Products

Conventional Loans

  • Put down as little as 3% for fixed-rate loans
  • 620 minmum credit score
  • Cash-out to 80%
  • Available for owner occupied, 2nd home, and investment properties

Jumbo Loans

  • Down payment as low as 10%
  • Loan amounts up to $5 million
  • Up to 85% Loan to Value without mortgage insurance
  • Minimal reserve requirements

FHA Loans

  • Put down as little as 3.5%
  • Credit scores below 620 may be accepted
  • Minimal waiting periods following bankruptcy/foreclosure
  • Expanded debt-to-income ratios

VA Loans

  • 0% down payment regardless of loan amount
  • Expanded debt-to-income ratios
  • No monthly Private Mortgage Insurance
  • Minimal fees

Non-QM Loans

  • Short waiting periods following bankruptcy/foreclosure
  • Expanded debt-to-income ratios
  • Bank statement programs for self-employed customers
  • Interest-only options

USDA Loans

  • 0% down payment with full entitlement
  • Low / Moderate income may qualify
  • Rural properties only (certain geographic eligibility requirements apply)

Conventional Loans

Conventional loans are not part of any specific government program. They often cost less than other loans but can have stricter requirements. We offer both conforming loans (hyperlink to definition) and nonconforming loans.

Jumbo Loans

A “jumbo mortgage” is a loan that exceeds a particular county’s loan limits. Jumbo mortgages usually have stricter underwriting guidelines because they are not backed by Fannie Mae or Freddie Mac, but are instead held or securitized by large banks or private funds. Stricter guidelines include tighter debt ratio requirements, larger down payment and reserve requirements, and tighter credit standards.

FHA Loans

Federal Housing Administration (FHA) mortgages are insured by the FHA and offer more flexible down payment and underwriting guidelines. They are not just for first-time homebuyers but are available for all borrowers who qualify for both purchases and refinances.

VA Loans

Veterans Administration (VA) mortgages are guaranteed by the VA with very flexible underwriting and down payment guidelines for veterans and their spouses.

Non-QM Loans

“QM” stands for “qualified mortgage,” a regulatory term associated with most of the mortgages underwritten today, including FHA, VA, Jumbo and Fannie Mae and Freddie Mac loans. For borrowers with unique circumstances such as self-employed borrowers who don’t show a lot of income on their tax returns, Non-QM loans represent a great opportunity to still obtain mortgage financing.

The rates and fees for Non-QM loans are typically higher than they are for QM loans.

USDA Loans

Borrowers who live in rural areas had additional options thanks to a program administered by the United States Department of Agriculture (USDA). For buyers in these areas who face challenges such as a low credit score or high debt a USDA loan may open the door to homeownership. Low- to mid-income applicants who qualify for a USDA loan will not need to make a down payment on the purchase of their home because the federal government finances the entire home value. Lenders are able to offer low interest rates on these types of loans, as repayment is guaranteed by the government even if the borrower defaults.

Borrowers are required to purchase mortgage insurance on a USDA loan and their debt must not exceed 41% of total income.

Questions?

Call us today to discuss which loan program is right for you.

800.896.9374

Testimonials

"Brian and his team did a great job for my loan. I appreciate all the work and effort that they put into my loan. I would work with Brian and his team in the future."
JimSan Diego, CA
Jim
"Moses was diligent, thorough and thoughtful while we worked together to find the best refi possible. From initial conversation to close, we were well under 30 days. He and the team were highly communicative and would recommend him to family and friends."
MJScottsdale, AZ
MJ
I’m not gonna lie, I loan shop. Kevin won, period. He offered the best rate and APR (very affordable loan cost). Kevin was courteous and assuring. Would highly recommend Watermark/Kevin.
AndreaValley, WA
Andrea
"Martin was extremely professional and I appreciate how quickly he replied to emails. He met and exceeded my expectations. Watermark was a great company to works with, the entire team."
MoebGold Beach, OR
Moeb
"Highly responsive and patient. Explained the entire process up front and no surprises at the end. I was a bit nervous about the entire online process in the beginning but James eased my mind by keeping in touch and answering my many questions. Highly recommend!"
Anna MarieTampa, FL
Anna Marie
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