Lexington Mortgage Center (NMLS #224604)

Programs

At Lexington Mortgage Center, we offer many different loan programs to suit your financial needs. Our goal is help you through knowledge, experience, and exceptional customer service.

Listed below are just a few of the programs we have to offer (all loans are subject to underwriting approval):

FHA Loans

FHA loans are a great choice for those who are first-time homebuyers or buyers who have less-than-perfect credit. FHA loans:

  • Require at least a 580 credit score.
  • Minimum 3.5% down payment for those who qualify.
  • Mortgage Insurance Premium (MIP) is required.
  • High debt-to-income (DTI) ratio.
  • Primary residence required.
  • Must have proof of employment and income.

VA Loans

We care about our veterans. Veteran Affairs (VA) loans were created to help those who are veterans, active-duty service members, members of the national guard, reserve, or surviving spouse of a veteran.  VA loans:

  • Require a minimum years of service.
  • Lower credit score requirement.
  • High debt-to-income (DTI) ratio.
  • Primary residence is required.
  • Up to 100% financing for qualified borrowers.
  • Must have proof of employment and income.

USDA Loans

USDA loans are backed by the United States Department of Agriculture.  They are great for properties in rural areas.  USDA loans:

  • Have strict income requirements.
  • Lower rates.
  • Up to 100% financing.
  • Primary residence is required.
  • Property in rural area is required.
  • Must have proof of employment and income.

Conventional

Conventional loans are great for nearly every borrower.  These loans are not backed by the government.  Conventional loans:

  • Minimum 3% down payment for those who qualify based on debt-to-income (DTI) and credit scores.
  • Require a good credit score.
  • Generally require lower debt-to-income compared to government-backed loans (FHA, VA, & USDA).
  • Require Private Mortgage Insurance (PMI) for loans with less than a 20% down payment.
  • Must have proof of employment and income.

Refinance Options

At Lexington Mortgage Center we offer different refinance options.  Whether buyers are looking to reduce their rate and term or cash out the equity for home renovations, we have you covered.