Platinum Lending Loans
Platinum Lending LTD offers the following types of loans:
Conventional Loans (with and without PMI)
PMI stands for Private Mortgage Insurance. It is required by the lenders in cases when the downpayment is less than 20%. There by they protect themselves from the risk of letting you pay such a low amount at start. PMI is a compensation for the loss of the former security when you did not get the loan if you did not have your 20% downpayment. PMI is a perfect alternative for those who cannot afford 20% or more of down and makes the process of buying a home much easier.
FHA/VA (Government Loans)
The Federal Housing Administration (FHA) and Veterans Administration (VA) are government sponsored loan programs. VA loans are loan available to military men and women, whereas FHA loans are loans for everyone. With FHA loan the home buyer pays only 3% downpayment and the seller can pay up to 6% of the closing costs as well as pre-paid Items.
Commercial Loans
Unlike other banks, which want for their commercial loans a 20% downpayment and amortization within 15 years, we have programs with as little as 10% down and can be amortized over 30 years.
Please contact us.
Jumbo Loans
Jumbo loans are the loans over $359,650. With jumbo loans interest rates are a bit higher than with regular conventional loans. If you account for such amount you may consider an 80/20 Combo or 80/10 Combo to avoid surpassing the Jumbo Loan limit (assuming the 80% 1st Mortgage stays under the Jumbo Loan limit).
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