Mortgage Options

At Lenderful we want you to be in control when getting an online mortgage, so it's important for our borrowers to understand the mortgage options available to them.

Fixed Rate Loan Products

Fixed Rate Loans are generally for borrowers with above average credit scores as well as a decent down payment. Fixed Rate Loans come with fixed-rate terms of 30, 25, 20, 15 and 10 years.

  • Loan amounts up to $417,000
  • Minimum 640 FICO score
  • Requires a 3% to 20% down payment

Within fixed rate loans, some special products are available for unique borrowers and conditions:

  • Top-Tier:  offers some of the best rates for borrowers with 740+ FICO, 80% LTV or less and loan amounts in excess of $250,000
  • Top-Tier High-Balance:  offers some of the best rates for borrowers with 740+ FICO, 80% LTV or less and loan amounts in excess of $417,001
  • Low Down Payment:  offers an alternative to FHA loans for first-time buyers and retirees with a down payment from gift funds and an LTV up to 97%

Adjustable Rate Mortgages

ARMs can provide savings for borrowers through lower rates and lower monthly payments. Products include 5/1 and 7/1 low interest rate ARMs. Some additional details:

  • Loan amounts up to $417,000
  • Minimum 640 FICO score
  • Requires a 5% to 20% down payment

Within adjustable rate loans, some special products are available for unique borrowers and conditions:

  • Top-Tier:  offers some of the best rates for borrowers with 740+ FICO, 80% LTV or less and loan amounts in excess of $250,000
  • Top-Tier High-Balance:  offers some of the best rates for borrowers with 740+ FICO, 80% LTV or less and loan amounts in excess of $417,001

Federal Housing Administration (FHA)

FHA is a government-sponsored home buying mortgage program geared toward first-time home buyers with easier credit score requirements and smaller down payments than most loans (as low as 3.5%). Some additional details:

  • Loans up to $417,000
  • Minimum 640 FICO score
  • Requires a minimum 3.5% down payment
  • Fixed terms of 30, 20, 15, and 10-year
  • Top-Tier product offers some of the best rates for borrowers with 720+ FICO

Interest Only Mortgages

The borrower can save hundreds of dollars a month through deferred principal payments for the initial 10-year interest only period.

  • Loan amounts from $250,000 to $2,000,000
  • Minimum 720 FICO score
  • 5/1 ARM with a 2/2/5 cap
  • 42% maximum DTI

What's Next?

Now that you’ve seen the details of our mortgage options, let’s get you some real-time mortgage rates. Select the Purchase or Refinance buttons below where you will be provided with some rates for your specific loan scenario.