Home Loan Options
RAVEN HOME LOANS
When it comes to home loans, the difference between a good and bad decision can have substantial economic impact. Raven Home Loans offers to our customers a confident understanding of their options. We leverage modern tools and match our discussion to your unique needs, creating extensive savings for many clients. This is the difference an informed choice can offer. This is what service looks and feels like.
Raven Home Loans offers a range of mortgage solutions tailored to homebuyers and homeowners in all of Oregon. This condensed guide will walk you through each type of loan, its benefits, and who it’s best suited for.
As you review the loans below, you’ll probably ask:
“Which Loan is the Right Loan for me?”
This is the question. Did you know - often times, a loan with a lower interest rate can be more expensive over time than a loan with a higher rate?
This is where Chris and his 13 years of experience will create and pair loan strategies to address your specific financial needs and those of the transaction.
Conforming Loans
The Smart Choice for Traditional Borrowers
If you have good credit and a stable income, with as little as 3% down payment, a conforming loan may offer you the most efficient terms.
What is a conforming loan?
A mortgage that meets Fannie Mae and Freddie Mac’s guidelines.
Who should consider it?
First-time homebuyers
Homeowners with strong credit
Buyers looking for competitive interest rates
Key features:
Efficient interest rates vs. non-conforming loans
Flexible repayment terms (e.g. 15yr, 30yr, ARM Loans)
Widely available from most lenders, including Raven Home Loans
Non-Conforming Loans
For Non-Traditional Borrowers
These loans offer options for clients who may have income scenarios that lie outside of the normal qualified mortgage guidelines:
Key features:
Different underwriting criteria, often using other financial records than tax returns. Good for self-employed borrowers
Usually have higher interest rates
Can be a good fit for investment purchases.
Government Loans
The Best Loan Programs You’ve Never Considered
The U.S. government wears many hats—one is to help Americans buy homes. If you qualify, these loans can be your secret weapon in the housing market.
FHA Loans – The First-Time Buyer’s Dream
If your credit score isn’t perfect, the Federal Housing Administration (FHA) loan is an option.
Down payment (starting at 3.5%)
More lenient credit requirements
Competitive interest rates
Especially a great fit for homebuyers with lower credit scores, and smaller down payment funds.
VA Loans – A Reward for Service
If you’ve served in the military, Raven Home Loans will help you access your well-earned Veterans home ownership benefits.
Zero down payment required
No private mortgage insurance (PMI)
Very, very efficient loans
A benefit for veterans, active-duty military, and eligible spouses.
USDA Loans – Buy a Home with No Down Payment
Live in a rural area? The U.S. Department of Agriculture (USDA) loan could be your best option.
No down payment required
Lower mortgage insurance than FHA loans
Designed for rural and suburban buyers
This loan is available for many small towns and suburbs throughout Oregon and Central Oregon.
Jumbo Loans
For Buyers Who Think Big
Are you shopping for a luxury home? If the loan you need is above conventional loan limits, you’ll need a jumbo loan.
What makes it different?
Much larger loan amounts
Stricter credit and income requirements
More tedious underwriting process
A jumbo loan is for financially secure buyers who want access to larger loan amounts.
Refinance Loans
Not Just For Lowering Your Mortgage Payments…
Homeowners often are unaware that through mortgage finance they can shift their whole financial picture. Here are some ways to use this financial tool:
Lower your mortgage interest rate
Reduce your monthly payments
Switch to a shorter loan term (pay off your home faster)
Cash-out refinancing – Convert home equity into usable cash
Debit consolidation – Move high interest debit into low interest debit
If you haven’t looked into refinancing lately, you could be leaving money on the table. If you currently have a FHA or VA loan, these loans offer streamline refinances. (Reduced paperwork refinances making this process significantly easier and quicker.)
Reverse Mortgages
Use Your Home To Stay At Home
With options starting at 55yrs old, a reverse mortgage can be a very useful financial tool, all without selling your home.
How it works:
Cost free meeting to identify and explain the options you qualify for.
You must be living in your home as your primary residence
Proceeds can be received as a lump sum, monthly payments, or a line of credit
You must have significant equity in your home
This is not for everyone, but for the right homeowner, it can largely impact financial security.
Reverse Purchase Option
A Brilliant Way to Buy a Home
A reverse mortgage can also be used to buy a new home.
Move into a new home without monthly mortgage payments
Decrease the size of your downpayment
Impact your finances during retirement
For retirees who want to downsize, upsize, or move closer to family, this is a little-known but powerful strategy.
Take the First Step
If finding the right mortgage rate is important to you, get a personalized quote now. Trust your instincts, rely on the numbers, and let Raven Home Loans help you make informed, confident decisions.