If you are:
·  Considering buying a home later in life
·  A foreign national looking to purchase a home in the US
·  Building a brand new home

you will want the expert guidance of an FM Home Loans professional and licensed loan specialist to ensure you receive the very best loan available to you.

Reverse Mortgages
With a reverse mortgage, senior homeowners aged 62 and older can convert sizable equity to income and can defer full repayment of the loan until they sell, move or pass on. Reverse mortgages may be received as lump sums, lines of credit or a combination. If needs change over time, the payout schedule can change as well, ensuring a reliable source of worry-free income.

Foreign National
Non-citizens of the United States are subject to added regulations and higher down payments in order to buy a home. When considering buying property in the US, it’s important to contact a firm that specializes in home loans to non-resident aliens and foreign nationals. The highly experienced, professional and licensed loan specialists at FM Home Loans have helped many foreign nationals with their purchases.

Second Mortgages
Once a house is purchased, homeowners may take a second mortgage, also known as a home equity loan or home equity line of credit. Common reasons to do this are to repair or renovate a home to increase its value, or to consolidate debt. Home equity loans usually have lower interest rates and longer repayment terms than consumer loans or credit cards and may lower overall monthly payments and interest. Additionally, interest paid on a second mortgage may be tax deductible.

Construction Loans
A construction loan is a niche financial product that is great for new-home builders who do not have a finished home to use as collateral. Because of this added risk to the lender, construction loans typically come with a rigorous set of credit requirements for both the borrower and the builder. In many instances, money above what is needed for the project is borrowed and intermittently released to pay the builder until the home is finished. Your FM Home Loans professional and licensed loan originator will direct you to the best construction loan for your scenario.