At Helping Hands Community Partners, we understand that securing the right mortgage is a pivotal step to reaching your homeownership goals. That's why we offer a diverse range of loan products designed to meet your unique needs and financial goals. Whether you're a first-time homebuyer or a seasoned real estate investor, our comprehensive selection of mortgage options provides the flexibility you're looking for.
Your Loan Officer will explain your options and deliver a mortgage with the best loan terms available.
Down Payment Assitance (DPA) programs are designed to help eligible first-time homebuyers in Rhode Island with what is often the biggest hurdle to homeownership: the down payment.
Are you looking to bring less funds to close? DPA can help cover some or all of your closing costs and down payment. Talk to a Helping Hands Loan Officer today for more information.
A conventional mortgage loan is not directly insured by a government program. Most conventional loans are also “conforming” loans, which simply means that they meet the requirements for Fannie Mae or Freddie Mac. These loans may be more difficult to qualify for, but they usually have lower costs.
If you have strong credit and stable income, a Conventional loan might be the right option for you, since Conventional loan programs traditionally offer more options to the borrower.
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FHA mortgage home loans are insured by the Federal Housing Administration (FHA). This mortgage loan option offers flexible qualification guidelines to help people who might not qualify for a conventional mortgage.
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VA mortgage loans provide affordable home financing options for eligible service members, veterans and surviving spouses. A VA Loan is backed by the federal government.
Helping Hands Community Partners is honored and dedicated to helping our veterans who have served for our country. Let us guide you through the process.
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Another government backed loan program that helps to make purchasing a home more affordable for low- to moderate-income individuals living in designated rural areas.
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The FHA 203(k) program offers the convenience of financing both the purchase of a primary residence and necessary repairs through a single mortgage, requiring a minimum down payment of 3.5%. You can choose between two distinct types of 203(k) loans.
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Allows borrowers to finance rehabilitation costs from $5,000 and up; no maximum repair costs. Loan limits vary by county.
Streamline FHA 203(k):
Provides financing for minor renovations and repairs up to $35,000 of your mortgage.
Jumbo mortgage loans offer the ability to purchase a higher-value home with a loan amount that exceeds the standard conforming loan limits established by the Federal Housing Finance Agency, a U.S. federal government entity.
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A Bank Statement loan is a specialized home loan program primarily crafted to cater to the unique needs of self-employed individuals and business owners. In this program, the lender evaluates the income qualifications by considering the deposits into the applicant's business account rather than relying on traditional tax return documentation.
Helping Hands Community Partners understands that borrowers should not be denied the opportunity of homeownership, even when they may not align with conventional loan criteria.
Use your home's equity and borrow cash to pay down expenses, consolidate debt, start home renovations, and more. You can do it all, and maintain your low-interest rate on your current mortgage.
DSCR stands for Debt Service Coverage Ratio. A DSCR mortgage is designed to help real estate investors and property owners finance their properties with greater flexibility.
With a DSCR mortgage, borrowers can secure financing for their properties based on the property’s actual income and expenses. This means that borrowers with irregular income streams can still qualify for financing if their properties generate enough cash flow to cover the loan payments.
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