Lending in 48 states a Fannie Mae and Ginnie seller/servicers, PRMG has a wide ranging portfolio of mortgage products to meet all your lending needs.

FHA Loans have been use to provide people with the opportunity to become homeowners since 1934. The Federal Housing Administration, which is part of Housing and Urban Development Department insures the loan so you receive a better mortgage offer.

FHA loans have low down payments, low closing costs and easy credit qualification process.

 

 

 

 

 

 

 

 

 

VA Loans  helps Servicemembers, Veterans, and eligible surviving spouses become homeowners. As part of the Veterans Affairs mission, is to serve veterans and, they provide a home loan guaranty benefit and other housing-related programs to help veterans buy, build, repair, retain, or adapt a home for their own personal occupancy.

VA Home Loans are provided by private lenders, such as banks and mortgage companies. VA guarantees a portion of the loan, enabling the lender to provide you with more favorable terms.

 

 

 

USDA (United States Department of Agriculture), program assists approved lenders in providing low- and moderate-income households the opportunity to own adequate, modest, decent, safe and sanitary dwellings as their primary residence in eligible rural areas. Eligible applicants may build, rehabilitate, improve or relocate a dwelling in an eligible rural area. The program provides a 90% loan note guarantee to approved lenders in order to reduce the risk of extending 100% loans to eligible rural home buyers.

 

 

 

Conventional loan is a mortgage that is not guaranteed or insured by any government agency, including the Federal Housing Administration (FHA), the  Farmers Home Administration (FmHA) and the Department of Veterans Affairs (VA). It is typically fixed in its terms and rate. PRMG offers unique Conventional loan products for all borrowers.

 

 

 

 

Jumbo loan, also known as a jumbo mortgage, is a type of financing that exceeds the limits set by the Federal Housing Finance Agency (FHFA). So, unlike conventional mortgages, a jumbo loan is not eligible to be purchased, guaranteed or securitized by Fannie Mae or Freddie Mac. Designed to finance luxury properties and homes in highly competitive local real estate markets, jumbo mortgages come with unique underwriting requirements and tax implications.

 

 

 

 

DPA Down Payment Assistance programs help homebuyers with loans or grants that reduce the amount they need to save for a down payment. There are four main types of DPA:

  1. Loans (financing above and beyond the primary mortgage) that have to be paid down in parallel with your first (main) mortgage
  2. Loans with deferred payments, which only have to be paid (in full) when you move, sell, refinance or finish paying down your first mortgage
  3. Loans that are forgiven over a set number of years, and only need repaying if you move, sell, refinance or finish paying down your first mortgage while some or all the funds are yet to be forgiven
  4. Grants, which are essentially gifts that never have to be repaid, although some programs make you pay a slightly                                                              higher mortgage rate to cover the cost

Programs vary by zip code, but you’re likely to get more money and qualify more easily if you’re buying in a so-called “target area.

Reverse Mortgage is a loan available to homeowners, 62 years or older, that allows them to convert part of the equity in their homes into cash. 

The product was conceived as a means to help retirees with limited income use the accumulated wealth in their homes to cover basic monthly living expenses and pay for health care. However, there is no restriction how reverse mortgage proceeds can be used.

The loan is called a reverse mortgage because instead of making monthly payments to a lender, as with a traditional mortgage, the lender makes payments to the borrower.

The borrower is not required to pay back the loan until the home is sold or otherwise vacated.  As long as the borrower lives in the home he or she is not required to make any monthly payments towards the loan balance. The borrower must remain current on property taxes, homeowners insurance and homeowners association dues (if applicable).