Most frequently asked questions - different types of loans

In mortgage lending one size does not fit all, so forget about gimmicky online prequalification applications—they’ll only mislead you. From the very start, our team works with buyers one-on-one, providing honest, thorough information that you can bank on. If your current lending experience is less than satisfactory, give us a call. We’ll help you take advantage of some of the best mortgage loans in the Miami area.

Mortgage loans available to buyers in Miami and surrounding areas:

Condo Loans
Because of all the ups and downs the Miami condo market has endured, there are some unique procedures you need to consider. Not all properties are available through traditional financing and not everyone can purchase a unit, regardless of credit worthiness.

Jumbo Loans
Depending on where you intend to purchase, jumbo loan limits will vary. For example, Fannie Mae-Freddie Mac limits in Monroe County are greater than Miami-Dade and Broward. Learn more by visiting our Jumbo Loans page or calling us.

Foreign Nationals
A foreign national is a legal resident or citizen of another nation looking to purchase a second home here in the U.S. It’s a complex mortgage process, but we have multiple options to choose from and sound advice in areas often overlooked.

Construction Loans
Construction mortgage loans are typically short-term loans with variable rates connected to the prime rate. Your construction timeline is important for approval, as are your budget and plans. These loans are usually obtained by a builder or by individuals.

VA Loans
VA Loans are one of the most consumer-friendly lending options available. They are one of the few lending options available with zero money down. Veterans or spouses to members of the military who died while in service qualify for VA Loans.

FHA Loans
FHA Loans are loans insured by the Federal Housing Administration. Like VA loans, FHA loans are among the easiest loans to qualify for and, thus, are very popular for first-time homebuyers.

With interest rates still near record lows and with looming fears that this will soon change, refinancing is considered an attractive option for homeowners. Understanding the big picture about refinancing can help you choose the ideal plan for you.

Commercial Real Estate Loans
Looking to purchase your own office or additional warehouse space? We have a broad set of programs to choose from, available for office building, retail, industrial and hospitality.

If we haven’t covered something you wanted to know, please call us 305-598-9896! We love educating our clients.

Union Mortgage Investment Group

273 Minorca Ave.
Coral Gables, FL 33134-4405