There’s A Loan Just For You.

Every homebuyer is different because each homebuyer has different needs and different financial goals. That’s why Co/LAB Lending offers a variety of different home financing options.

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FRANCHISE INFO

Find A Loan That Best Fits Your Needs Below:

I have a below average

Credit Score

FHA Home Loan

When applying for a loan, several factors are considered, including: your credit score, length of your credit history, and the amount you can afford for a down payment. With less-than-perfect credit, Co/LAB Lending may be able to help you buy your home with an FHA loan. To qualify, your credit score needs to be at least 580. If you’re credit score is lower, you may still be in luck!

By placing 10% down, you may still be considered. Moreover, if it’s a lack of credit history that is causing your score to be low, you can provide documentation of utility and rent payments to prove financial fidelity. These non-traditional forms of credit may improve the probability of loan approval.

I am retired or

I’m retiring soon

Home Equity Conversion Loan

Co/LAB Lending offers reverse mortgages to homeowners who are 62 years or older and have limited income, but have accumulated equity in their homes. Three types of reverse mortgages exist: single purpose mortgages, home equity conversion mortgages, and private proprietary reverse mortgages.

Aptly named, this loan requires the lender to make payments to the borrower; the “reverse” of a traditional mortgage. Essentially, you’re able to convert a portion of your home equity into cash if you own your house outright. Borrowers are still required to pay property taxes and applicable HOA fees and maintain the property.

I need extra money

for Renovations

FHA 203K Loan

Co/LAB Lending offers both the Standard 203k and the Streamlined 203k. Each version has similar features to a FHA mortgage, but are specialized for renovations and construction. Backed by the Federal Housing Administration, these loans are available to both buyers and refinancing households, allowing borrowers to purchase a home in need of work and letting homeowners borrow for renovation costs.

Fannie Mae Homestyle® Loan

When making renovations to your home, avoid a second mortgage by opting for a HSR loan with Co/LAB Lending. Because there is no need to occupy the house you’re improving, it’s perfect for vacation homes and investment properties. The list of eligible renovations is extensive and the stipulations are simple: the improvements must add value to the home and must be affixed to the property.

I need money

to buy my second house

Home Equity Loan

Co/LAB Lending offers home equity loans for homebuyers looking to find their fantasy getaway or a smart investment property. With this loan, a borrower can use the equity of their home as collateral.

Conventional Loan

Co/LAB Lending recommends conventional loans for those who have solid credit (701 and above). These loans are not backed by the federal government but conform to loan limits set by the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation (Fannie Mae & Freddie Mac). Generally, unless you’re making a down payment of 20% or higher, mortgage insurance is needed.

I want a loan with

no down payment

USDA Loans

Great for home buyers with low to moderate income who have little or no money for a down payment. Co/LAB Lending can assist qualified borrowers looking to buy a home that’s located in a rural area as designated by the USDA. These loans can also be used for home repairs, upgrades, and moderate renovations.

I am a service member

or veteran

VA Loans

Guaranteed by the U.S. Department of Veterans Affairs, Co/LAB Lending can help service members, veterans, and their spouses find long-term financing to buy or build their dream home. VA loans offer 100% financing without the need for mortgage insurance. If you have a valid Certificate of Eligibility, this may be the right loan product for you.

I want

the lowest interest rate

ARM

An adjustable rate mortgage has interest rates that adjust over a set period of time. For example, a 10/1 ARM will maintain your introductory interest rate for 10 years and then adjust for the remaining 20 years. Generally, the introductory interest rate is significantly lower than a fixed rate mortgage which means your monthly rate is going to be lower for that introductory period as well. If you’re the mover-and-shaker type and plan on occupying the property for a short period of time (5-10 years), ask Co/LAB Lending about this loan with a low introductory interest rate.

Schedule Your FREE

Mortgage Consultation Today!

Talk to a Co/LAB Lending Loan Officer to discuss your mortgage options. Our team is happy to answer your questions and help guide you to the perfect mortgage options.

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Are You Ready To Apply and

Find Out If You Qualify?

Take the first step and apply now. Getting started is easy and it only takes a few minutes. Once completed our team will deliver a decision in less than 48 hrs.

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Have questions? Still not sure what loan is right for you?

One of our experienced licensed loan officers will answer all your questions and help you find the perfect loan.

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