Home Mortgage Programs
Ready to start your future? Buying a home is the first step to laying down roots for yourself and your family. At NOLA Lending Group, we’ll guide you through the home mortgage process so you can move into your dream home at your dream rate.
Our lending specialists can assist you in determining which type of loan is best for you and the kind of property you are financing. Whether you are a first-time home buyer or a seasoned property investor, our home lending experts can offer invaluable assistance.
Below are just a few of the more common loans available to NOLA Lending Group customers. You can learn about all of our programs here.
Conventional Mortgages
Conventional mortgages are not guaranteed or insured by the federal government. Most traditional mortgages have either a fixed or adjustable interest rate.
Fixed Rate
Fixed-interest rate loans have a stable monthly payment over the life of the loan. Your principal and interest will always stay the same amount, making it easier to budget from month to month and you are protected from rising interest rates.
Adjustable Rate
Adjustable rate mortgages (ARM) fluctuate in relation to the rate of a standard financial index. Your interest rate and monthly principal and interest payments remain the same for an initial period and then adjust annually. Interest rate caps can be set to limit how high your rate will go. This type of loan will typically have a lower initial interest rate than a fixed-rate mortgage. An adjustable-rate mortgage can be a good choice if you expect future income growth or if you plan to move or refinance within a few years.
Whether you decide on fixed or adjustable rates, your NOLA Lending Group home mortgage experts are here for you.
FHA
The Federal Housing Administration (FHA) is a government-backed initiative created to increase home ownership. FHA loans offer low down payment requirements and flexible credit requirements. If you sell your home, the buyer can take over the loan (subject to loan approval). This type of loan also allows a co-applicant to help you qualify, even if they do not live in the home.
Talk to one of our mortgage lenders today to find out more.
* The services and products advertised are not approved or endorsed by HUD, USDA, the Department of Veterans Affairs, or any government agency.
VA
VA home loans are available through the Department of Veterans Affairs to eligible veterans, reservists, active-duty personnel, or eligible family members. VA loans are available in a variety of fixed-rate and adjustable-rate options. There is no down payment or monthly mortgage insurance premiums – plus, credit requirements are flexible.
* The services and products advertised are not approved or endorsed by HUD, USDA, the Department of Veterans Affairs, or any government agency.
*Important notice to servicemembers and their dependents: If you or any occupant of your home are, or recently were, on active Military duty or related active service, you may be eligible for benefits and protections under the federal Servicemembers Civil Relief Act.
Rural Development
There is no down payment for this type of government loan for properties located in suburban, rural, and semi-rural locations. With a Rural Development loan credit requirements are flexible. However, the property being purchased must be within a rural development-eligible area. Find a nearby NOLA Lending Group home loan expert to find out more.
* Available in select markets.
** The services and products advertised are not approved or endorsed by HUD, USDA, the Department of Veterans Affairs, or any government agency.
Jumbo Loan
Sometimes called a non-conforming loan, a jumbo loan is for amounts above the maximum limits set by federal mortgage lending groups. It is a good choice if you have a higher property value and can manage larger monthly mortgage payments. Interest rates on jumbo loans are usually higher than on conforming loans with lower amounts. Find a local NOLA Lending Group mortgage specialist and take the first step.
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.
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.