for Every Homebuyer
Our Loan Programs:
A Program Range To Match Our Vision
Options are important. Always. It's nice to live in an area with a variety of restaurants. It's nice to visit stores that offer a wide range of products. It's nice to pay for a streaming subscription that constantly adds to its selection of TV series and movies. And isn't it said that variety is the spice of life?
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If having choices in life's most commonplace activities is "nice", having choices in one of its most important transactions is mandatory. Make absolutely no mistake, there is no such thing as a one size fits all mortgage; any lender who lacks program variety can and will attempt to convince you to pursue an inadequate solution for their benefit and at the expense of your financial health and homeownership goals.
At HP Mortgage, we take those implications quite seriously. Having amassed wholesale partnerships with dozens of lenders, our expansive network encompasses nearly every practical and ethical financing solution to be found in the world of real estate, both QM and non-QM. Self-employed and write off too much of your income on taxes? Got you covered. Freshly-minted medical professional with high student loan debt and inadequate income history barring you from conventional loans? Not a problem. Credit score at around 500 or even lower? We can make it work. Ground-up construction, foreign national lending, hard money, blanket mortgages, bridge financing to buy a new home now and sell your old one later, we have it all. And if you don't see what you need, feel free to shoot us a message; we still have more options other than the ones listed below.
Most Popular Programs
Take advantage of the most common products on the mortgage marketplace here. With as low as 3% down, a home can be yours!
FHA loans are a great solution for individuals with lower credit as well. USDA loans may be a powerful tool if you plan to purchase in a rural area, requiring 0% down.
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Get Rid of High Interest Debt
Struggling with keeping personal debt under control? Credit cards, personal loans, car loans, and other personal debts can carry APRs as high as 20%-30%. You may be able to save hundreds or thousands each month through debt consolidation, and improve your credit scores at the same time. Put hard-earned money in your pocket, not a bank's.
Protection Against Rate Spikes
In environments where rates are generally on an upward trend, much like the majority of 2022, programs that allow you to lock your rate before finding a property will give you peace of mind and a much more relaxed home search. We aren't stopping there though: if rates drop after you lock, we'll even renegotiate your loan terms.
Fund Your Flipping Business
Distressed properties can often be a source of great profit. However, securing financing for properties in disrepair can be challenging, as most lenders will only accept collateral in decent condition to protect their debt obligation. With our hard money and private capital connections, investors are free to pursue fix & flip ventures whenever and wherever opportunity strikes.
Condotels:
Non-Warrantable Condos
Investors who are looking to pick up condotels to boost their cash flow with short term rental units, look no further. Our partners understand that condotels are attractive STR investments, and provide flexible and competitive financing to grow your portfolio. Homebuyers looking for condos not fit for government nor conventional financing to reside in also have a solution here.
Down Payment Assistance
Up to 10% in Forgivable Loans
In blazing hot housing markets, skyrocketing home values make gathering a suitable down payment challenging. With a wide spread of down payment assistance programs, such as the 0% interest CalHFA Equity Builder loan, fully forgiven after 5 years of primary residency, we are prepared to provide a boost to your buying power.
Physician Loan Programs:
Flexibility and 0% Down
We understand that as a new professional in the medical industry, it can be challenging to meet the strict income history requirements for traditional mortgages. We have teamed up with lender partners offering flexible underwriting guidelines and 0% down payment options for our medical professionals seeking to take their step into homeownership.
Farm Loans:
Hobby Farms & Commercial
Been slapped with a rejection from lenders due to the property of interest being zoned Ag, schedule F (Farm) income, horse stalls or arenas, crops, or any other agricultural-related vice on the property? We are proud to offer full purchase and refinance programs for hobby farms, rural property, and commercial farms.
Use Your VA Benefits
Only for those who have served. This government backed program typically sports a discounted rate, and is one of the exceedingly rare loan programs that requires no down payment. Veterans 10% or more disabled also qualify for additional benefits on top of these terms.
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No Income Mortgage
For investors who have hit the max limit of simultaneously financed properties as per Fannie Mae or Freddie Mac, or who do not wish to provide personal income documentation for your loan, your solution lies here. Qualify for your investment property loan simply by the Debt Service Coverage Ratio (DSCR).
