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Loan Options

Choose from a loan option below to learn more or let the experts at Coastline take care of all your lending questions.

  • Most homebuyers pursue conventional loans, encompassing both fixed-rate and adjustable rate alternatives.

  • Supported by the Federal Housing Administration, FHA mortgages provide more flexible underwriting guidelines.

  • These loans, exclusive to active military and veterans, provide up to 103.5% financing, purchases with no money down, and 100% cash out.

  • Ideal choice for borrowers in rural regions or those with properties featuring extensive acreage.

  • Short-term financing options specifically designed to cover the costs of building or renovating a property.

  • With a Home Equity Line of Credit, or HELOC, you as a homeowner can borrow money using the value of your home as collateral, which is commonly used for significant expenses or to consolidate debts.

  • A Home Equity Loan is a financial option where you can use your home's equity as security to borrow money, often used for major expenses or consolidating debts.

  • A non-QM loan is a special kind of home loan that's easier to qualify for if you don't fit the usual rules for borrowing money to buy a house.

Conventional Loan

  • Can be used to buy a primary home, vacation/second home, and investment property.

  • ​Fixed and Adjustable rates offered.

Benefits

  • 620 and above credit scores.​

  • Max loan amount of $750,000.​

  • Downpayment as low as 5%. (3% if you haven't owned a home in 3 years).

Requirements

VA Loan

  • Relaxed underwriting guidelines.​

  • No required mortgage insurance.​

  • No funding fee for veterans with 10% or more disabilty rating.​

  • Ability to streamline or cash out refinances after 6 months of on time payments.

Benefits

  • 580 and above credit scores

  • VA Loans are guaranteed by the U.S. Dept. of Veteran Affairs designed for Veterans, Active Duty Service Members, and Surviving Spouses.

  • No required down payment​

Requirements

FHA Loan

  • Relaxed underwriting requirements.​

  • Great first time homebuyer option.

Benefits

  • 580 and above credit scores.​

  • Max loan amount of $472,030 depending on the county.​

  • Downpayment as low as 3.5%.

Requirements

USDA Loan

  • Can be used to buy a primary homes in eligible rural areas.​

  • No required down payment.​

  • Typically more competitive interest rates.

Benefits

  • 640 and above credit scores.​

  • Stricter underwriting requirements.

Requirements

Construction Loan

  • Can be used to buy a primary home, vacation/second homes.​

  • 1 closing.​

  • Interest only payments during contruction period.​

  • Land can be included in construction cost.

Benefits

  • Primary - 680 and above credit scores. 90% max LTV.​

  • Second - 700 and above credit scores. 80% max LTV.

Requirements

HELOC

  • Allows access to home equity without refinancing your current mortgage.​

  • Access to funds whenever they are needed.

Benefits

  • 680 and above credit scores.​

  • Adjustable rate.​

  • Max credit line of $500,000.​

  • Max CLTV of 90%

Requirements

HELOAN

  • Allows access to home equity without refinancing your current mortgage.​

  • Lump sum loan with no access to more funds.

Benefits

  • 680 and above credit scores.​

  • Fixed-rate with loan terms of 10 or 20 years.​

  • Max loan of $350,000.​

  • Max CLTV of 80%

Requirements

Non-QM Loan

  • Debt Service Coverage Ratio​

  • Can be used to buy investment properties only.​

  • No income/employment documentation.

Benefits

  • Typically for self employed borrowers or borrowers with non traditional income.​

  • Use 12 or 24 month personal or business bank statements as income.

Requirements
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