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"The Ultimate Solution for Your Residential Home Buying Needs" 

Mortgage And Real Estate Help is a premier mortgage broker in Grand Rapids, MI offering a wide range of home loan options for conventional, FHA, USDA, and VA mortgages. Whether you’re looking to purchase a new home, refinance your current mortgage, or get a cash-out loan, our team of loan originators and realtors is committed to providing exceptional service and communication throughout the entire process.

Our goal as loan originators and realtors is to help you find the right home and loan option for your unique financial situation. We work with lending partners to provide some of the industry’s lowest rates, ensuring that you get the best possible deal on your home loan. Our home loan options are available to borrowers with perfect credit, as well as those with lower credit scores.

At Mortgage And Real Estate Help, we understand that there’s no one-size-fits-all solution when it comes to home loans. That’s why we offer a variety of loan options to help you find the best fit for your needs.

Our Loan Options Include:

  • Conventional Home Mortgage Loans:

Best for borrowers with a good credit score. These loans can be used for a primary home, second home, or investment property.

Additional Detail: 

 

A good credit score is a crucial factor when it comes to borrowing money, but it can make a significant difference in the terms and conditions of the loans you are approved for. Lenders are typically looking for a credit score of 620 or above, and borrowers with a good credit score are seen as less risky by lenders. As a result, they may be offered lower interest rates in more favorable loan terms. 

 

One type of loan that is often best suited for borrowers with a good credit score is a mortgage. Mortgages are loans that are used to purchase a property, and they can be used for a primary home, second home, or investment property. Turning to the specific terms of the mortgage, borrowers may be required to make a down payment, pay closing cost, and provide documentation such as proof of income and employment. 

 

If you have a good credit score, you may be able to qualify for a mortgage with a lower interest rate, which can save you thousands of dollars over the life of the loan. Additionally, you may be able to qualify for a larger loan amount, which can allow you to purchase a more expensive property or invest in a more valuable investment property. 

 

It is worth noting that even if you have a good credit score, there are still other factors that can impact your ability to qualify for a mortgage or other loan. Lenders will also consider your income, employment history, and other debts when determining your eligibility in terms of the loan. In summary, if you have a good credit score and you are looking to purchase a property or invest in real estate, a good mortgage may be the best option for you. Be sure to shop around and compare loan options from different lenders to ensure that you are getting the best possible terms and rates. 

 

  •  Jumbo Home Mortgage Loans:

Best for borrowers with excellent credit scores looking to buy an expensive home. These loans are outside FHFA limits.

Additional Detail:

Jumbo home mortgage loans are a type of mortgage that is designed for borrowers with excellent credit scores who are looking to buy an expensive home. These loans are typically used for properties that exceed the conforming loan limits set by the Federal Housing financing agency (FHFA). Lenders who offer jumbo home mortgage loans are typically looking for borrowers with excellent credit scores, which are scores of 720 or higher. Powers with excellent credit scores are seen as less risky by lenders and may be offered lower interest rates and more favorable loan terms. However, because jumbo home mortgage loans are outside of FHFA limits, they may be subject to higher interest rates and more stringent qualification requirements. 

 Jumbo home mortgage loans can be used to purchase a primary home, a second home, or an investment property, and they may require larger down payment than a standard conforming mortgage. Borrowers may also need to provide additional documentation, such as proof of assets, to qualify for jumbo home mortgage loans. 

 

If you are considering a jumbo home mortgage loan, it is important to shop around and compare loan options from different lenders. You may also want to work with a mortgage professional who can help you navigate the qualification requirements and find the best loan for your needs. 

 

In summary, jumbo home mortgage loans are a good option for borrowers with excellent credit scores who are looking to purchase an expensive home that exceeds the conforming loan limits set by the FHFA However, because these loans are outside of the FHFA limits, they may require a larger down payment, higher interest rates, and more stringent qualification requirements than its standard conforming mortgage. Lenders offering jumbo home mortgage loans typically look for borrowers with credit scores of 720 or higher. 

  

  • FHA Government-Insured Home Loans:

Best for borrowers who want to make homeownership possible without a large down payment or great credit scores.

Additional Detail:

Government-insured home loans are a type of mortgage that is backed by the government to make homeownership more accessible for people who may have lower credit scores or a limited savings for a down payment. These loans are considered more accessible because they typically need low down payments and have more lenient credit score requirements than conventional loans.  

