Mortgage Information | Kreg McCoy Real Estate Agents

Your Path to Homeownership Starts Here

At Kreg McCoy Real Estate, we understand that every buyer's journey is unique. That's why we've partnered with First Link Mortgage to provide a variety of loan options, ensuring you find the perfect fit for your financial situation.

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VA Loans – Honoring Our Heroes

For eligible veterans, active-duty service members, and certain surviving spouses, VA loans offer: Investopedia+1 Veterans Affairs+1

Zero Down Payment: Purchase your home without the need for a down payment.
Competitive Interest Rates: Benefit from lower rates compared to conventional loans.
No Private Mortgage Insurance (PMI): Reduce your monthly payments.
Flexible Credit Requirements: Lenders typically look for a credit score around 620.
Debt-to-Income (DTI) Ratio: Generally, a DTI of 41% or less is preferred. New York PostVA BenefitsThe Mortgage Reports+4Bankrate+4Herring Bank+4

Note: A valid Certificate of Eligibility (COE) is required to verify your service history.* Investopedia+2Herring Bank+2Veterans Affairs+2

Why Choose First Link Mortgage?

First Link Mortgage is committed to providing exceptional service and value. Our bundle and save program offers clients up to 25% off when they use all our services, ensuring maximum savings and a seamless experience. Serving eight states - California, Arizona, Colorado, Georgia, Texas, Florida, Montana, and Idaho - our team is ready to help you secure the best mortgage for your needs. NMLS# 2527988.

Comprehensive Coverage

We offer a wide range of loan options, including VA, FHA, non-conforming loans, hard money, construction loans, HELOCs, and refinance options. Whatever your financing needs, Link Mortgage has you covered.
Competitive Rates

By partnering with over 20 direct lenders and banks, we ensure our clients have competitive rate. Our vertically integrated services with Link Brokerages enhance your experience, offering seamless coordination and significant savings.
Convenient & Fast Service

Our 100% online application process allows you to complete your mortgage application from the comfort of your home. Enjoy same-day pre-approval and fast, efficient service every step of the way.
Personalized Solutions

Our mortgage experts tailor loan options to fit your unique financial goals, helping you secure the perfect financing for your needs. Whether you're a first-time homebuyer or a seasoned investor, we’re here to guide you every step of the way.

FHA Loans – Making Homeownership Accessible

Ideal for first-time buyers or those with less-than-perfect credit, FHA loans provide:

Low Down Payments: As little as 3.5% down with a credit score of 580 or higher.
Flexible Credit Requirements: Scores between 500-579 may qualify with a 10% down payment.
Higher DTI Ratios Allowed: Up to 50% in certain cases.
Mandatory Mortgage Insurance: Includes both upfront and annual premiums.Investopedia+3The Mortgage Reports+3LendingTree+3NerdWallet

*Note: The property must be your primary residence.* Neighbors Bank+2Herring Bank+2LendingTree+2

Mortgage Calculator

Estimate your monthly mortgage payment, including the principal and interest, property taxes, and HOA. Adjust the values to generate a more accurate rate.

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HELOC – Unlock Your Home's Potential

A Home Equity Line of Credit (HELOC) allows you to borrow against your home's equity:U.S. Bank

Flexible Access to Funds: Draw funds as needed for renovations, education, or other expenses.
Interest-Only Payments: During the draw period, pay only the interest on the amount used.
Competitive Rates: Often lower than credit cards or personal loans.
- Equity: At least 15-20% equity in your home.
- Credit Score: Typically 680 or higher.
- DTI Ratio: Preferably 43% or less. Academy Bank+4Bankrate+4CBS News+4CBS News+4Kwik Mortgage+4The Mortgage Reports+4NerdWallet+3The Mortgage Reports+3Bankrate+3

Save up To 25% on Closing Costs

By bundling services, you not only cut costs but also streamline the entire process, from start to finish. With fewer moving parts and more savings, your real estate experience becomes seamless and hassle-free.

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Essential Documents for Your Mortgage Application

To streamline your mortgage process, prepare the following:

Proof of Income: Recent pay stubs, W-2s, or tax returns.
Credit History: Authorization for a credit check.
Asset Verification: Bank statements and investment accounts.
Employment Verification: Contact information for current and past employers.
Identification: Government-issued ID and Social Security number.

Why Choose Kreg McCoy Real Estate & First Link Mortgage?

Diverse Loan Options: Access to over 20 direct lenders and banks.
Competitive Rates: Ensuring you get the best deal possible.
Streamlined Process: 100% online application with same-day pre-approval.
Bundle & Save: Save up to 25% on closing costs when using our integrated services.
Personalized Guidance: Expert advice tailored to your unique financial goals.

Explore More Mortgage Options with Kreg McCoy Real Estate

At Kreg McCoy Real Estate, we understand that every homebuyer's journey is unique. That's why we offer a diverse range of mortgage solutions to fit various financial situations and goals.

