Cash-Out
- Debt Consolidation
- Home Improvement
- Cash surplus (Rainy day fund)
- Buy second/investment property
- Life Events (Weddings, college, vacation, investment, etc.)
Improve Mortgage Terms
- Lower interest rate and payment
- Shorten mortgage term
- Eliminate Mortgage Insurance(MIP/PMI)
- Lock-in a low fixed rate for the life of your loan
- Convert an Adjustable (ARM) to Fixed Rate
Reasons to work with OC Lending Group
- – Top Nationwide Direct Lender since 2002
- – $0 Lender Fees – No application, organization, rate lock, processing or underwriting fees to borrowers who qualify
- – Competitive Rates – We offer the most competitively low rates that are available.
- – Simple Process – Our process is as streamlined as possible. We can even help gather documents for you!
Conventional
With a score of 620, you qualify for a conventional home loan. But if your credit score is 740 and above, you make a lower down payment and typically get very attractive conventional loan rates.
Lenders usually require a debt-to-income (DTI) ratio of 36% or below. However, in some cases a lender may work with a higher DTI.
*Ask us about RefiNow to learn more about special refinance program.
Homeowners can have a loan-to-value ratio up to 97%, a debt-to-income ratio of 65% or less.
FHA
FHA loans are available for people with credit scores of 580 or higher, and down payments as low as 3.5%. FHA loans are one of the most accessible types mortgages.
Best for:
- People looking for low down payments
- Credit that’s a little less than perfect
- First time home buyer
- Wanting out of a rising adjustable rate
- Want into a low fixed rate mortgage payment
- Financed with FHA home loans previously
VA
VA Loans were created for qualified veterans, service members and their spouses to obtain a home with no down payment.
What You’ll Need To Qualify For A VA Loan
- A Certificate of Eligibility.
- A minimum credit score of the low to mid 600s
- A debt-to-income ratio (DTI) of no higher than 60%. Estimate your DTI by adding your monthly debt payments (such as credit card and car payments) and dividing the total by your monthly income before taxes.