The Plum Creek Difference
Our company is dedicated to providing the best loan programs service available in the industry. From small homes to mansions, we are here to help.
BROKER VS. BANKER
Plum Creek Funding can offer our clients the very best of both worlds. As a mortgage banker we are able to use our own lines of credit to fund your loan.
This means faster closing and more control over your mortgage.
Loans that are more difficult or do not fit standard underwriting guidelines can be brokered out to one of the many national lenders that we have cultivated lasting relationships over 30 years in the mortgage business.
CONVENTIONAL LOANS
A conventional loan is a mortgage loan that is not insured or guaranteed by the government. These loans are backed by private lenders and the insurance is usually paid by the borrower.
Conforming loans meet the standards set by Fannie Mae and Freddie Mac.
Fannie Mae, Federal National Mortgage Association (FNMA) and Freddie Mac, Home Loan Mortgage Corporation (FHLMC) are both federally chartered corporations that buy and pool US mortgages and issue securities based on those pools. Mortgage banks close and fund loans that meet these guidelines and prepare them to be sold in bulk on the open market.
JUMBO LOANS
Loans that exceed the conventional loan limits of $726,200 are considered Jumbo loans. These loan have additional layers of risk and can take additional information in order to approve. Larger down payment requirements as well as more stringent underwriting guidelines can extend the amount of time required to complete Jumbo loans as well.
Borrowers interested in Jumbo loans are required to have credit scores higher than 700 and higher reserves than standard conventional loans.
FHA LOANS
Loans insured by the Federal Housing Administration (FHA) are a type of federal assistance that allows for people to purchase homes with less stringent lending and down payment requirements.
Created by the National Housing Act of 1934, FHA requires only a 3.5% down payment. FHA loans will have an upfront as well as a monthly mortgage insurance premium for the life of the loan.
Credit requirements for FHA are generally more liberal than conventional loans. FHA loan amount maximums are determined by the county the property is located in.
VA LOANS
VA loans are a mortgage loan guaranteed by the U.S. Department of Veterans Affairs (VA). VA loans were designed to offer long-term financing to eligible American veterans or their surviving spouses.
The VA direct home loan program supplies home financing to eligible veterans with no down payment. VA loans have more liberal loan guidelines very similar to FHA loans.
VA loans do not have monthly mortgage insurance. The maximum VA loan guarantee varies by county. The maximum VA loan amount with no down payment is usually is based on the veterans level pf entitlement.
USDA LOANS
The United States Department of Agriculture (USDA) offers qualified applicants zero down payment loans in approved rural areas.
Unlike other government mortgage loans, the USDA program does not require borrowers to make a down payment. In addition, closing costs can be rolled into the loan, completely eliminating the upfront costs of buying a home.
USDA mortgage holders are not required to carry traditional mortgage insurance. A USDA mortgage loan can be used to buy, construct or rehabilitate a home.
REVERSE MORTGAGE
The Home Equity Conversion Mortgage was created in 1989 to help older homeowners meet the financial demands of retirement. A reverse mortgage is based on the home’s value, the youngest borrower’s age and the interest rate.
HECM's are unique in that it has no monthly payments while giving access to equity during retirement.
Borrowers retain ownership in the home as long by meeting the requirements of the loan. The loan is repaid when the last surviving borrower passes away through the sale of the property or refinance by your heirs.
BRIDGE FINANCING
A bridge loan is a short-term loan used to bridge the gap between buying a home and selling your exisiting one. You may want to buy before you sell, meaning you don’t have the assets from the sale to apply to your new home. This can be a challenge if you need that money to buy your new home.
A bridge loan will help provide funds for your new home purchase.
Plum Creek Funding can help you with your bridge financing needs, for more information about bridge loans, contact your mortgage professional today.
2ND MORTGAGE
A second mortgage is a lien taken out against a property that already has a home loan on it. A a right to possess and seize property under specific circumstances.In other words, your lender has the right to take control of your home if you default on your loan.
Unlike s types of loans, you can use the money from your second mortgage for almost anything. Second mortgages also offerhat are lower than credit cards.
This difference makes them an appealing choice for paying off credit card debt.
SPECIALTY FINANCING
Expertise in unique properties and programs in today's ever changing marketplace. Not all loans are created equal, some situations call for specialty lending and Plum Creek Funding can help you obtain the financing unique to your individual needs.
Providing non qualified mortgage loans, bridge financing and no income verification loans.
Call us today to speak about all of your loan options.
MORTGAGE SERVICES
FIRST TIME BUYERS
Buying your first home is an important step, let our professionals walk you through the process of home ownership.
We offer classes and education to help guide you during this important financial decision.
If you are ready to buy today or need a road map to navigate your home ownership dreams, our professional staff is ready to assist you,
Plum Creek Funding is here to help, from advice on saving for down payment to finding the best Realtor to fit your needs we are here for you.
CREDIT REPAIR
Maintaining good credit can sometimes be a challenge. With shifts in the economy, layoffs, sickness and day to day struggles sometimes your credit can suffer.
We can guide you on making the right decisions to improve your credit to qualify for your next mortgage.
Whether you have had past bankruptcy, foreclosure or slow pays, we can put you in the best position possible to improve your score quickly.
For more information on our trusted partners please contact our office immediately.
REALTOR SERVICES
As a professional realtor, your time is your livelihood. Our staff will never place a borrower in the car until with you until they are pre-approved.
We provide fast accurate information regarding the borrower's purchase qualifications as well as fast closings to help win contract in the competitive real estate market.
We know how to cultivate your leads and turn them into qualified buyers.
Ask about our Realtor programs including marketing and referral systems.