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.
Conventional Loans
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In an uncertain world, it’s good to have things you can count on. A fixed-rate mortgage features stable monthly payments, making it easier to plan your long-term finances.
There’s a reason Conventional Loans have been popular for generations – by spreading out payments over a longer time period, they make homeownership affordable to large numbers of people. At Supreme Lending, we offer a wide range of repayment terms, allowing you to dial in a monthly payment that you can comfortably manage.
- Fixed-rate loans
- Repayment terms of 10, 15, 20, 25 or 30 years
- Down payments as low as 3% (Down payment can be a gift from a family member)
- Loan limit in most U.S. counties is $548,250. In most high-cost areas, the limit is $822,375. (Buying a more expensive house? See our Jumbo Loans.)
- Minimum credit score of 620, in most cases
- Easy application process
- Personal assistance from friendly loan officers
- Annual interest payments on home loans may be tax-deductible; consult your financial counselor
FHA Loans
Popular with first-time homebuyers, these government-backed loans feature low down payments and relaxed credit requirements
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You don’t need to save a small fortune to afford a new home. FHA mortgages require lower down payments and include several other financial advantages.
Federal Housing Administration loans were part of FDR’s New Deal. Today, they’re still a great deal because they break down two big barriers to home ownership. You don’t need to put 10% or 20% down on your new home, and you don’t need a near-perfect credit score. Let a Supreme Lending Mortgage Professional explain how – with a little help from Uncle Sam – you might qualify for these very affordable mortgages.
- Excellent choice for many first-time homebuyers
- Low down payments, with a minimum of 3.5% (mortgage insurance is required)
- Credit scores as low as 580 accepted
- Gift funds from family members, friends or employers can be used for 100% of the down payment or closing costs
- Fixed-rate and adjustable-rate mortgage options are available
- Refinancing options also available
Worried about dealing with the government? Relax. It’s not the FHA that’s lending you money. The agency simply offers guarantees to lenders like Supreme Lending. The entire application process will be handled by one of our friendly Mortgage Professionals.
usda Loans
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The U.S. Department of Agriculture is best known for supporting farmers and ranchers. But it also helps people buy homes without putting any money down.
City life isn’t for everyone. The USDA’s home loan program could allow you to buy or build the homestead of your dreams in rural areas and in certain suburbs and small towns. A Supreme Lending Mortgage Professional can provide you with more information on whether this affordable financing approach could be your breath of fresh air.
- Designed for people with lower and moderate incomes
- Down payments as low as 0%
- Lower closing costs and interest rates
- Lower credit scores acceptable (620 is usually the minimum)
- Use gift funds and grants from family or government-assistance agencies
- Work directly with a friendly Supreme Lending Professional who will assist you with your loan application
- Eligible properties include single-family homes, new construction, modular homes and eligible condominiums
- Mortgage insurance is required
Not sure whether the property you’re looking at is defined as “rural” by the Department of Agriculture? It only takes a minute to find out, using the USDA’s website.
Specialty Loans
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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.
jumbo loans
More expensive homes often require special loans. We can provide the financing you need to make your big move.
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Maybe you have a lot of kids. Maybe you’re moving to a nicer neighborhood. At Supreme Lending, we know there are many reasons why you might need a bigger loan for a more expensive home.
A Jumbo Loan is often called a non-conforming loan, because it exceeds the dollar limits set by two government-sponsored enterprises – the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac). A Supreme Lending Mortgage Professional will explain all the details and help you find a loan option that’s a perfect fit for your new home
- In most U.S. counties, a Jumbo Loan is any mortgage over $548,250
- In higher cost areas, Jumbo Loans start at $822,375
- These loans enable buyers to purchase “more house,” such as luxury properties or vacation homes, without tapping into savings
- Fixed-rate and adjustable-rate loans available
- Usually require down payments of 20%
- Refinancing options available
- Personalized service from knowledgeable Mortgage Professional
Renovation Loans
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Kitchens and baths. Pools and patios. Roofs and gutters. Attics and basements. With an affordable home renovation loan, you can take on pretty much any remodeling or repair project.
There’s something really satisfying about taking a great home, giving it some added attention, and making it even better. At Supreme Lending, we offer two loan programs that can get the job done. One of our Mortgage Professionals can help you decide which option might work best for you.
Homestyle Renovation
- Program offered through Fannie Mae mortgage company with loans administered through Supreme Lending
- Cosmetic improvements, including interiors, kitchens, baths, flooring, and remodeling
- Energy conservation improvements
- Repair structure damage, pay for additions or finish attics and basements
- Eliminate hazards
- Repair or replace roofing, gutters and downspouts
- Add landscaping or repair patios and terraces
- Install decks or fending
- Repair or add a detached garage
- Install or repair swimming pools
Program Highlights
- Loan is based on improved value
- Owner-occupied second homes and investment properties
- One loan, one closing and one monthly payment
- Project completion time up to 6 months
- Purchase or refinance
- Minimum credit score 680
- Consultant required if repairs exceed $15,000
FHA 203(K) Rehab Loans
The Federal Housing Administration is known for its exceptional mortgages for first-time homebuyers. But it also offers attractive home rehabilitation loans. Through this program, you can finance a home purchase plus needed renovation work through a single mortgage instead of applying for multiple loans.
- Fixed-rate, 30-year loan
- Minimum credit score of 620
- Maximum 55% debt-to-income for credit scores above 640
- Maximum 50% debt-to-income for credit scores 620-639
- Funds disbursed to the contractor as work is completed and inspected
- FHA 203(k) consultant required
- No funds are disbursed in advance
- Up to 5 disbursements can be made
- No maximum rehabilitation escrow amount
- Refinancing options available
refinance loans
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Refinancing an existing loan can leave your finances in a better place. Our Mortgage Professionals will gladly guide you through the fast and easy process.
How can refinancing benefit you? It depends on the details of your current mortgage and your long-term financial goals. But here are a few common reasons why people come to Supreme Lending to refinance their mortgage.
- Lock in lower interest rates, which can reduce your interest charges over the short term and the long haul of your home loan
- Change the repayment period, which can result in smaller monthly payments
- Eliminate debt more quickly, freeing up money for other needs
- Borrow against the equity they’ve built up in their home – known as “cashing out” – to gain funds for home improvements and other life expenses
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.