Loan programs
Every borrower's file is different — income structure, credit history, down payment, and the property itself all shape which program fits best. Below is a summary of the programs Southline Mortgage shops on your behalf; final eligibility depends on lender guidelines and underwriting.
Loans that meet Fannie Mae and Freddie Mac guidelines, generally offering competitive pricing for borrowers with solid credit. Down payments can start as low as 3% for qualified first-time buyers, with private mortgage insurance typically required below 20% down.
Government-insured financing designed for more flexible credit and down payment requirements, often used by first-time buyers. Down payments can start as low as 3.5% with qualifying credit, and guidelines are generally more forgiving of past credit events.
Financing for eligible active-duty service members, veterans, and surviving spouses, typically offering no down payment requirement and no monthly mortgage insurance. Eligibility is established through a Certificate of Eligibility.
Zero-down financing for eligible borrowers purchasing in USDA-designated rural and suburban areas, subject to household income limits and property location requirements.
Financing for loan amounts above conforming limits, used for higher-value purchases and refinances. Underwriting is typically more conservative, with attention to reserves, credit depth, and debt-to-income ratio.
Alternative-documentation programs built for self-employed borrowers, gig-income earners, and investors who don't fit standard income-verification guidelines — using bank statements, asset depletion, or other non-traditional documentation.
Refinancing to lower a rate, shorten or extend a term, remove mortgage insurance, or draw equity out as cash for renovation, debt consolidation, or other goals.
Loans that combine purchase or refinance with funds for renovation, rolled into a single mortgage rather than requiring a separate construction loan.
Financing for rental and investment property, including debt-service-coverage-ratio (DSCR) loans qualified on the property's rental income rather than the borrower's personal income.
A note on eligibility
Program availability, rates, and terms vary by lender and are subject to borrower qualification, credit approval, and underwriting guidelines. Listing a program here is not a guarantee of approval or availability. Speak with Southline Mortgage directly for current terms.
That's the first conversation. Southline will walk through your goals and file and narrow it down from there.