Loan Options

Looking for the best fit? Whatever the scenario, we’ve got you covered.

Conventional

Conventional

Stable rates and flexible terms.

Jumbo

Jumbo

Loans for higher loan amounts.

FHA

FHA

Low down payment, great for first-time buyers.

VA

VA

Favorable loans for veterans family.

Non-QM Dscr

Non-QM Dscr

Uses rental property income to qualify.

Non-QM Flow

Non-QM Flow

Alternate income verification (bank statements, P, 1099s).

Non-QM Pathway

Non-QM Pathway

For borrowers with unique situations to overcome (credit or otherwise).

Commercial Loans

Commercial Loans

Multifamily (5+ units), retail, office, mixed-use, more.

Hyper Heloc

Hyper Heloc

Super-Fast Access to Home Equity

Traditional Heloc

Traditional Heloc

Home Equity Line of Credit

Reverse Mortgage

Reverse Mortgage

Converting equity to cash for seniors.

ITIN Loans

ITIN Loans

Qualify with alternate identification / documentation.

Assistance programs available across the country.

Temporary Buydown

Homebuyers enjoy a temporarily reduced interest rate and payment, with a 3-yr, 2-yr, and 1-yr option.

For example, on the 3-yr option, your rate would be 3% lower in the first year, 2% in the second, and 1% lower in the third year. At year four, the rate goes back to the full amount and remains for the life of the loan.

Sellers or builders can pay for the buydown, which is made upfront and used to subsidize the reduction in payments for the initial years.

  • You can refinance any time with no prepayment penalty
  • Must be the purchase of your new primary residence
  • Single Family Residences, PUD and Condos
  • Conventional and FHA loans are eligible
  • Buydown cost is paid by seller/builder concessions

Interested in hearing more about our temporary buydown options?

Down Payment Assistance (DPA)

Saving for a down payment is challenging for many homebuyers. To help overcome that burden, we offer a variety of DPA programs.

Typically for first-time buyers, and often income-restricted, DPA programs are here to make homeownership more affordable.

Most down payment assistance programs are offered by state and local governments, charitable organizations, and even direct lenders like Priority. The assistance often comes in the form of forgivable loans and grants.

  • We offer several DPA options, including CalHFA, and eligibility requirements differ
  • Get into your home with little to no cash upfront
  • Typically, you must be a first-time homebuyer to qualify
  • Income restrictions may apply
  • Homebuyer education courses may required as part of the approval process

Let’s explore some DPA solutions to fit your home buying needs!

Loan solutions that fit you.

Conventional

If you have a strong credit history and traditional W2 income, a conventional loan is a great option. Typically with lower interest rates when compared to Non-QM and Jumbo options, this solution also allows for more flexible term choices and buy-down options.

KEY FEATURES

  • Typically 20% down is required, but solutions available with only 3% down (Max LTV: 97%)
  • Fixed-rate adjustable-rate (ARMs) available
  • Minimum FICO: 620
  • Property types: 1-4 unit homes, condos, co-ops, manufactured housing, modular homes, and PUDs
  • Allows for temporary buydown options

Jumbo

Considering a larger home, constructing a luxury dream mansion, or buying in a high-cost area? Our Jumbo loan program could be the perfect fit! We provide Jumbo financing for owner-occupied homes as well as vacation and investment properties.

KEY FEATURES

  • Loans up to $5 million
  • Minimum FICO: 660
  • Fixed-rate 15- and 30-year loan terms
  • Incredible rates in many underserved areas
  • Property types: single-family homes, rental properties, 1-4 unit

FHA

Millions of first-time homebuyers have used an FHA loan to make homeownership more attainable. That’s largely due to good rates, ability to use gift funds for closing costs, and more forgiving approval guidelines. These Federal Housing Administration (FHA) loans are backed by the federal government and do require mortgage insurance.

KEY FEATURES

  • Down payments as low as 3.5%
  • Minimum FICO: 580
  • Broader qualification requirements
  • Access to streamline refinancing programs
  • High-balance loans available in some counties
  • Allows for temporary buydown options

VA

A powerful way to say, “thank you for your service,” VA loans are here to benefit eligible veterans, service members, and qualifying surviving spouses, and honors their military service. It helps heroes secure a low-cost mortgage for purchasing or refinancing a home, offering leniency with credit requirements and options with zero down payment required.

KEY FEATURES

  • Max LTV: 100%
  • Minimum FICO: 600
  • No down payment required with full entitlement
  • Cash-out and streamlined rate/term refinancing
  • Larger loan amounts available for homes in high-cost areas
  • Property types: 1-4 unit residences, condos, new construction, manufactured, and more

Non-QM DSCR

DSCR stands for Debt Service Coverage Ratio, and these loans are designed for real estate investors who seek to purchase or refinance their investment properties for business purposes. We use the income of the property to qualify the transaction instead of using personal or W2 income.

