Welcome to USA Loans Website

General Questions

The APR represents any charges that you need to pay to get the loan. These charges include mortgage broker fees, interest rates, or other charges. APR is the actual cost of the loan and is generally higher than the interest rate.
The amount of down payment depends on many factors, such as the loan program you’re applying for, your finances, and the amount of mortgage loan approved. For instance, 3.5% down payment for FHA; 0% down payment for VA; 30% down payment for conventional affordable products
There are several programs such as FHA Loan, Conventional Loan, and VA Loan. We need to evaluate which one is best for you.
With USA Loans, the processing time of a mortgage loan is between 2-3 weeks.
Yes, you can get a loan for Non-Permanent resident aliens based on the loan program you qualify for.
It depends on the program. FHA and Conventional loans require at least two years of verifiable employment. There are also chances for a person with less than two years of experience to get the loan. But such a case needs to be reviewed by an underwriter.
Applying for a loan program is not a complex process. You need a photo ID, credit report, and proof of income while applying for a loan program.
A pre-approval letter is a proof displaying the mortgage amount you have been approved to borrow. The pre-approval letter documents the loan program, purchase price, loan amount, interest rate amount, down payment amount, and property address.
Several factors such as loan types, property type, credit score, and the market can affect the interest rate.
Yes, you can buy a house in a different state. You have different options to buy a house in another state. For instance, you can buy it as a primary house, as a second home, or as an investment if you plan to rent it.
Yes, you can qualify. If you can’t apply for a mortgage on your own, you can add a co-signer to your application to get approved.
Yes, you can use a mortgage to buy a residential property with up to four units. Moreover, you can also apply for a commercial loan if you plan to buy a property with more than four units.
There is no fix minimum credit score. It varies according to the loan program you’re applying for.
The mortgage interest deduction is one of the biggest benefits of homeownership.
Not necessarily. However, you may have to look for a suitable option from Conventional and FHA loans with tighter debt requirements if you have too much debt.
You can get benefits from refinancing any time you want. For instance,
· Getting cash out
· Going from a 30 year fixed to 15 years fixed
· Going from an ARM rate to a FIXED rate
· Reducing your mortgage payment
Several mortgage options from low to no down payment are available. We need to evaluate your case first to find the best option for you.
A lock on the interest rate indicates that your interest rate would not change between the offer and closing until you close it within a specific time frame. Besides, no changes in your application would occur.
The appraisal is the property valuation by an experienced licensed appraiser.
Yes! However, there are different requirements for allowed donors. Moreover, you need to documents the funds with a gift letter before using them as a down payment.