Loan ProgramsThe following is a partial list of programs offered by Clark Financial Group with a brief description of the key elements of each. For a complete list of the programs that we offer, please contact us at 616-954-3941.
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SPANISH APPLICATION
Call Tim Miller today at 616-954-3941 x2007 to apply in Spanish
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Rural Development
Rural Development offers 103% financing on the purchase of a home outside the city limits.
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Conventional
Traditional loan programs that usually require 5% down and offer competitive interest rates. Documentation and fair-to-good credit are necessary.
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VA Mortgages
Backed by the Veterans Administration and the federal government, it is similar to FHA except that you have to be a qualified Veteran or military person.
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FHA Mortgage
Backed by the Department of Housing and Urban Development, this mortgage offers the borrower the ability to put as little as 3% down payment – and they can even finance “allowable” closing costs. Seller can contribute up to 6% of the purchase price to the buyer towards closing costs.
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Investor Loans
Used to finance 1-4 family properties that will be for investment with as little as a 10% down payment. Aggressively priced, these programs have many variations, including: No Doc, Limited Doc, and Full Doc. Program may not be available in some states.
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Construction Loans
Building a new home can be an exciting prospect - unless you get caught up in a construction loan approval process that is overly complicated and time consuming. With this loan, we will finance up to 90% of the cost of land plus the costs of construction. We offer a one-time fixed rate closing or traditional ARM products.
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Jumbo Loans
Offers 30 and 15 year fixed rate mortgage and competitive ARM products with full document, alternate documentation and limited documentation.
Cash out and No cash out refinance are allowable. Single family detached, Condo's, PUD's and single-family second homes can be financed with no prepayment penalty.
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103% Purchase
0% down payment required and closing costs can be financed up to 103% of the purchase price. Only single-family homes that will be owner-occupied are eligible. First time homebuyer status not required and there are no income limits.
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Credit Problems
Troubled credit? Bankruptcy? Been turned down somewhere else? We offer loan programs for customers with credit problems.
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Reverse Mortgage
A reverse Mortgage is a loan designed for the senior community for ages 62 and up. This loan is to help in improving cash flow and monthly income by eliminating the monthly payment paid out of pocket by the borrower. Call today to get more information about how this loan can help you are a loved one cope with the rising cost of living or to better structure their current debt load.
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