Residential Programs
With hundreds of loan programs available...it
can get confusing!
We offer a FREE Mortgage Analysis to help you find the
correct program. We have a lending solution for you, no matter
what
your financial situation or goals.
100% Purchase Loan Programs
Are you looking for a "no down payment" home loan program? If you
need all your funds to cover closing and moving costs, or do not want to tie
up your
money in real estate, or just want to keep more cash available, a 100% LTV
(loan-to-value) home loan could be right for you. This will also increase
the amount of your mortgage deduction.
Interest Only Programs
Interest Only programs are once again becoming a popular
option. These programs allow you to qualify for a loan
based on your ability to pay only on the interest portion of the
mortgage payment. During the first years of the loan (usually five
to seven years), you pay only the interest portion of the monthly
payment. This frees up your cash for other goals.
After the initial "interest only" years,
the loan reverts to a standard interest and principal payment
and
is amortized
over
the remaining
years
of the loan. An example would be a 30-year mortgage: The first
five years would be an "interest only" loan, then re-amortized
over the remaining 25 years.
The advantages of an Interest Only program:
• Interest Only programs
could allow you to qualify for your dream home today.
• You will be able to use your cash — that
would have gone toward the principal — for other purposes.
• You will be able to benefit from appreciation of your home and get the
tax benefits of home ownership as well.
• Since most borrowers refinance at the end of the
initial "interest only" portion of the loan, this program
could make sense for your long-term goals.
Fixed Rates
Fixed Rate programs are available on 15, 20 and 30 year terms. This program
is popular, but is not always in the customer's best interest. We can also show
you how to pay these loans in half the time, saving you thousands of dollars in
interest!
Adjustable Rate Mortgages (ARMs)
You can reduce your monthly mortgage payments by refinancing at today's still
low interest rates! The Adjustable Rate Mortgage (ARM) 's interest rate is
below a standard fixed rate mortgage's interest rate, sometimes by a
few points. This could allow you to move up to a larger home
or lower your monthly payments.
However, ARMs are just that — adjustable. The interest
rate will adjust at intervals depending on the terms of
the ARM you choose and the market. So your rate could go
up or down. Discuss Adjustable Rate Mortgages with Superior.
We will go over your alternatives and choose a loan program
that's right for your financial situation.
No Document and Limited Verification Program
We have 100% Stated Income programs for Wage Earner or Self
Employed. These
programs are for customers with average to good credit, who are Self Employed
or have problems providing verification or income. There are many customers
whose situations do not fall within conventional guidelines...for these customers
we have limited verification and no verification programs.
Additional Residential Programs
100% - 115% Refinances
Refinancing your loan allows you to take advantage of today's low rates,
an increase in your home equity, or your improved credit. It could mean less
interest payments for you and lower monthly payments. You could also build
equity in your home quicker by converting from a 30-year loan to a 15-year
loan.
Borrow up to 115% of your home's value. One option to consider
when refinancing is to get a "cash out refinance" loan. When you refinance your loan, you can make an increase in your loan amount
and take the money out as cash — tapping into your home's equity.
Home Improvement
Add value to your house! If you considering an extensive
remodeling project that will add value to your home, you
may want to refinance your
current home loan for more than its current balance. This enables
you to tap into your home equity and provide some extra
cash for your remodeling
project.
Debt Consolidation
Take advantage of today's low rates and consolidate your debt
with a Home Equity Loan from Superior Financing LLC. Debt
Consolidation is the process of combining your secured debt and credit
card debts into one loan
payment, often
at a considerably
lower rate than you are currently paying.
Interest charges
on secured loans may be tax deductible (See your tax professional
for details). If you currently have an adjustable rate
mortgage, refinancing
will give you the chance to lock in today's low rates with a fixed
rate mortgage.
Land Contract
Refinances
A land contract is an installment contract drawn between
a buyer and a seller for the sale of property. The
buyer takes possesion of the property
while making payments. Actual ownership of the property is transferred
when full payment has been made.
Slow Credit / Bankruptcy
If you have been turned down for a loan, you may qualify for a "subprime" loan.
These loans will have higher interest rates, but it is one way
to get a loan if you truly have damaged credit. In some cases, a home
loan can
be
the first step toward repairing your credit and helping you gain
financial control. Let Superior Financing LLC work with you to find
the best
terms possible.
Construction Loans
Are you ready to build your dream house?
We offer construction
loans designed to make your life — and your builder's life — easier,
with on-time draws and a post-construction loan at a new term
and rate that best fits your budget. Most borrowers choose to
change the construction loan into a permanent 30-year fixed rate
loan.
To make your life even easier, you can lock in your interest
rate before you even start construction. Superior Financing
LLC construction loans will also save you on closing fees, since
we will arrange
for closing costs to be paid only once for both construction
and permanent financing.
Home Equity Lines of Credit
Consider using a line of credit to borrow against the equity
in your home. You can use this line of credit to consolidate
debt, make home improvements, or meet another financial goal.
Your interest rate is usually much lower than the rate you
are paying on credit cards or personal loans. Plus, since you are
securing the line of credit with your home, the interest may
be tax-deductible. (See your tax advisor for details.)
Let's discuss if this is a good option for you to reach
your financial
goals.
Additional Residential Services
- Chapter 13 buyout/refinance
- 100% Purchase Condo - No PMI
- Mortgage Only Programs
- Rental Properties
- Blanket Mortgages
- Hobby Farms
- Mixed-Use Properties
- Log Homes
- Vacation Properties
- Vacant Land
We also offer "Superior Service" on commercial loan programs.
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Loan
Programs 
