Home Loans
FHA Loan
A Federal Housing Administration (FHA) loan is a mortgage that’s insured by the Federal Housing Administration. The FHA program was started in the 1930s as a response to the Great Depression and remains an attractive loan option for many borrowers today.
The purpose of FHA is to improve the housing market and protect lenders in case a borrower has defaulted on their mortgage. The FHA has become one of the largest insurers of mortgages in the United States. Pleebo Capital is honored to offer some of the best rates and flexible financing options in the USA. FHA is an excellent loan program that makes home ownership possible for more people. FHA is best for those who have trouble getting a conventional loan. FHA is great for some clients for purchasing a new home, special renovation projects, refinancing an existing mortgage, and even reverse mortgages. Cash-out refinance options are available to buyers in need of capital for this such as debt consolidation and home repairs.To qualify for an FHA Loan, you need a down payment of 3.5 percent and a credit score of 580. If a borrower does not having enough savings, family members can also gift the down payment. FHA Loans are a popular option to first time home buyers.
For more information on FHA Loans contact Pleebo Capital today at (240) 877-1200.
VA Loan
Pleebo Capital is honored to serve those who have courageously served in the Armed Forces, allowing veteran borrowers to take advantage of their VA benefits. Pleebo Capitalhas assisted veterans and their family to be able to purchase a home easier. Pleebo Capital have Account Executives with great knowledge of VA loans and have helped many veterans to purchase or refinance a home.
No Down Payment Required
No Mortgage Insurance
Low Rates
Backed by the Department of Veterans Affairs, the VA Home Loan provides veterans and active-duty service members with exceptional benefits and flexible eligibility requirements that they will not find with other conventional programs. To qualify for a VA loan clients must apply for a Certificate of Eligibility (COE) by filling out a government form (VA Form 26-1880) which is a request for a certificate of eligibility for home loan benefits. Traditionally you present this form along with your military service documents to a VA center.
VA Loans offer exceptional benefits for those who have served our county. The biggest advantage with VA loan is you can purchase a home with no money down. VA Loans have no monthly private mortgage insurance (PMI) resulting in a lower house payment for you. Down payment and monthly payment are often the biggest barrier to home ownership. A VA Home Loan eliminates these obstacles.
For more information on VA Loans contact Pleebo Capital today at (240) 877-1200.
Conventional Loan
A conventional loan is any loan not insured or guaranteed by a government agency such as (FHA) Federal Housing Administration, (VA) Department of Veterans Affairs and (FmHA) Farmers Home Administration. Convention Loans are secured by Fannie Mae or Freddie Mac. Conventional Mortgage Loans a great alternative to FHA financing for borrowers looking to purchase with a low-down payment or refinance with limited equity. Pleebo Capital is a leading provider of Conventional Loans
Don’t Waste Money on Rent When You Can Afford to Buy. Start building your own equity today
3% down payment – First time home buyers eligible
move-up borrowers, and retirees
No income limits for Undeserved Areas
Primary homes, 1-2 units eligible
Gift funds eligible for entire down payment
For more information on Conventional Loans contact Pleebo Capital today at (240) 877-1200.
Refinance
Pleebo Capital will refinance your current mortgage loan step by step. The first thing you must do is determine your goals. When considering refinancing you need to determine how you will repay the loan or we can help you find out how much equity you currently have. If the home equity line of credit is to be used for home renovations to increase the value of the house, you may consider this increased revenue upon the sale of the house to be the way in which you will repay the loan. On the other hand, if the credit is going to be used for something else, like a new car, education, or to pay down credit card debt, it is best to sit down and put to paper exactly how you will repay the loan.
Contact one of our Account Executives to learn your current credit score and to discuss the options available. It is very important to know exactly what you must do to get a refinancing that is best for you. Clients refinance their home for better interest rate and terms of the loan. When you refinance your first loan gets paid off allowing the second loan to take place. The process of refinancing your mortgage loan can offer many benefits such as, reduce monthly payments, lower interest rates, pay off debt, take cash out of your home to make home improvements or even fund large purchases.
