of loan to families that meet the criteria. To be considered for this type of loan, applicants must purchase a home within eligible rural areas and have a household income that does not exceed the established limits where the home is located.

Other features of this loan include:

  • 100% financing; no down payment is required.
  • Flexible credit guidelines. Non-traditional credit histories may be accepted.
  • Fixed 30-year interest rates.

Call one of Oaktree Fundings’ mortgage specialists today to learn more about the USDA Guaranteed Home Loan Program and whether this option might assist you in buying a home.

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