Echopoint/CSW offers a broad variety of new loan and refinance programs to meet your needs, including:

NEW LOANS:

• FHA Loans are loans that are backed by our government and allow people to purchase homes with a small down payment.  And, they're not just for first-time homebuyers or those who have had credit probelms.  Anyone can be eligible.
• VA loans are also government-backed, and help qualified veterans buy homes.
• Conventional Loans have a maximum limit of $417,000 in Texas, and are insured by Fannie Mae and Freddie Mac. 
• Jumbo loans are loans larger than the conforming loan limit ($417,000 in Texas).
• Commercial Loans finance the derivation of income from commercial real estate. 

REFINANCE:

• Conventional Refinances are used when a loan is not eligible for either the "Making Home Affordable" or FHA "Streamline" programs.
• Making Home Affordable Refinances are specifically designed for people who've made their payments on time, but can't refinance because the value of their home has decreased.  You're eligible if:
  • You own a one- to four-unit home,
  • Your loan is owned/guaranteed by Fannie Mae (to find out, click here),
  • You're current on your mortgage payments, and 
  • Your loan balance is equal to or less than your home's current value.   
• FHA "Streamline" Re-Fis are used to refinance FHA loans, and involve far less documentation and underwriting.  In fact, usually there will be no appraisal, qualifying debt ratios, credit check or income verification.

REVERSE MORTGAGES:

• A Reverse Mortgage (or "Home Equity Conversion Mortgage [ECM]") is an FHA program which enables people over 62 yeas of age to withdraw some of the equity in their home.  They can be used to supplement social security, cover unexpected medical expenses, make home improvements, and for many other things.  For more information, click here.  Also, free information about reverse mortgages in general is avaiable by calling the AARP toll free at (800) 209-8085.

No matter what your situation might be, there's usually a loan that will meet the need.  Just call us and we'll be happy to help!

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