Frequently Asked Questions

For the typical borrower Valley Mortgage Company, Inc. has available several conventional fixed rate loan products at the prevailing competitive rates. Terms extend from 10 to 30 years with up to 95% financing for qualified borrowers and up to 97% financing for qualified first-time home buyers.

Also available are a variety of variable rate loans including the 5/1, 7/1 and 10/1 convertible and non-convertible ARM's aimed to qualify the borrower with income growth potential. Variable rate loans typically offer the borrower a lower rate initially in place of the fixed rate security, ideal for the borrower who plans to own the property for a shorter term.

Valley Mortgage originates FHA loans insured by the United States Department of Housing and Urban Development (HUD). For the borrower looking to finance the median priced home as established per county, our lenders offer special government insured loan products. FHA loans are a great option for the qualified borrower who needs maximum financing.

Rural Housing Services guaranteed loans open the door to home ownership for many who would otherwise not qualify for a conventional mortgage by offering 100% financing of the purchase price, closing costs and prepaids so long as the appraised value permits. This product is the solution for the borrower meeting sliding scale income restrictions with good credit but little money available for a down payment, closing costs or prepaids.

To secure construction money for the customized dream home, Valley Mortgage Company, Inc. can arrange the requisite financing with the appropriate third-party provider.

Available on new purchases and refinances, a rehab loan can realize all the potential a home can offer. A property that does not otherwise qualify for financing can become a beautiful home with a conventional rehab. Rehab loans also help the homeowner build an addition, install a new roof or remodel a kitchen.

Commercial financing has it own specific criteria and structure. While some properties that contain both commercial and residential use might fall within the guidelines for mixed use financing, most properties with commercial activity require commercial financing. Typically commercial loans are considered by lenders on a case specific basis. We can analyze your need and advise you accordingly.