FHA Loans are fast becoming a popular mortgage product considering the rates and terms that are available to new and current homeowners.  First-Time buyers often find that a FHA approval is easier to come by than your traditional Fannie Mae or Freddie Mac approval when they are attempting to borrow over 95% of the home's purchase price.

Lot Loans have been very popular among our clients over the past 4-5 years. It is very easy for borrowers to obtain financing for up to 90% of the lot's purchase price and terms up to 30 years.  Traditional banks normally limit loans to value at 80-85% and 15 year terms.  Our investors offer terms up to 30 years which reduces the monthly obligation.

Home Equity Loans are very popular right now due to the Prime Lending rate being 5.250%.  90% of the home equity loans out there are priced according to the Prime Lending Rate.  Rates are available from 4.75% and the process for approval is simple and fast.  Equity loans can be fixed term or revolving accounts with more flexible terms.  These loans are often used for debt consolidation, home improvements and other personal goods. With rates as low as they are right now, it is common for homeowners to tap into their home's equity to take advantage of the possible tax advantages over most consumer loans.

Fannie Mae and Freddie Mac mortgages are still the most popular mortgage loans in the marketplace today.  They make up almost 80% of the nation's volume each year and will continue to be the leading funding vehicle for home purchase for years to come.  There have been numerous changes to lending guidelines over the past year which has changed the amount one can borrow.  Credit scores are also playing a more important role in the approval process.  Mortgage insurance companies have also been instrumental in these credit score requirements due to losses incurred over the past year.

Investment Property loans are probably the area that has changed the most over the past 12 months due to all of the speculation on real estate and the meltdown that came along with it.  Delinquencies and foreclosures have increased to record highs across the country.  The positive of this is that Discount-Lenders and its network of mortgage investors continues to have the most competitive programs available in today's market.