KEY FEATURES

  • Loans up to $3.5M
  • Max LTV: 80%Max LTV: 80%
  • Minimum FICO: 640
  • Short-term rentals allowed
  • No-ratio solutions available
  • Fixed-rate, ARMs interest-only options
  • Property types: 1-4 unit residences, condos (including non-warrantable), and more

Non-QM AltDoc

There are many ways to verify the ability to pay a mortgage and the trustworthiness of the clients we serve. This product allows Priority to provide financing to those deserving borrowers across the country by using bank statements, CPA-prepared Profit Loss Statements, 1099s, and more to qualify.

KEY FEATURES

  • Loans up to $3M
  • Max LTV: 85%
  • Minimum FICO: 600
  • Ability to use bank statements, P statements, 1099s, 1-year tax returns, and more to qualify
  • Fixed-rate, ARMs interest-only options
  • Property types: 1-4 unit residences, condos, and more

Non-QM Pathway

The Non-QM Pathway program offers competitive financing solutions for those who are just shy of qualifying for standard agency and prime jumbo programs due to a credit event or a brief lapse in credit performance.

KEY FEATURES

  • Loans up to $2M
  • Max LTV: 80%
  • Minimum FICO: 600
  • Asset amortization/depletion may be used
  • Only 2-4 years seasoning for serious derogatory credit events
  • Fixed-rate, ARMs interest-only options
  • Property types: 1-4 unit residences, condos, and more

Commercial Loans

Are you looking to elevate your portfolio with better access to capital? From short-term rentals to office buildings and beyond, Priority has the financing options for income property investors nationwide.

KEY FEATURES

  • No max loan amount
  • Max LTV: 75%
  • Recourse non-recourse options
  • Up to 30-yr terms available
  • Investor owner-user properties
  • Property types: Multifamily/Apartments, Mixed Use, Retail, Office, Industrial / Warehouse, Automotive, and more...

Hyper HELOC

Fully automated, crazy-fast access to cash using your home equity. In about 5 minutes online, you can get approved for up to $400,000 cash without losing the super-low interest rates you have now on your 1st mortgage.

KEY FEATURES

  • $25,000 to $400,000 cash proceeds
  • Max LTV: 85%
  • Minimum FICO: 620
  • Owner-Occupied, Non-Owner Occupied, and Second Homes
  • Close in as little as 5-7 days
  • No prepayment penalties
  • Full draw at closing
  • 5,10,15 and 30-year terms

Traditional HELOC

A home equity line of credit (HELOC) acts as a second mortgage, allowing homeowners to borrow against their home equity. You can use HELOC funds for various needs such as home renovations, educational expenses, or consolidating high-interest credit card debt. Opting for a HELOC can be an excellent alternative to cash-out refinancing and jumbo cash-out financing.

KEY FEATURES

  • Up to $1M in proceeds available
  • Max LTV: 85%
  • Minimum FICO: 660
  • Blended payment with your 1st mortgage is often lower vs. a cash-out or jumbo cash-out solution in today’s market
  • Property types: 1-4 unit residences, PUDs, condos, and more

Reverse Mortgage

Are you nearing retirement and concerned about your income? Priority offers a great financing solution that’s designed to fit your current and future needs. It’s called a Reverse Mortgage or a Home Equity Conversion Mortgage (HECM). You might be surprised at the range of options available to you!

KEY FEATURES

  • Loans up to $1M
  • Designed for homeowners who are 62 and older
  • Proceeds available in a lump sum or equity line
  • Funds can be used to pay off your existing mortgage along with high-interest credit card debt and more

ITIN Loans

ITIN (Individual Tax Identification Number) loans are for consumers that may not have the traditional documentation needed to secure mortgage financing. ITIN loans can be a good path toward homeownership for individuals who don’t have a Social Security Number.

KEY FEATURES

  • Loans up to $2M
  • Minimum FICO: 640
  • Additional identification documentation outside of the ITIN might be required
  • Proof of employment and 2 years of tax returns are typically needed
  • Property types: 1-4 unit residences, condos, and more

No borrower left behind.

Believe it or not, the above list of products doesn’t fully cover the variety of financing solutions Priority has available. If you need financing for a home or investment property and you aren’t seeing a program that fits, our highly skilled Loan Officers are here to help. And if there’s a unique scenario that calls for a solution we simply can’t provide, we won’t leave you stranded. We’ll be happy to recommend another lender that can help you!