Conventional loans are not backed by the government and typically offer:Mortgage Equity Partners+1LendingTree+1

Down Payment: As low as 3% for qualified buyers.
Credit Score: Minimum of 620; scores of 740 or higher can secure better rates.
Debt-to-Income (DTI) Ratio: Up to 43%, though some lenders may allow up to 49% based on other factors.
Private Mortgage Insurance (PMI): Required if the down payment is less than 20%.
Loan Limits: Up to $806,500 in most areas; higher in high-cost regions. Mortgage Equity PartnersThe Mortgage ReportsLendingTree+3FHFA.gov+3LendingTree+3

The U.S. Department of Agriculture (USDA) offers loans for eligible rural and suburban homebuyers:Mortgage Equity Partners

Down Payment: No down payment required.

Credit Score: Typically 640 or higher.

DTI Ratio: Generally up to 41%.

Income Limits: Must not exceed 115% of the area's median income.

Property Eligibility: Home must be in a USDA-designated rural area. Mortgage Equity PartnersThe Mortgage Reports

For homes exceeding conforming loan limits, jumbo loans are available:

Loan Amount: Above $806,500 in most areas.
Down Payment: Typically 10% to 20%.
Credit Score: Minimum of 700; some lenders may require higher.
DTI Ratio: Preferably below 43%.
Reserves: May require significant cash reserves. FHFA.gov+1LendingTree+1Mortgage Equity PartnersThe Mortgage Reports

ARMs offer an initial fixed interest rate period, followed by periodic adjustments:Mortgage Equity Partners

Initial Rates: Lower than fixed-rate mortgages.
Adjustment Periods: Commonly 5/1, 7/1, or 10/1 (fixed for 5, 7, or 10 years, then adjusts annually).
Best For: Buyers planning to move or refinance before the adjustment period. Financial Times+3Yahoo Finance+3MarketWatch+3

For homes needing repairs or upgrades, consider:

FHA 203(k) Loans: Combine purchase and renovation costs into one loan.
Fannie Mae HomeStyle® Loans: Allow financing of renovations for primary residences, second homes, and investment properties.
Credit Score: Typically 620 or higher.
Down Payment: Varies by loan type and lender.

Key Qualification Requirements Across Loan Types

Loan Type	Minimum Credit Score	Down Payment	DTI Ratio	Mortgage Insurance	Loan Limits
Conventional	620	3%	Up to 43%	PMI if <20% down	Up to $806,500 (varies by area)
FHA	580 (3.5% down)	3.5%	Up to 43%	MIP required	$524,225 to $1,209,750 (by location)
VA	Varies (often 620+)	0%	Up to 41%	None	No official limit with full entitlement
USDA	640	0%	Up to 41%	Guarantee fee	Varies by location and income
Jumbo	700+	10%-20%	Preferably <43%	Varies	Above $806,500 (varies by area)

Note: Requirements can vary by lender and individual circumstances.

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Mortgage

Your Path to Homeownership Starts Here

Secure Your Dream Home with Us

VA Loans – Honoring Our Heroes

Why Choose First Link Mortgage?

Comprehensive Coverage

Competitive Rates

Convenient & Fast Service

Personalized Solutions

FHA Loans – Making Homeownership Accessible

Mortgage Calculator

HELOC – Unlock Your Home's Potential

Save up To 25% on Closing Costs

Essential Documents for Your Mortgage Application

Why Choose Kreg McCoy Real Estate & First Link Mortgage?

Explore More Mortgage Options with Kreg McCoy Real Estate

Conventional Loans – Ideal for Buyers with Strong Credit

USDA Loans – Supporting Rural Homebuyers

Jumbo Loans – Financing High-Value Properties

Adjustable-Rate Mortgages (ARMs) – Flexible Interest Rates

Renovation Loans – Financing Home Improvements

Key Qualification Requirements Across Loan Types

Leave a Message

Thank you for your message. We will be in touch with you shortly.

Mortgage

Your Path to Homeownership Starts Here

Secure Your Dream Home with Us

VA Loans – Honoring Our Heroes

Why Choose First Link Mortgage?

Comprehensive Coverage

Competitive Rates

Convenient & Fast Service

Personalized Solutions

FHA Loans – Making Homeownership Accessible

Mortgage Calculator

HELOC – Unlock Your Home's Potential

Save up To 25% on Closing Costs

Essential Documents for Your Mortgage Application

Why Choose Kreg McCoy Real Estate & First Link Mortgage?

Explore More Mortgage Options with Kreg McCoy Real Estate

Conventional Loans – Ideal for Buyers with Strong Credit

USDA Loans – Supporting Rural Homebuyers

Jumbo Loans – Financing High-Value Properties

Adjustable-Rate Mortgages (ARMs) – Flexible Interest Rates

Renovation Loans – Financing Home Improvements

Key Qualification Requirements Across Loan Types

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