"Outside of the Box" Real Estate Financing and Unmatched Customer Service"
MAKE REAL ESTATE OWNERSHIP A REALITY
LOANS
We get the right mortgage options for you.
Unmatched customer service 24-hour guarantee Competitive interest rates and fees Quick closing times Make sense financing vs. Strict guideline lending 25 Years of Experience. Licensed Mortgage Navigators
Common Types of Loans
FHA Loans
Loan Details
The Federal Housing Administration (FHA), which is part of the U.S. Department of Housing and Urban Development (HUD), provides various loan programs that make getting a home loan easier for those with limited credit experience, a small down payment, limited funds to make monthly payments and/or for those who may not qualify for other types of loans.
These loans are offered through Omniscient, and are insured by the FHA. FHA loans typically offer more flexible underwriting guidelines than conventional loans.
ATTENTION: The federal government just reduced Mortgage Insurance Premiums on FHA loans. You may be able to qualify for more home, or enjoy reduced payments on a mortgage for the same home. Apply Now.
Features:
- Lower credit scores are acceptable
- Owner occupied properties only
- Up to 30-year fixed rate term
- Down payment as low as 3.5%
- Refinance with limited equity
- 100% gift funds may be used for down payment and closing costs
- No pre-payment penalties
- An effective refinancing option for current high-cost mortgages
- Non-occupant co-borrowers acceptable
Conventional Loans
Loan Details
Omniscient Real Estate Finance has a variety of conventional loan programs available with features, terms and benefits to meet our customers’ specific needs.
Features:
Maximum loan amounts (may vary by location):
- One family $510,400
Terms:
- 30-year fixed rate*
- Monthly principal and interest payment never changes
- Safety and security in knowing what your payment will be in the future
- 15-year fixed rate*
- Monthly principal and interest payment never changes
- Safety and security in knowing what your payment will be in the future
- Loan will be paid off in half the time as a 30-year fixed-rate loan
- While the monthly payment is higher than a 30-year fixed rate loan, the interest rate is typically less
*Note: An Omniscient Fixed-Rate Loan may be the right choice for a refinance if:
– The interest rate on your current loan is higher than what is available now
– The interest rate on your current loan is adjustable and a fixed rate loan is preferred
Jumbo Loans
Loan Details
A Jumbo Mortgage is a mortgage with a loan amount above conventional loan limits established by Fannie Mae and Freddie Mac.
The current limit on Fannie Mae and Freddie Mac jumbo is $729,750 depending on the location of the property.
Highlights:
- Loan amounts from $647,200 up to $3 million
- Finance up to 89.9% of the value of your home
- Purchase, rate/term refinance, and cash-out refinance options for primary residences
- Purchase and rate/term refinance options for second homes
Eligible Property Types:
- 1-2 unit properties
- high rise condos
VA Loans
Loan Details
Features:
- No down payment is required in most cases
- No mortgage insurance required
- Owner-occupied properties only
- Terms: 30-year fixed-rate
- Limit on the amount of origination fees, appraisal fees and closing costs
- No pre-payment penalties
USDA Loans
Loan Details
USDA Loan Program features:
- No down payment for qualified borrowers
- Specifically for low-income client looking to purchasea home in elgible rural areas.
- Funds can be used to build, repair, renovate or relocate a home
For USDA Refinances:
Low minimum credit score requirements:
- Minimum 550 credit score
Program detail:
- Available only in certain states*
- Maximum loan amount is determined by county maximum limits and pay off amount.
Other Loans
(DSCR) Investor program utilizes the property income to qualify the transaction. DSCR is available to investors purchasing or refinancing investment properties for business purposes. Available products include fully amortizing 30-Year Fixed Rate and 40-year Fixed Rate Interest Only. Products are offered with or without prepayment penalties subject to state limitations. Loan amounts from $100,000 to $3,500,000 are available.
