FIND THE RIGHT LOAN SOLUTION  FOR YOU

available loans

Homes come in all sizes and styles. When it comes to home loans, there are nearly as many options. At Supreme Lending, we’re happy to explain all the details and help you make a smart choice.

FIRST TIME HOME BUYER

We don’t do cookie-cutter. Our first time home buyer home loans are tailored to your needs, including these options for special circumstances.
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Whether you’re just starting out or you’re long-time homeowner, we’ll help you find the right loans for your next home or condominium.

HomeReady®

If you have a high enough credit score and you qualify based on income, Fannie Mae’s HomeReady® Mortgage could be the solution for you.

Here’s a snapshot of the ideal HomeReady® borrower:

  • Low income
  • First-time or repeat homebuyers
  • Limited cash for down payment
  • Credit score of at least 620; if your credit score is at least 680, you may get even better pricing
  • Supplemental boarder or rental income
  • Purchase or refinance transactions eligible

The HomeReady® Mortgage lowers the hurdles of homeownership.

  • Low Down Payment: As low as 3% down payment for purchases and refinances
  • Flexible Sources of Funds: Can be used for down payment and closing costs with no minimum contribution required from your own accounts
  • Affordable Mortgage Insurance (MI): Reduced MI coverage requirement above 90% loan-to-value
  • Homeownership Education: The online Framework® course prepares you to manage the responsibilities of homeownership

HomePossible®

If you qualify as a very low- to low-income borrower, you have options under Freddie Mac’s HomePossible® program,

Here’s a snapshot of the ideal HomePossible® borrower:

  • First-time homebuyers with limited credit history or rebuilding credit
  • Seniors looking to downsize
  • Newlyweds and new graduates with limited funds
  • Renters with long-term roommates; rental proceeds can be used as qualifying income

The HomePossible® Mortgage can help you reach your goals.

  • Low Down Payment: As low as 3% down payment for purchase and no cash-out refinance transactions.
  • Flexible Sources of Funds: Non-occupant co-signers may help borrowers qualify for 1-unit properties, with no minimum contribution required from your own accounts
  • Flexible Property Types: PUD, condo and manufactured homes eligible
  • Credit Flexibility: Borrowers with little to no credit history can qualify with 95% loan-to-value

Condo Loans

Looking for a condo lifestyle? We can help you there. Whether you’re looking at a primary residence, vacation home or investment property, Supreme’s condo loans provide the answer.

Keep in mind, condo loans are subject to different rules and qualifications than single-family homes. Underwriters consider a variety of factors, including but not limited to the property’s age, structural integrity, grounds and amenities, as well as the overall finances of the building.

Warrantable Condos can be financed and underwritten as a conventional mortgage, as long as they meet these requirements:

  • No entity can own more than two units in projects consisting of 5-20 units, or 20% of units in projects with 21 or more units
  • At least 50% of the units are owner-occupied
  • Less than 15% of total units are 60 days or more in arrears on homeowners’ association (HOA) dues
  • The HOA is not named in any lawsuits
  • Commercial space accounts for 35% or less of the total building square footage

Non-Warrantable Condos don’t meet the above criteria and are more difficult to buy and sell because Fannie Mae and Freddie Mac consider them high-risk. Non-traditional financing is often needed for these types of condos. Contact us for details.

Benjamin Macht | Producing Branch Manager  NMLS #1099425 | 12958 N Dale Mabry Highway Tampa FL 33618 | Branch NMLS #2284700

This website is not authorized by the New York State Department of Financial Services to accept mortgage loan applications for properties located in New York. For New York applicants, please visit our New York authorized website: www.supremelendingnewyork.com . © 2023 EVERETT FINANCIAL, INC. D/B/A SUPREME LENDING NMLS ID #2129 (www.nmlsconsumeraccess.org ) 14801 Quorum Dr., #300, Dallas, TX 75254. 877-350-5225. All rights reserved. Supreme Lending is an Equal Housing Opportunity Lender. This is not an offer to enter into an agreement. Information, rates, & programs are subject to change without prior notice and may not be available in all states. All products are subject to credit & property approval. Supreme Lending is not affiliated with any government agency. For licensing information, go to: www.nmlsconsumeraccess.org . Supreme Lending is an equal opportunity employer and does not practice discrimination based on age, gender, race, religion, national origin, as well as any other rights afforded to applicants under state and federal law.