Special offer

Types of Loan Programs to Know, Discussion Brandy Mozzone with Linda

Real Estate Agent with eXp Realty DRE# 01997670

Which type of method do you prefer to buy a home? Do you prefer buying in cash or through a home loan program? Do you know what kind of home loan programs exist nowadays?

Linda Peltz realtor Fresno sat down with Brandy Mozzone from U Loans and talked about the variety of home loan programs offered by U Loans. U Loans is an experienced veteran loan lender, with Brady’s manager being a veteran himself. He’s reaped the benefits of VA home loan programs, and now he’s actively assisting fellow veterans to buy homes too. Apart from VA loans, this Fresno mortgage company also has other programs in store. Tune in to find out which one suits you best.


The Overview of VA Loans

U Loans takes pride in being an expert veteran loan lender. In principle, there is no minimum FICO score in order to qualify for VA loans. There’s also no limit on how many times you can use the VA loans. For home buyers, the best part of VA home loan programs could be the zero down payment requirement. However, this will depend on how much entitlement is stated on the Certificate of Eligibility (COE). If the buyer has exhausted all his entitlement, he’ll be subject to a 12% down payment for a new home purchase.

Who’s eligible for VA loans? Veterans, active military service members and the surviving spouses of military members can apply for VA loans. Not just for buying homes, but for paying off credit card debts as well.


Types of Loan Program

Best U Loans Programs For YouNo Ratio/Income

A no-ratio loan omits the borrower’s Debt-to-Income ratio (DTI). With this, borrowers with significant debts who might not qualify due to the ratio are now given a second chance. On the other hand, no-income loans can be provided by Fresno mortgage company to borrowers in exchange for a collateral. In this case, the guarantee of repayment is in the form of liquid assets such as cash, savings or stocks. Liquid assets are preferred due to their liquidity, in which they can be liquidated into cash within a short period of time.

Asset Depletion

What if a borrower's eligibility is based on his assets instead of his monthly income? Believe it or not, it exists - in the form of asset depletion. To be precise, loan lenders look at the borrower's liquid assets such as saving accounts or stocks. As a veteran loan lender, U Loans is proud to be a provider of this unique loan product.

Rehab Loans

U Loans can provide rehab loans based on FHA or VA home loan programs. Borrowers can use the FHA 203(k) rehab loan to cover both the home purchase and renovation. Both are done through a single mortgage, eliminating the need for multiple loans.

On the other hand, the VA rehab loan is dedicated to assisting active and veteran members of the military. Both the FHA 203(k) and VA rehab loans can be used to refinance and repair an existing home as well.

The Bottom Line

Prior to applying for any loan programs, spend some time to do some research on which one is the most suitable for you. As a veteran loan lender, U Loans is more than happy to attend to your inquiries. For you military members out there, don't hesitate to contact your nearest Fresno mortgage company to secure your dream home!

Brandy Mozzone

Phone Number: 408-613-0350



Realtor Linda Peltz

Phone Number: 559-353-4556


Comments (1)

Bill Salvatore - East Valley
Arizona Elite Properties - Chandler, AZ
Realtor - 602-999-0952 / em: golfArizona@cox.net


Thank you for sharing the information. Wishing you continued success.  Have a wonderful day and sell a house.  bill

Mar 16, 2023 05:38 AM
Linda Peltz Realtor - eXp Realty

Thank you

Apr 07, 2023 04:03 AM