Portfolio Loans at NOLA Lending Group
Flexible Home Financing Solutions
At NOLA Lending Group, we understand that home financing isn't one-size-fits-all. That's why we offer portfolio loans—a flexible and affordable financing option for those who may not qualify for traditional mortgage programs. If you're looking for a personalized mortgage solution to fit your unique financial situation, our portfolio loans provide the opportunity to achieve your homeownership goals with more leniency and less hassle.
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What Is a Portfolio Loan?
A portfolio loan is a type of home mortgage that is held and serviced by a lender like NOLA Lending Group, rather than being sold to investors on the secondary market. This allows us to offer more customized solutions to homebuyers who may not meet the strict criteria of traditional loan programs. Whether you're a first-time homebuyer, have unique financial circumstances, or are looking for an affordable financing option, a portfolio loan might be the perfect solution for you.
Portfolio Community Development Loan
For those who face challenges in qualifying for other types of mortgage programs, the Portfolio Community Development Loan is an excellent choice. This program is specifically designed for applicants who may not meet the criteria for traditional financing but still wish to become homeowners.
The Portfolio Community Development Loan is available for properties located in targeted areas with income limits that are aligned with local housing needs. With a focus on supporting low-to-moderate income households, this program offers affordable home financing for those who may otherwise struggle to access homeownership.
The loan offers:
- Minimum 580 credit score
- Up to 95% Loan-to-Value (LTV)1
- Homebuyer education required via a HUD-approved agency2
- Property must be located in program target area and income limits apply3
- No Private Mortgage Insurance
- No prepayment penalties
- $500 Lender Credit*
- Loan will be serviced by Fidelity Bank. NOLA Lending Group is a division of Fidelity Bank.
*Lender Credit offer valid at time of application on applications submitted. Offer not valid with any other offer or discount. Lender credit will be applied at time of closing. Offer may be redeemed at any NOLA Lending office location. Cannot be copied or altered. This coupon has no cash value. Lender Credit is for the FCDI loan only.
1Financing cannot exceed 95% of the subject property's fair market value, plus allowable excess costs. Consult your tax advisor regarding deductibility of interest. 2 Homeowner education is required via an approved HUD counselor/vendor to qualify for this loan, additional fees may apply. 3 Property must be located in the program's targeted area and the applicant's income must be 80% or less than the HUD median income for the area. The property must be located in a low, moderate, or majority minority census tract.
Adjustable Rate Mortgage (ARM)
In addition to our portfolio loans, NOLA Lending Group offers adjustable rate mortgages (ARMs) for clients seeking lower initial rates and flexible terms. Our ARM options include:
- 7/1 ARM
- 5/1 ARM
- 3/1 ARM
ARMs provide an opportunity for homebuyers to enjoy a lower interest rate at the beginning of their loan term, with the rate adjusting annually after an initial fixed period. This can be an excellent option for those planning to sell or refinance before the adjustment period begins. Caps are available to limit how high your rate can rise, offering an additional layer of protection for your financial future.
Consult your tax advisor regarding deductibility of interest. Information stated above is subject to change without notice. All applications are subject to underwriting guidelines and approval. This does not constitute an offer to lend or offer an extension of credit. Other restrictions may apply. The services and products advertised are not approved or endorsed by HUD, USDA, the Department of Veterans Affairs, or any government agency. Information stated above is subject to change without notice. All loans are subject to credit approval. Not all applicants will qualify for all products offered. All loan programs, terms and interest rates are subject to change without notice and may only be available in select markets.
Why Choose a Portfolio Loan with NOLA Lending Group?
Affordable Financing Options:
At NOLA Lending Group, we specialize in offering home financing that is designed to be affordable and accessible for all types of borrowers. A portfolio loan is often a great option for buyers who may have difficulty qualifying for a traditional loan due to factors such as credit score, income level, or property location. With flexible eligibility criteria, portfolio loans make it easier for you to secure a home mortgage that fits your budget.
Customized Home Mortgage Solutions:
Our portfolio loans are tailored to meet the individual needs of our clients. Unlike conventional mortgage loans that have strict guidelines, we provide personalized terms that better accommodate your specific circumstances. For example, we offer options with no private mortgage insurance (PMI) and no prepayment penalties, giving you more control over your payments and financial future.
No Private Mortgage Insurance (PMI):
One of the key benefits of a portfolio loan is that it does not require PMI. PMI can be a significant added expense for borrowers who don’t have a large down payment, but with NOLA Lending Group’s portfolio loan options, you can save on this additional cost while still achieving affordable home financing.
Flexible Loan-to-Value Ratios:
Our portfolio loans are designed with flexibility in mind. We offer up to 95% loan-to-value (LTV) financing, meaning you can secure a larger loan with a smaller down payment. This makes it easier for you to purchase the home you want, even if you don’t have a significant amount of savings for a down payment.
Community-Focused Lending:
NOLA Lending Group is proud to offer home mortgage options that support local communities. Our portfolio loan programs are part of our broader commitment to community development. By offering affordable financing to applicants who may not qualify for traditional programs, we help foster homeownership in our region and create stronger, more sustainable communities.
Get Started with NOLA Lending Group Today
If you're ready to explore your home financing options, NOLA Lending Group is here to help. Our portfolio loans and other home mortgage products are designed to make homeownership more attainable for everyone. Contact us today to learn more about how we can assist you in finding the best affordable financing solution for your needs. Let NOLA Lending Group be your trusted partner in securing your dream home!
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LENDING IN ALL STATES EXCEPT: KANSAS, MARYLAND, NEW JERSEY, AND NEW YORK
Information stated above is subject to change without notice. All applications are subject to underwriting guidelines and approval. This does not constitute an offer to lend or offer an extension of credit. All loans are subject to credit approval. Not all applicants will qualify for all products offered. All loan programs, terms and interest rates are subject to change without notice and may only be available in select markets.