Loans Offered
Reith Types of Loans Offered
conventional loan
A conventional loan is a mortgage not insured or guaranteed by the government, typically requiring higher credit scores and down payments. It comes in conforming (meeting Fannie Mae/Freddie Mac limits) and non-conforming types. Conventional loans offer flexible terms, competitive interest rates, and are ideal for borrowers with strong financial profiles.
FHA loan
An FHA loan is a government-backed mortgage insured by the Federal Housing Administration, designed for low-to-moderate-income borrowers. It requires lower credit scores and down payments (as low as 3.5%). FHA loans have more flexible qualification guidelines but include mortgage insurance premiums (MIP) to protect lenders against defaults.
VA loan
A VA loan is a government-backed mortgage for eligible veterans, active-duty service members, and surviving spouses, guaranteed by the Department of Veterans Affairs. It offers zero down payment, no private mortgage insurance (PMI), competitive interest rates, and flexible credit requirements, making homeownership more accessible for military personnel and their families.
USDA loan
A USDA loan is a government-backed mortgage by the U.S. Department of Agriculture, designed for low-to-moderate-income homebuyers in eligible rural and suburban areas. It offers zero down payment, low interest rates, and reduced mortgage insurance costs, making homeownership more affordable for qualified borrowers meeting income and location requirements.
jumbo loan
A jumbo loan is a mortgage that exceeds Fannie Mae and Freddie Mac’s conforming loan limits, making it ideal for high-value properties. It requires higher credit scores, larger down payments, and lower debt-to-income ratios. Jumbo loans often have stricter underwriting but offer competitive rates for well-qualified borrowers.
fix and flip loan
A fix and flip loan is a short-term financing option for real estate investors buying distressed properties to renovate and resell for profit. These loans offer quick funding, interest-only payments, and flexible terms, but have higher interest rates and require a solid exit strategy to maximize returns.
Rental loans
Rental loans are long-term financing options for real estate investors purchasing or refinancing income-generating properties. These loans offer fixed or adjustable rates, flexible terms, and qualification based on rental income rather than personal finances. They help investors build portfolios by providing steady cash flow with lower down payments and competitive terms.
construction loan
A construction loan is a short-term financing option that funds home or property building projects. It provides money in phases as construction progresses, requiring interest-only payments during the build. Once completed, it can be refinanced into a mortgage. These loans have higher interest rates and require detailed project plans.
commercial loan
A commercial loan is a financing option for businesses to fund real estate, equipment, expansion, or operational costs. Offered by banks and private lenders, they come in various forms, including term loans, SBA loans, and lines of credit. Commercial loans require strong financials, collateral, and a solid repayment plan.
HELOC
A Home Equity Line of Credit (HELOC) is a revolving credit line secured by a homeowner’s equity. It allows flexible borrowing and repayment, similar to a credit card, with variable interest rates. HELOCs are ideal for home improvements, debt consolidation, or emergencies, but require good credit and responsible financial management.
reverse mortgage
A reverse mortgage is a loan for homeowners aged 62+, allowing them to convert home equity into cash without monthly payments. The loan is repaid when the borrower sells, moves, or passes away. It provides financial flexibility but reduces home equity over time and includes interest and fees.
cash-out
A cash-out refinance replaces an existing mortgage with a new, larger loan, allowing homeowners to withdraw the difference in cash. It’s used for home improvements, debt consolidation, or investments. This option offers lower rates than personal loans, but increases the loan balance and may extend the repayment period.