Pleebo Capital has many options, and you can feel confident in your refinance decisions
FHA Refinance Loans
VA Refinance Loans
Cash Out Refinancing
Conventional Refinance Loans
For more information on Refinancing Loans contact Pleebo Capital today at (240) 877-1200.
Jumbo loans
Jumbo Loans exceed the maximum loan amounts established by Fannie Mae and Freddie Mac conventional loan limits. Rates on jumbo loans are typically higher than conforming loans. Jumbo Loans are typically used to buy more expensive homes and high-end custom construction homes. Typically, Jumbo Loans require a higher down payment than traditional loans.
For more information on Jumbo Loans contact Pleebo Capital today at (240) 877-1200.
First Time Home Buyers
We are here to educate borrowers and lead you to the first step to becoming a homeowner. At Pleebo Capital we make dreams come true of homeownership.
Most people think that their locale bank is the best for a mortgage, but their locale bank offer them one rate. What they don’t realize is that Mortgage Broker and Mortgage Lender are often the best choice, and they are able to offer clients more Loan Options than a bank. Let Pleebo Capital help finance your first dream home.
Just because a lender says that you can borrow a certain amount, doesn’t mean you should borrow that much. Staying below that limit will give you more financial flexibility to cover the added expenses that come with purchasing a home and incase your income changes in the future.
For more information on First Time Home Buyers Loans contact Pleebo Capital today at (240) 877-1200.
Foreign National Mortgage
What are the legal requirements to get a mortgage in the USA as a foreigner? Foreigners, resident or not, can legally buy property in the USA. As an expat you can also apply for a mortgage, although this is much easier to do if you have a Green Card or have a valid work visa.
Homeownership is a dream for many in the USA, with nearly 65% of people having their own place. If you’re planning on being in America for more than a couple of years, buying a property might make sense for you, too. Even if you’re not living, studying, or working in the USA, you
might decide to buy a place as an investment or as a vacation home. With such a wide range of possibilities, there will be property to catch your eye, in a place you love, in the USA.
Whatever your reasons for buying a new home in the USA, you need to understand the type of mortgages available, and the steps needed to get.
Copy of executed purchase agreement
Copy of passport with a valid US visa if required (B-1, B-2, H-3, J-1, J-2 or R-1)
2 personal Credit References (Credit card, Mortgage,Car lease, Landlord Letter, Utility bill)
If self-employed accountant (CPA) letter or employer letter
Last 2 months bank statements showing enough funds for minimum of 20% down payment plus closing cost
Checking account maybe required with the lending bank (need direct debit set up for a mortgage payment) Account is FDIC insured.
For more information on Foreign National Mortgage Loans contact Pleebo Capital today at (240) 877-1200.
Construction Loans
Pleebo Capital has a long history of construction lending. Whether you are building a new home or renovating your existing property we have the solution for you. Choosing Pleebo Capital as your financial lending institution will help you to have a successful project. We offer a One-Time Close solution which allows you to lock in the terms of your permanent financing upfront, so you don’t have to worry about rising interest rates while your project is under construction. Our programs support:
New construction lending
Home renovation loans
FHA 203k home rehab loans
For more information on Construction Loans contact Pleebo Capital today at (240) 877-1200.
Reverse Mortgage
Pleebo Capital offers reverse mortgage loan which is commonly known as a home equity conversion mortgage (HECM). It works by enabling the borrower to access equity in their property and use it to supplement retirement income. Qualification to obtain a reverse mortgage:
You are 62 years of age or older
You own your home and use it as your primary residence
The house is single family, multi-family (up to 4 units) or an approved condominium or manufactured home
You own your own home free and clear or have a small amount left to pay on the existing mortgage
Your home is in good condition prior to taking out the loan
Some of the benefits of a reverse mortgage are as follow:
If you qualify and can meet the requirements, there are several reasons why homeowners choose a reverse mortgage loan:
Eliminate monthly mortgage payments
Access the equity you have built in your home
Supplement retirement income
Loan amount is based on your age, home value, and current interest rate and can be dispersed in a lump sum or line of credit
Loan does not have to be repaid as long as you are living in the home and meeting loan terms
For more information on Reverse Mortgage Loans contact Pleebo Capital today at (240) 877-1200.