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Turn Your Vision into a Home
Do NOT go through the added expense, time, and stress of taking out a lot purchase loan and construction loan separately.
With construction to permanent loans, a simple, one time closing process will finance both the lot purchase and the cost of construction. By eliminating an additional closing, you save time and money.
Assets, Not Income
Even if you have the liquid assets on hand to purchase a home in cash, there are many reasons you wouldn't want to. Perhaps doing so would force you to liquidate investments with a high rate of return, such as stocks or options. Perhaps you want to retain cash on hand as a financial safety measure. Even with no income, we can qualify you for financing simply on your liquid assets.
Foreign National:
Not a US Citizen? No Problem
Qualified foreign nationals residing overseas should absolutely be able to finance their US-based properties, and through several of our lender partners, we can make this possible with realistic and flexible documentation requirements and guidelines.
Commercial Loans:
Truly Own Your Business
Turn your rented base of operations into one you truly own with our line of commercial loan programs for both purchase and refinance. Build equity in your business property, and take pride in knowing your payments now flow back into your enterprise, rather than to a corporation's pockets.
Cryptocurrency:
Crypto as Collateral
We have partnered with several prominent lenders that have opted to be among the very few who accept cryptocurrency as collateral for a home mortgage. Not only can you use this program to avoid selling your holdings and incurring capital gains taxes, but you can also potentially qualify for 100% purchase or refinance LTV.
Vacant Land Loans:
Undeveloped Land Purchases
Similar to distressed properties, vacant and undeveloped land can also be challenging to finance, due to the riskier nature of the collateral compared to developed lots with properties. Once again, we have solutions. For those of you who see opportunities lying in wait within these often overlooked parcels of land, reach out to us.
Big Homes, Bigger Solutions
The largest of homes require the largest of solutions. Across our 50+ partners, several specialize in jumbo financing. We have even partnered with some depository institutions to offer highly competitive jumbo financing. For loan amounts above $5MM, please reach out to us for availability.
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Self-Employed Solutions
Attention all self-employed workers! Do you write off too much of your income each year to qualify for a mortgage loan you need? It's only natural for you to avoid paying more than you need in income tax, but all too often, the taxable amount left over isn't enough to qualify for a traditional mortgage. Let us qualify you for your dream home with only bank statements!
Fund Your Retirement
62 years of age or older? Have a home that is owned with no mortgage, or with a very small mortgage relative to the home's value? Want to retire in financial security with a lump sum of cash or monthly cash disbursements while never having a monthly mortgage payment? Explore your options with an efficient, effective solution: the reverse mortgage.
Buy Now, Sell Later
Need to move, but don't want to be rushed into listing your home, having deadlines force you to accept lowball offers, and possibly risk having to rent a hotel to tie you over? Or maybe you just feel like the current housing market would not allow you to sell at the right price. Buy a new home now and sell on your schedule with a bridge loan.
Blanket Loans:
Close Multiple at a Time
For the experienced investor, a blanket loan is a powerful tool. Close on multiple properties at once with this loan program, eliminating the excess cost, time, and credit effects of applying for multiple individual mortgages. Flippers, developers, business owners, and builders will all be well-served with this dynamic financing tool.
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Manufactured/Mobile:
Single, Double, or Triple Wide
In high cost of living areas, mobile or manufactured homes can be an affordable way to enter homeownership. Though lenders tend to be much more strict when lending on these property types, or refuse to lend entirely, we have partnered with lenders exclusively procuring financing for single, double, or triple-wide mobile or manufactured homes.
Keep Your Rate Small
Want to cash in on your equity? Don't want to touch your first mortgage rate? We have the solutions you've been looking for. As alternatives to a cash out refinance, Home Equity Lines of Credit (HELOCs) or Home Equity Loans (HELOANs) will allow you to leave your first mortgage rate intact, while still placing cash in your hand for renovations, investments, and more.
Don't See What You Need?
If you've scrolled through our options, you'll see that we offer an expansive array of programs that covers virtually every practical financing scenario. We STILL have more options not covered in this grid, so if you have a scenario you'd like to run by us, send us an inquiry through our contact form below!