Loans

Loans

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Destiny Mortgage Group is a full service broker
 

FHA Loan
An FHA insured loan is a Federal Housing Administration  mortgage insurance backed mortgage loan which are provided by FHA-approved lenders. FHA insured loans are a type of federal assistance and have historically allowed lower income Americans  to borrow money for the purchase of a home that they would not otherwise be able to afford. To obtain mortgage insurance from the Federal Housing Administration, a mortgage insurance premium (MIP) equal to a percentage of the loan amount at closing is required, and is normally financed by the lender and paid to FHA on the borrower's behalf. Depending on the loan-to-value ratio, there may be a monthly premium as well.
 
 
VA Loan
The VA loan was designed to offer long-term financing to eligible American  veterans  or their surviving spouses (provided they do not remarry). The basic intention of the VA direct home loan program is to supply home financing to eligible veterans in areas where private financing is not generally available and to help veterans purchase properties with no down payment. Eligible areas are designated by the VA as housing credit shortage areas and are generally rural areas and small cities and towns not near metropolitan or commuting areas of large cities.
 
 
Conventional Loan
A mortgage conventional loan is a lender agreement that's not guaranteed or insured by the federal government under the Veterans Administration (VA) the Federal Housing Administration (FHA), or the Rural Housing Service (RHS) of the U.S. Department of Agriculture. Although a conventional loan is not insured or guaranteed by the government, it can still follow the guidelines of government sponsored enterprises (GSE's) such as Fannie Mae or Freddie Mac as both Fannie Mae and Freddie Mac are stockholder-owned corporations and are not part of the federal government.
 
 
Construction Loan
Construction loans are usually variable-rate loans priced at a spread to the prime rate or some other short-term interest rate. You, the contractor and the lender establish a draw schedule based on stages of construction, and interest is charged on the amount of money disbursed to date.

A construction loan, unlike a mortgage, isn't meant to be around for a long time. If you're taking out a $200,000 construction loan for six months and you pay an extra 0.5 percent on the loan, it costs you an additional $250. (Assumes an average $100,000 loan balance over a six-month construction period.)
 
 
Home Equity Loans
A second mortgage loan: This type of loan provides you with a fixed amount of money repayable over a fixed period. Generally the loan calls for equal payments that will pay off the entire loan within that fixed time.
 

Commercial Loans
We leverage our lender relationships, our commercial appraisers, title agents, closing agents, and other third parties to successfully complete and fund small to large commercial loan mortgage packages.

Our Commercial Real Estate Loans offer a wide variety of commercial loan programs to suit nearly every borrower and property type.

We maintain a commitment to the highest quality of customer satisfaction. Browse our site and feel free to contact us with any questions you may have.

We have a both small and large commercial property loan programs available. Ready for a fast approval?

Loans