Bill Mervin Team

Certified Mortgage Planners

Choose the Right Mortgage for You

Buying a home has been the primary way Americans have built wealth for decades. In today’s world, new technology and a multitude of financing options have intersected to create a host of options for buyers – and they’re taking notice. Whether you’re buying your first home or your fifth, we’re here to help.

Conventional loans are ideal for homebuyers with good credit scores. There are a variety of conventional loan programs with different minimum down payments. We lend both conforming and non-conforming (jumbo) loans.

  • Minimum down payment requirement 
  • Advantages for higher down payments
  • Ideal financing for properties commonly restricted by government loans
  • Several mortgage insurance options available for loans with less than 20% down, including:
    • One-time, upfront insurance
    • Monthly mortgage insurance, which could cancel at 78% equity
    • Financed mortgage insurance
    • Lender paid mortgage insurance

An FHA loan is an attractive option for many first-time homebuyers because it allows for lower down payment and easier credit qualifying.

  • 3.5% down payment
  • Program can be combined with additional down payment assistance programs to further reduce costs
  • Monetary gifts from family can be accepted towards down payment
  • Seller can pay up to 6% towards closing cost / prepaids
  • Fixed or adjustable rates available
  • Shorter waiting period after a derogatory credit event

VA Mortgage

Designed for active-duty military, veterans, reservists, and the surviving spouse of a veteran, VA loan programs offer up to 100% financing (based on VA lending limits) for purchase loans, and up to 100% for cash-out refinances.

  • 0% down payment (based on VA lending limits and VA eligibility)
  • Seller can pay all closing costs and escrows
  • Seller can pay debts in veteran’s name to help qualify
  • VA funding fee may be financed
  • Fixed or adjustable rates available
  • No monthly mortgage insurance premiums

Refinancing

Refinancing is the process of getting better terms on your current mortgage by taking out a completely new loan. This new-and-improved mortgage will leverage positive market conditions, and Apex can customize it to your financial goals, helping you to achieve:

  • Lower monthly payments
  • Shorter loan terms & greater financial stability
  • Adjustable to fixed-rate loan conversions
  • Consolidated debt
  • Home enhancements & renovations
  • Removal of Private Mortgage Insurance premiums

CERTIFIED MORTGAGE PLANNERS

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