A reverse mortgage is an increasingly popular consumer loan for senior homeowners age 62+. It allows these senior homeowners to tap into the home equity that has been built up. There are no monthly mortgage payments, but homeowners are still responsible for paying property taxes, insurance, and maintenance. The repayment of the loan is deferred until the homeowner dies, sells, or moves out of the home. Because there are no monthly mortgage payments and homeowners can generally receive their home equity as tax-free cash this particular type of loan has seen over 1,000,000 seniors take advantage.
Bank Statement Loans, allows qualified borrowers to provide their personal or business bank statements, instead of tax returns, to qualify for a loan up to $3M. And our Bank Statement Loans enable borrowers to go up to 90% LTV without having to pay MI, allowing them to keep their monthly payments lower.
Down Payment Assistance Programs.
Down Payment Assistance (DPA) programs help home buyers fund the down payments and closing costs associated with their home loans. Down Payment Assistance programs are available in conjunction with many state housing authorities to help meet borrowers’ needs for affordable housing.
These programs may be useful for first-time home buyers, borrowers with moderate incomes and those attending homeowner counseling.
Highlights:
- The DPA programs assist with the greatest barrier to owning a home, the down payment
Eligible Property Types:
- Eligibility varies by city and county
Get Started Today!
Beginning the loan application process? You're in the right place! Get started by setting up an account.
Maximum Loan Limits for 2023 – Conventional and FHA Programs
Conventional Loans
As low as 0% down payment, Owner occupied and Non-owner-occupied financing. The Federal Housing Finance Agency (FHFA) has issued the following maximum first mortgage loan limits that will apply to conventional loans for acquisition by Fannie Mae / Freddie Mac with a note date on and after January 1, 2024.
2024 Conventional Loan Limits
FHA Loans
For calendar year 2024, the Department of Housing and Urban Development (HUD) announced the following maximum first mortgage loan limits that will apply to FHA loans with case numbers assigned on and after
January 1, 2024 through December 31, 2024:
2024 FHA Loan Limits
Please Note: These new limits apply to FHA loans with case numbers assigned on and after January 1, 2024 through December 31, 2024. will accept loan submissions with a 2024 higher loan amount and loans will be conditioned for the case information to be opened on or after January 1, 2024. This may cause delays in ordering the appraisal as there will not be a case number for you to provide the appraiser until after the case is ordered.
Questions and Answers
What is the difference between an Interest Rate & an Annual Percentage Rate?
While your interest rate is the rate reflected on your Promissory Note, the APR is a universal measurement that can assist you in comparing the differing costs of mortgage loans offered by different mortgage lenders.
What are “pre-payment penalties” and why would I have to pay them?
We recommend you think twice before agreeing to mortgage containing a pre-payment penalty. No matter how enticing a lower rate or other terms may be, in the long run you may very well be better off paying the higher rate. Why? Because if you refinance or move during the pre-payment penalty period, such fees can be steep. It is Omniscient Real Estate Finance policy to not make mortgage loans that carry a pre-payment penalty.
Are Omniscients Loan Officers licensed?
Should I refinance?
What if I have a second mortgage on my home? Can I still refinance?
How much can I afford?
How much of a down payment will I need to buy a home?
Will I have to pay Private Mortgage Insurance (PMI)?
WHAT WE DO
Ominiscient Out of the Box Real Estate Financing
Omniscient real estate finance is a true “make since” mortgage broker versus a strict guideline lender. Everyone’s situation is different. Omniscient will provide tailored made financing or game plans for perfect or less than perfect credit within 24 hours. Whether it’s today or the near future you will receive unmatched customer service, rates, fees and the most innovative lending portfolio in the country guaranteed!
100 mortgage programs
We provide an innovative lending portfolio
Competitive rates
We partner with the top wholesale lenders in the country
24 hour guarantee
We provide phone calls, loan options and or game plans within 24 hours,
Get Started Today!
Beginning the loan application process? You're in the right place! Get started by setting up an account.
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