Lenders who offer government-insured home loans, such as the Federal Housing Administration (FHA) and the U.S. Department of Veterans Affairs (VA) typically expect borrowers to have a minimum credit score of around 580. However, some lenders may require a higher credit score. It is important to note that even with government backing, borrowers will still need to meet certain requirements, such as proof of income and employment, and may be needed to pay mortgage insurance premiums. 

 

  • USDA Home Mortgage Loans:

Best for moderate-to-low-income borrowers looking to buy homes in rural areas.

Additional Detail:

USDA home mortgage loans are a type of mortgage that is offered by the United States Department of Agriculture USDA to help moderate-to-low-income borrowers buy homes in rural areas. These loans are designed to promote rural development and are considered more accessible because they offer low-interest rates and require No Down Payment. 

 To qualify for a USDA home mortgage loan, borrowers must meet certain requirements such as income limits and the property must be in an eligible rural area. The credit score requirements for USDA home mortgage loans are more lenient compared to conventional loans, with some Lenders accepting scores as low as 640 down to 620. However, borrowers with credit scores lower than 640 may still be considered for the loan but will require added documentation and may face higher interest rates. 

 

It is important to note that even with the backing of the USDA, borrowers will still need to meet certain requirements such as proof of income and employment. Additionally, USDA home mortgage loans also require borrowers to pay mortgage insurance premiums. 

 

  • Fixed-Rate Home Mortgage Loans:

Best for borrowers who want the predictability of the same payments throughout the entire loan period.

Additional Detail:

Fixed-rate home mortgage loans are a type of mortgage that offers borrowers a predictable, consistent payment schedule throughout the entire loan period. These loans are designed to supply stability and security for borrowers who prefer to know exactly how much they will pay each month toward their mortgage. 

 Lenders who offer fixed-rate home mortgage loans typically require borrowers to have a good credit score, with most lenders requiring a score of at least 620. However, some lenders may require a higher score for more favorable interest rates and loan terms. 

 

Fixed-rate home mortgage loans are available in a variety of terms, ranging from 10 to 30 years. The interest rate for these loans is set at the time of closing and stays the same throughout the entire loan period, which means that borrowers will have the same monthly mortgage payment for the life of the loan. 

 

It is important to note that while fixed-rate home mortgage loans offer predictability and stability, they may have higher interest rates compared to other types of loans, such as adjustable-rate mortgages. Borrowers should carefully consider their financial situation and future plans before choosing a fixed-rate mortgage loan.

 

  • Adjustable-Rate Home Mortgage Loan:

Best for borrowers who do not plan to stay in the home for a long time and are comfortable with the risk of larger payments throughout the loan period.

Additional Detail:

An adjustable-rate home mortgage loan is a type of mortgage that offers borrowers a lower initial interest rate compared to fixed-rate loans, with the understanding that the interest rate may increase or decrease over time based on market conditions. These loans are designed for borrowers who are comfortable with the risk of larger payments throughout the loan period and do not plan to stay in the home for a long time. 

 Lenders who offer adjustable-rate home mortgage loans typically require borrowers to have a good credit score, with most lenders requiring a score of at least 620. However, some lenders may require a higher score for more favorable interest rates and loan terms. 

Adjustable-rate home mortgage loans typically have a first fixed-rate period, which can range from one to 10 years, during which the interest rate still is the same. After the fixed rate period ends, the interest rate can fluctuate based on market conditions, which means that the borrowers may experience larger payments over time. 

 

It is important to note that adjustable-rate home mortgage loans offer more flexibility compared to fixed-rate loans, but also carry more risk. Borrowers should carefully consider their financial situation and future plans before choosing an adjustable-rate mortgage loan. It is important to understand the loan terms and how the interest rate can fluctuate over time. 

 

Let us help you with the purchase of your dream Home!

No matter what your financial situation is, Mortgage And Real Estate Help is here to help you find the best loan option for your needs. Our team of experts can guide you through the home loan process and answer any questions you may have along the way.

As your residential mortgage solution provider, we are committed to providing exceptional service and communication throughout the entire process. Contact us today to discuss your home loan needs and find out how we can help you achieve your homeownership goals.

 Mortgage And Real Estate Help is the Residential Mortgage Solution Provider.

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