type of service
Standard home loans for all standard borrowers. These loans typically have an MIP/PMI (mortgage insurance provided/required by the lender) up until 80% of loan to value is met. MIP/PMI may be annulled through a refinance once the loan to value ratio has hit 80%, MIP/PMI is for the life of the loan otherwise.
Loans Specific to Veterans. These often offer the best deal for military personnel, both active and retired qualify.
Requires a 20% down payment of the total loan amount. Conventional eliminates the cost of MIP/PMI (mortgage insurance) payments included in most mortgages. This loan results in more cash towards the loan principle monthly and less towards interest.
What Are My Loan Rate/Term Options?
Fixed Rate Mortgages – Generally have a higher standard interest rate, however this rate is locked in for the life of the loan. These rates are only subject to change if the borrower refinances to a different loan type or rate. The borrower may see changes in their payment amount due to county taxes issued by the city/state in which they reside, not the mortgage lender as the rate stays the same for the life of the loan.
Adjustable Rate Mortgages – Generally ARMs are a lower rate than fixed but has an initial period where the rate can not adjust. Typical arm rates are a 3/1 or 5/1 arm, this meaning the initial rate is locked in for the first 3-5 years. After the initial rate period the interest rate my adjust up to 1% per calendar year. .
A 30-year mortgage is the most common term rate. This means you’ll be paying off your mortgage over a period of 30-year or 360 month term. This helps keep mortgage costs down.
Those with a lower mortgage amount or higher income enjoy to double-down and pay off the full mortgage amount in half the time at 15-years. This allows borrowers to pay off their home in less time and pay less interest for the life of the loan.
We Enjoy Working
Why People Choose Us
Our underwriters will have an approval back to you within 24-48 hours from submission.
Fast Turn Time
Start to Finish: USF’s goal is to have your loan done or closing by 14 days.
Devoted Loan Team
Each loan is assigned a devoted Loan Officer and assistant processor to ensure quick completion and fast communication response time.
We strive to find the perfect fit mortgage to your financial and family needs. Need to save money, pay off debt? We have solutions for all!