CONVENTIONAL MORTGAGE
A Conventional Mortgage adheres to the guidelines of Fannie Mae and Freddie Mac – two government-created companies built to buy and sell mortgages. It is typically paid monthly over a 30-year time-framebut additional options are also available. Factors that help determine the interest rate and payment schedule a borrower can qualify for are the applicant’s credit history, loan amount and down payment on the property.
A Conventional Mortgage offers a set interest rate so borrowers always know the pay schedule and allows homeowners to eventually refinance.
REVERSE MORTGAGE (HECM)
A Reverse Mortgage or Home Equity Conversion Mortgage (HECM) is an FHA insured mortgage that converts the accrued value of a borrower’s current monthly mortgage statements into either cash payment(s) or a line of credit. There is freedom and flexibility in this loan option that other standard loan options cannot offer making it a strong option for borrowers 62 years or older.
FHA LOAN
FHA loans are backed by the government and insured by the Federal Housing Administration. Neither credit nor bankruptcy affects these loans. FHA loans are fixed-rate or adjustable rate mortgages andoffer low down payments, lower minimum credit qualification, 30-year fixed-rate options, closing costs regulated by the U.S. Department of Housing and Urban Development and more.
JUMBO MORTGAGE
A Jumbo Mortgage loan is one that exceeds the traditional loan limit amount for a single family home. Jumbo loans are available for primary residences and second homes, as well as vacation homes and investment properties at fixed-rate or adjustable-rate loans.
VA MORTGAGE
Through dedicated service to our country, military service members and veterans qualify for an opportunity to apply for a VA Loan - a mortgage that provides the option for qualifying veterans to purchase a primary residence without putting money down towards the sale price of the home. A Fort Funding Loan Officer is available to guide you through the service requirementsto apply for a VA Mortgage.
USDA MORTGAGE
A USDA Mortgage is a loan program designed to benefit rural residents. It is a 30-year fixed interest loan based on the maximum amount a homeowner can afford and can include closing costs, title services, legal fees, cost of escrow account establishment, etc.as long as the appraised value of the property is higher than the sale price. USDA mortgage loans do not require private mortgage insurance and are accepted by Fannie Mae and Freddie Mac. They can be used for purchase or home repairs.
203K MORTGAGE
This loan allows buyers to finance a predetermined amount of funds into their mortgage to be used for repairs, improvements or upgrades to the home. The loan is divided into two parts: Standard and Streamline. A Standard 203K Mortgage is not capped at $35,000 and do not require that the borrower live in the home whereas Streamlines require that the homeowner be able to live in the house.
We have many more loan options available. Speak with a Fort Funding Corp. Loan Officer to find your perfect fit.
What Others are Saying
About Fort Funding?
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Why Choose Us?
(It Might Surprise You.)
You have a lot of options when it comes to choosing your mortgage lender. That’s why here at Fort Funding, work hard to give every single customer the most incredible lending experience possible.
This might surprise you, but, we go against the grain of the mortgage industry. Why? Because nowadays, so many lenders have given up quality for quantity– and it’s customers like you who suffer. That’s not us, and it never will be.
Since we began in our small office in Brooklyn in 1993, we’ve treated every client like family, and reimagined what a first-class, personal mortgage experience can look like.
If you’re looking for a personalized experience we’re excited to show you the hundreds of loan options available at incredible rates.
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718-921-0200
NEW YORK
NMLS #39463.
License #RMB 209074
Registered Mortgage Broker - New York State Department of Financial Services. All loans arranged through third party providers.
NEW JERSEY
NMLS #39463
New Jersey Residential Mortgage Broker. Licensed by the NJ Department of Banking and Insurance. We do not make any mortgage commitments or fund any loans. All loans arranged through third party providers.
CONNECTICUT
NMLS#39463.
License #20264
Connecticut Mortgage Broker - Connecticut Department of Banking. Mortgage Broker only, not a Mortgage Lender or Mortgage Correspondent Lender.
PENNSYLVANIA
NMLS #39463.
License #59975
Licensed by the Pennsylvania Department of Banking and Securities.
FLORIDA
NMLS#39463.
Lender License #MBR2367
Licensed by the Florida Office of Financial Regulation.
CALIFORNIA
NMLS#39463.
License/Registration # 60DB0-148018
Licensed Under the California Department of Financial Protection and Innovation.
California-DFPI Financing Law License
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