Residential Mortgage

Single Family, Condo, Townhouse, Co-op & Multi Family House

We are offering home loan programs in collaboration with Loan Factory. Loan Factory is a highly reputable mortgage brokerage company that has been operating in the United States for over 18 years, boasting a perfect 5-star Google rating with over 10,000 reviews. The company ranks among the top 1 or 2 home loan brokerages nationwide, comparing and providing competitive low interest rates and tailored terms for each client from a selection of 240 diverse mortgage loan products.


With our 20 years of experience in real estate and financial lending, combined with our dedication and integrity, we utilize Loan Factory’s cutting-edge technology, systems, and excellent programs to provide the best possible service to each and every customer. We are committed to helping you take the first step toward achieving your American Dream.

Types of Home Mortgages

Conventional Loan

  • QM = Qualified Mortgage (Standard loan guidelines set by the government)

  • Operated by private financial institutions without government backing

  • Based on Fannie Mae and Freddie Mac guidelines

  • Available as Fixed Rate or Adjustable Rate (ARM)

  • Minimum down payment starts at 3%

  • No PMI required with a down payment of 20% or more

  • Higher credit scores qualify for lower interest rates

  • Minimum credit score: 620

  • Requires 2 years of income documentation

  • Eligible for primary residence, second home, or investment property

  • Repayment terms: 15 to 30 years

 
 
 
 

Non-QM Loan

  • Non-QM = Loans that do not meet standard (Qualified Mortgage) guidelines

  • Uses alternative documents instead of traditional tax returns (1040, W-2), such as bank statements, P&L, or rental income – ideal for self-employed or freelancers

  • Bank Statement Loan – Income verified through bank deposits

  • Asset Depletion Loan – Income calculated based on liquid assets

  • DSCR Loan – Qualification based on rental income only (for investment properties)

  • Foreign National Loan – Loans for non-U.S. residents

  • Interest-Only Loan – Pay only interest for the first few years

  • Easier approval criteria, but interest rates are slightly higher than conventional loans

  • Lower credit scores may be accepted

  • Down payment typically ranges from 10% to 30%, depending on the program

FHA Loan

  • Federal Housing Administration (FHA) – Government-Backed Mortgage Program

  • Allows home purchase with a low down payment

  • Designed for borrowers with lower credit scores

  • 3.5% down payment with credit score of 580 or higher

  • 10% down payment with credit score of 500 or higher

  • MIP (Mortgage Insurance Premium) is required

  • Ideal for first-time homebuyers

  • Renovation costs can be included

  • Offers some of the lowest interest rates

  • Loan limits vary by county

USDA Loan

  • USDA Rural Housing Loan Program

  • Offered by the U.S. Department of Agriculture (USDA)

  • Designed for rural and low-population areas

  • Allows home purchase with no down payment

  • Must meet income limits and regional eligibility requirements

  • Only available for primary residence (not for investment properties)

  • Borrower must be a U.S. citizen or legal resident

 
 
 
 
 
 

VA Loan

  • Veterans Affairs (VA) – Government-Backed Mortgage Program

  • Requires a VA Certificate of Eligibility (COE)
    → Applicants must obtain a certificate from the VA confirming eligibility

  • Available to active-duty service members, veterans, and surviving spouses

  • No down payment required

  • No mortgage insurance (MIP)

  • Flexible credit requirements – 580 or higher

  • Offers some of the lowest interest rates

 
 
 
 

Instant Quick Quote

You can check today’s mortgage rates instantly in 3 different ways.
Compare interest rates, fees, monthly payments, and closing costs for various programs. No documents needed — just answer a few quick questions to get your quote right away. If you need help while filling out the questions, call us at (631) 624-4480.

 

1. Scan the QR code with your phone to use the Loan Factory app

2. Click the blue button below labeled "Mortgage Rate - Instant Quote"

Mortgage Rate - Instant Quote

3. Call (631) 624-4480

Home Mortgage Blog by Terry