We Can Help You Get a Mortgage Loan
Cash-Out, Refinance, & Buy a Home with Confidence.
By getting pre-approved with Steven Quach, a sponsored mortgage loan originator with Loan Factory, you'll gain a clear loan cost budget, a better understanding of your housing affordability, a stronger negotiating hand, and a faster closing! Plus, you can walk away after pre-approval with no penalty or come back anytime you're ready to move forward.
Steven offers incredibly low mortgage rates and a convenient online application process, all with clear and transparent rates and service. At Loan Factory, you'll have a team of expert loan officers and processors that will have your back to ensure a smooth and timely closing.
About Loan Factory
Steven Quach is a Loan Factory-sponsored loan officer. Loan Factory is a trusted name with a 5-star Google rating from over 29,000 satisfied customers. Get access to 100+ lenders with various approval guidelines and a user-friendly rate-shopping platform. Plus, as the #1 broker in 2021 & 2022 with over $11.8 billion closed loans, Loan Factory has the experience to secure your mortgage financing goals.
Go to LoanFactoryUSA.com and start comparing rates live and find the perfect loan to fit your needs.
Pre-Qualification vs. Pre-Approval
Talk to Steven about pre-qualifying to get a clear picture of your home buying options based on your income, credit obligations, and downpayment goals. Once you submit documents to verify your information, pull your credit report, and complete a standard loan application, you'll be pre-approved, giving you strong buying power. Keep in mind, with rising and falling interest rates, pre-approval amounts may change.
We've Got You Covered!
First-time Homebuyer? Consider a Conventional Loan with a minimum 3% down payment and you have a credit score above 620.
Need more flexibility? FHA Loans offer a 3.5% down payment option if you credit score is below 620.
Military veteran? VA Loans might be perfect for you, with no down payment required.
Considering a luxury home? Jumbo Loans finance expensive properties for your discerning taste.
Financing a rental property or dealing with complex income or residency documentation? Explore Debt Service Coverage Ratio (DSCR) Loans or bank statement loans. These types of loans qualify you based on the property's income or your personal bank statements rather than your personal income.
Need a bridge loan? Buy your new home without selling your current one first! To gain an edge in a competitive market, consider a bridge loan. This loan allows you to obtain financing for your new property without needing to sell your current one. With no monthly payments until your current home sells, you can take your time and get the best possible price. A bridge loan also enables you to make a non-contingent offer on your new property, increasing your chances of success. Additionally, you can access the equity from your current home to purchase your new one. Our streamlined application process makes it easy to apply for a bridge loan.
Looking for affordable homeownership programs? Start shopping around for a lower mortgage rate at LoanFactoryUSA.com.
HomeReady/Home Possible
If your income is below 80% of your area's median income, you may qualify for a HomeReady or Home Possible mortgage with just 3% down, reduced monthly mortgage insurance (for down payments under 20%), a lower interest rate, and a $2,500 lender credit. To be eligible, your income must not exceed the 80% threshold, the home must be your primary residence, you can’t own more than two financed properties (including the one you're buying), and you need a minimum credit score of 620.
HomeReady/Home Possible 2-1 Buydown
If your income is below 80% of your area's median income, you may qualify for a mortgage with as little as 3% down, reduced monthly mortgage insurance for down payments under 20%, and an interest rate buydown, with a 2% reduction in the first year and 1% in the second year. To be eligible, you must qualify for HomeReady or Home Possible, the loan amount must be $350,000 or less, and manufactured homes are excluded.
Area Median Income Interest Rate Reduction
To qualify for a lower interest rate, you must have an income below a certain threshold (100% of the Area Median Income, or 120% in high-cost areas), the home must be your primary residence, you must be a first-time homebuyer, and you must have a credit score of at least 620.
ONE Plus
To receive an extra grant of 2% of the loan amount for a down payment, you must meet the following criteria: Your income must not exceed 80% of the Area Median Income, the home must be your primary residence, you cannot own more than two financed residential properties, the loan-to-value ratio must be over 95%, the loan amount must be $350,000 or less, and you must have a credit score of at least 620. If you meet these criteria, the ONE+ program will allow you to get a mortgage with as little as 1% down.
$7,500 HomeReady First VS Purchase Plus
To receive a grant of $7,500, you must choose between HomeReady First by Provident Funding and Purchase Plus by Rocket Mortgage. HomeReady First offers $6,500 toward down payment and closing costs, a $500 appraisal credit, and a $500 home warranty. Purchase Plus offers a $500 credit for first-time homebuyers toward Homebuyer Education and counseling, a $500 appraisal credit, and an additional $1,000 if you buy a HomePath property and obtain title insurance outside of Fannie Mae's paid title policy.