Ready to Buy Your Home?
We’re here to help you buy the home of your dreams. Buying a home is one of the most exciting decisions you will make. From getting pre-approved to finding the perfect home, understanding the home buying process can help give you peace of mind. So can partnering with a mortgage lender you can trust. Whether you’re building or buying your home, FBC is here to help you along the way!
The first step is getting pre-approved. Pre-approval for your home loan considers your household income and payment history before determining how much of a loan you qualify for. Online pre-approval applications like SimpleLoan.com have become a simple and secure way to qualify.
Home buyers can qualify for a variety of loan programs, and the best program for your neighbor may be different than the one that’s right for you. Choosing the loan that’s best for you takes time, knowledge, and experience.
Ready to Apply?
There are many different types of loan programs you can choose from. Mortgages come in a variety of options and the best loan program for your neighbor may be different than the one that is right for you. Different loan programs incorporate different interest rate guidelines, required deposits, and more. Learn about some of the most common home loan programs offered by FBC Mortgage below. For more information on all our home loan programs, visit our Loan Programs page.
The FHA 203k loan program is a good fit if you are looking to purchase a home that may need repairs or upgrades. Common repairs issues include damaged roof, broken A/C system, and plumbing problems. It can also be used for upgrades on a home to be purchased, including flooring, painting, new appliances, and more. The FHA 203k loan program allows you to combine the costs of these repairs and upgrades to rehabilitate the property into the home loan.
In addition to streamlining costly repairs for a property, an FHA 203k loan can also be used for modernization of an existing home. This is useful for homeowners who want to update a kitchen or bathroom, build room additions, or other home expansion projects.
Adjustable Rate Mortgages (ARMs) typically have lower mortgage rates when compared to traditional fixed rate programs. These rates adjust periodically over time, which can vary based on how long of a mortgage term you take. If you plan on selling or refinancing your home in less than 10 years, an ARM may be one option worth considering. Adjustable Rate Mortgages can be complicated, which is why we recommend talking to one of our mortgage consultants if you think this loan program is right for you.
FHA is short for Federal Housing Administration. While FHA loans are geared toward first-time buyers, you do not need to be a first-time buyer to take advantage of this loan program. There are several benefits in selecting an FHA loan over other forms of financing. Easier credit qualifying, lower down payments and lower monthly payments all make FHA an excellent choice for first time buyers.
Fixed rate loans are offered with most loan programs, including Conventional, FHA, VA, and USDA. Fixed rate indicates that your mortgage rate and payment are fixed for the life of your home loan. Fixed rate mortgages typically range from 10 to 30 years.
The High Loan-to-Value refinance option provides refinance opportunities to borrowers with existing Fannie Mae mortgages. This program offers refinance options to help lower your interest rate, shorten your loan term, or change from an adjustable to fixed rate mortgage. FHLMC also allows for this option with the Enhanced Relief Refinance.
Jumbo Loans refer to loans in which the financing required exceeds the maximum loan amounts established by the Federal Housing Finance Agency (FHFA). If your loan amount is larger than the FHFA maximum amount, a Jumbo loan may be required to secure the remaining financing that’s required for your loan. Jumbo loans can be set as either adjustable or fixed rate mortgages and have other terms that may apply.
Reverse Mortgages have a variety of requirements in order to qualify. Most importantly, borrowers must be 62 years of age or older and must own the property in order to qualify for a Reverse Mortgage. The largest benefits of a Reverse Mortgage are eliminating mortgage payments and using your home equity to gain access to tax-free money in the form of a loan.
VA loans are backed by the U.S. Department of Veteran Affairs and are available for military personnel, surviving spouses, and veterans. One of the key benefits for this loan is that it offers a zero percent down payment, so service men and women are not required to make a down payment for the loan. These loans can also be up to 100% financed, pending all requirements are met. Usually, these types of home loans are approved fast with minimal red tape. Even if you have less-than-perfect credit, a VA loan might be the best for your financing situation. Other benefits of the VA home loan include it being offered as a fixed-rate or ARM mortgage that never includes monthly Private Mortgage Insurance (PMI).
Get Started with SimpleLoan.com
SimpleLoan.com, powered by FBC Mortgage, LLC is the fast, easy, and secure way to apply for a mortgage.
My Monthly Payment
what people say
Some of our Awesome Testimonials
I have zero complaints; Ronald made the entire process easy and simple which I definitely needed as a first-time home buyer!
Heaven was extremely professional and helpful throughout the process. Thanks for your patience through our loan process. You have been a joy to work with!
Wes and the rest of the processing team made this super easy. Access to everything online and clear communication would make me do this with them all over again.
If I must go through this process again, I will not hesitate to choose Ana María. Any opportunity I get to refer and recommend people to her, I most certainly will!
Selecting FBC Mortgage to refinance my home loan was one of the best decisions I made in 2020. Our loan officer, Greg Balawajder, was nothing short of exceptional.
Keith Bice makes the process seamless and simple. From the application to closing, he made this process as stress free as possible.
Questions About Home Buying?
Talk to one of our mortgage professionals to learn more about financing your new home today.