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Mortgage rates are at an all time low. Give us as call today to find y=out how we can help you purchase your new DREAM HOME!
Preferred Mortgage Financial offers a variety of loan programs to meet your needs. We work with the leading lenders in the industry to provide:
 
Conventional
FHA
USDA
VA

Conventional
A conventional loan has a maximum borrowing amount of $417,000. Conventional loans are available with either fixed or adjustable interest rates and a variety of repayment lengths (30, 20, 15 and 10 year) to fit your goals. These loans may be eligible for purchase by Freddie Mac and Fannie Mae.

FHA
FHA loans are often the right choice for the first time home buyers, but they also make sense for anyone with a credit score of less than 700 or those who would like to put less than 20% down. These loans are insured by the Federal Housing Administration. The down payment can be as little as 3.50% and can be funded by gifts, grants or subordinate financing. FHA loans are available with either fixed or adjustable rates and with 30-year repayment periods. The lending guidelines for FHA mortgages vary by county as each county has its own designated maximum loan amount.

USDA
USDA loans offer a $0 down payment option, plus the seller may pay up to 6% of your closing costs. While USDA mortgages are designed for rural property, you may be surprised at the suburban areas that are eligible for this program. Loan requirements are very specific, for instance, borrowers must not have an income over 115% of the median income for the community to which they are moving.

VA
VA loans are designed for eligible borrowers or their surviving spouses, who have served or are currently serving in the U.S. armed forces. Guaranteed by the VA, these mortgages may be provided with no down payment required, making them an excellent choice for first-time home buyers. Closing costs are also kept down for the protection of the home buyer.



Unless otherwise indicated, these APR calculations are based on the following: Conforming loans (whose maximum loan amount is below $484,350 for the contiguous states, District of Columbia, and Puerto Rico or below $636,150 for Alaska, Guam, Hawaii and the Virgin Islands) are calculated based on a loan amount of $417,000 with closing costs of $8,340. Jumbo Loans (whose maximum loan amount exceed $484,350 for the contiguous states, District of Columbia, and Puerto Rico or exceed $636,150 for Alaska, Guam, Hawaii and the Virgin Islands) are calculated based on a loan amount of $1,000,000 with closing costs of $20,000. Your actual APR may be different depending upon these factors.