Union Mortgage offers a diverse portfolio of financing services that include but are not limited to
FHA Loans
This loan allows borrowers to purchase and refinance homes. This is a government-backed loan, and are the most widely used programs available.
Conventional Loans
This loan allows borrowers to purchase and refinance homes. Unlike FHA loans, conventional loans are not backed by any government agency.
HELOC Loans
This loan allows you to create a revolving credit line that is based upon the equity of your property.
Jumbo Loans
This loan allows you to finance properties that exceed a conforming conventional loan amount.
Reverse Mortgages
This loan (only eligible for borrowers 62 or older) allows you to gain the property's equity in a lump sum without selling it. This loan is commonly used for retired persons who can not live off of Social Security or other benefits.
VA loans
VA, or Veterans Affairs loans are among the few lending programs that require zero down payment and don't require mortgage insurance. If you a veteran, service member or an eligible surviving spouse, contact us to start your VA loan today. If you have served for at least 90 continuous days, you meet the minimum active-duty service requirement. For veterans, national guard members, or reserve members, the minimum requirements depends on when you served. Please go to va.gov/housing-assistance/home-loans/eligibility for this information.
Condo Financing
Condo purchases are often more complicated than single-family home purchases. In addition to this, condo mortgages are scrutinized and subject to many conditions outside of a buyers' control. In response, there is a special list of properties that are exempt from these traditional limitations. Union Mortgage is one of the few lenders equipped to provide financing for these properties. We can offer expert solutions for varying situations like:
- Financing on condos not approved by Fannie Mae or Freddie Mac
- Primary residences, second homes, and investment properties with only 20% down payment
- Much, much more
Refinancing
This loan allows you to change the rate and terms of your current mortgage by taking out a new, better loan (Rate and Term Refinance) or take out a new loan and receive the difference in cash (Cash-Out Refinance).
Private Loans
This loan only applies to special cases involving the borrower and includes investment properties, commercial properties and land loans.
Construction Loans
These loans are short-term and allow you to finance construction of your dream home.
Commercial Loans
Our commercial lending solutions include fixed or variable financing rates with flexible terms.
Non-Qualified Mortgage Loans
Foreign Nationals
This loan is designed for non-residents in the United States looking to purchase a second home or investment property.
12 Month Bank Statement Loans (Owner Occupied + Second Home or Investment Properties)
This loan allows self-employed borrowers to use 12 months of bank statements showing regular deposits to qualify in place of tax returns.
DSCR (Debt Service Coverage Ratio)
This loan allows you to use property's rental income (as per rental schedule prepared by a licensed appraiser) to qualify in place of employment income.
1099 Only Loans
This loan allows self-employed or independent contract workers to use 1099s to qualify in place of tax returns.
Asset Depletion
This loan allows you to use substantial assets to qualify in place of employment income.
ITIN Loans
This loan allows non-citizens to use their taxpayer ID to qualify in place of a Social Security number.
P&L Only Loans
This loan allows self-employed borrowers to use profit & loss statements (prepared by a licensed CPA) to qualify in place of tax returns.
Contact us today to learn what loan is best for you!