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Loan Options

Conventional Fixed Rate Programs

A popular loan type, conventional fixed rate mortgages feature a constant interest rate for the life of the life. Generally speaking, monthly payments remain constant. Traditionally borrowers are expected to provide a 20 percent down payment though this is not necessarily required, and can put down as little as 3%. Available terms generally range from 8-30 years. Contact us for details on down payment requirements.  

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Conventional ARMs

Adjustable rate mortgages are loans where the interest rate is recalculated on a yearly basis depending on market values. As interest rates are adjusted so is the borrower’s monthly payment. While interest rates on ARM loans are generally lower than fixed rate loans they can eventually become higher. Various types of ARM loans include Hybrid ARMs such as 10/1 year, 7/1 year, 5/1 year and 3/1 year programs. Contact us for more information on adjustable rate mortgage loans.

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FHA Loans

FHA loans are private loans insured by the federal government. These loans are popular with borrowers who don’t have enough funds to pay a traditional 20 percent down payment because they only require 3.5 percent down to qualify. Please contact us today to find out if a FHA loan is right for you.

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VA Loans

Like a FHA loan, VA loans are private loans insured by the federal government. VA loans are only available to qualified military veterans and their families. These loans are only available to these individuals for their own primary residences. For information on qualifying for this loan program please give us a call today.

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USDA Loans

USDA loans allow clients living in rural areas the opportunity to qualify for a no down payment loan. Backed by the U.S. Department of Agriculture. Contact us to see if your area qualifies!

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Jumbo Loans

Jumbo loans feature similar loan programs to fixed rate and adjustable rate programs. There are even FHA jumbo loans. Learn more about jumbo loans by contacting us today.

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Refinance Mortgage Loans

Homeowners looking to decrease their interest rate may consider refinancing. A refinance calls for the homeowner to obtain another mortgage loan. Those funds are then used to pay off the original mortgage loan and the homeowner is then bound by the terms of the new mortgage. Depending on your situation a refinance loan could be a great option. Along with decreasing your interest rate, refinance loans can also help you switch from an ARM to a FRM, and in some cases reduce your loan term.

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Reverse Mortgage Loans

Reverse mortgage loans, also known as reverse equity loans, are only available to homeowners 65 or older. Like its name indicates, this program pays the homeowner either a one-time large payout or monthly installment. Once the loan term expires the house either becomes the property of the lender or the house can be sold to repay the debt. Reverse mortgage loans are great options for seniors looking to increase their monthly incomes. Contact us for more details.

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Bank Statement Loans

As the name implies, qualify using your bank statements as income, as oppose to traditional sources of income. Best for self-employed clients.

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DSCR Loans

This loan program allows borrowers to use the solely the rental income on a property to qualify, regardless of your income. 

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Mobile/Manufactured Housing Loans

Having trouble finding a lender to finance your mobile/manufactured house? As long as the property was built after 1976 and is at least a double-wide, we should be able to assist! Contact us today to see your options. 

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The above is a partial list of programs offered by Livingston Lending Mortgage Company, LLC with a brief description of the key elements of each. For a complete list of the programs that we offer, please contact us at 810-229-6669.

These materials are not from HUD or FHA and were not approved by HUD or a government agency.