Jessica Renee Sandler
Loan Officer
VA License #MLO-2879
WV License #MLO-31115
NMLS # 72125
(click link above to check license)
Direct: 757-201-0131 (cell)
Mobile: 757-498-7400 (office)
Fax: 757-605-4668
200 Golden Oak Court, Ste. 100
Virginia Beach, VA 23452
Which loan product is the best for your personal circumstances?
We can help you decide.
Finding the right loan to fit your needs depends on your personal circumstances.
Here a few questions that are important to your decision making process:
- How long you intend to keep your home?
- What is your current financial situation?
- How you expect your finances to change?
| Features | Recommended For | |
| Fixed Rate Mortgage | Monthly principal and interest (P&I) payments that stay fixed for the entire life of the loan | Borrowers who prefer regular payments with no surprises |
| Protection from rising interest rates | People with limited or fixed incomes | |
| People who plan to stay in their homes a long time | ||
| People who are refinancing at a time when interest rates are comparatively low | ||
| Adjustable-Rate Mortgage | Interest rate that is fixed for an initial period, then adjusts periodically based on market conditions | People looking for lower monthly payments in the short term |
| Lower initial rate than with a fixed-rate mortgage | People who plan to move or refinance again within a few years | |
| A variety of fixed-period options | ||
| Jumbo Loans | Mortgage amounts in excess of the conforming loan limit1 set by Fannie Mae and Freddie Mac | Homeowners who need to refinance a property with a higher appraised value and can handle larger monthly payments |
| Also known as nonconforming loans | ||
| Typically carry higher interest rates | ||
| Lender-Paid Mortgage Insurance Option | Bypasses mortgage insurance costs when your loan-to-value ratio is more than 80% | Homebuyers without enough cash for a 20% down payment |
| Homeowners who plan to move or refinance within ten years | ||
| VHDA | Minimal or No down payment requirements | First time homebuyers with little or no down payment |
| Flexible income, credit and debt guidelines. | ||
| FHA Loan | Low down payment requirements | First-time and repeat homebuyers |
| Flexible income, debt, and credit requirements | Homebuyers with limited funds for down payment | |
| Down payment and closing costs may be funded by a gift or grant | Homebuyers with less than perfect credit | |
| Homebuyers who need a non-occupant, co-borrower | ||
| VA Loan | No down payment required | Eligible military service members (may include veterans, reservists, active-duty members)4 |
| Flexible income, debt, and credit requirements | Eligible homebuyers with limited funds for down payment | |
| Down payment and closing costs may be funded by a gift or grant | Eligible homebuyers with less-than-perfect credit | |
| FHA Streamline Refinance | Reduced documentation requirements | Current FHA mortgage holders who want to: |
| Less processing time than a full FHA refinance | Reduce monthly payments by refinancing to a lower interest rate | |
| Closing costs may be financed | Refinance as quickly and conveniently as possible | |
| VA Interest Rate Reduction Refinance Loan (IRRRL) | Reduced documentation requirements | Current VA mortgage holders who want to: |
| Less processing time than a full VA refinance | Reduce monthly payments by refinancing to a lower interest rate | |
| Closing costs may be financed | Refinance as quickly and conveniently as possible | |
| FHA 203k | Allows borrowers to finance repairs and or improvements | Borrowers that would like to purchase or refinance a home while doing improvements to the property |
| Reverse Mortgage | A reverse mortgage is a special type of loan that allows you to utilize the equity in your home and receive tax free cash, monthly income, and/or a cash credit line. A reverse mortgage may also be utilized to purchase a new home. | How much money you qualify for is based on your age, the value of your home, and the program you select. |
