Loan Options

Your Home Mortgage Loan Options

There are several loan options available when purchasing a home. Listed below are some of the home loan options offered by Premier Nationwide Lending. If you have any questions concerning the home loan process, please contact your Premier Home Mortgage Loan Expert who is on standby ready to assist you with your home mortgage needs.

FHA Lending

FHA loans are government-insured loans backed by the Federal Housing Authority. These guidelines offer the best hope for many borrowers to qualify for home loans on good terms they can afford.

Lower Downpayment

FHA loans require the lowest downpayments, and allow people to buy homes and start building equate sooner.

Lower Mortgage Insurance

In most cases, the monthly mortgage insurance fee paid on an FHA loan is lower than the fee paid on a conventional mortgage. This results in a lower monthly payment overall.

Better Interest Rates

FHA loan rates are generally very competitive.

Higher Debt Ratios

You can qualify with a higher total monthly debt for an FHA loan than you can for a conventional loan.

Higher Seller Contributions

There is a higher allowable seller contribution on FHA loans than there is on many conventional loans—6 percent as opposed to 3 percent. This means that you can negotiate for the seller to pay most, if not all, closing costs.

Conventional Fixed Rate Loans

A fixed-rate mortgage may be an ideal option if you:

  • Are concerned that interests rates will increase and you want the predictability of a fixed interest rate.
  • Want to be able to determine what your payment will be for years to come in order to plan out your budget.
  • Expect to own the home for many years.

Adjustable Rate Loans

An adjustable rate loan may be ideal if you:

  • Have a plan in place to move to a different home before the end of the initial rate period.
  • Are certain your income will increase enough in the future to cover the increase of the mortgage interest rate.
  • Require a lower monthly payment than what you can expect from a fixed-rate mortgage.

VA Loans

The VA Loan program is the most powerful home loan program on the market for many veterans, service members and military families. These flexible, government-backed loans come with significant benefits that open the doors of homeownership to veterans who might otherwise struggle to obtain financing.

No Down Payment

Saving money and building credit can be difficult for service members who are constantly on the move. With the VA Loan, qualified borrowers can finance 100 percent of the home’s value without putting down a dime.

No Private Mortgage Insurance

With a VA Loan, there is no PMI. This is because the federal government backs all VA Loans and assumes the risk on behalf of the borrower that is typically covered by the PMI.

Competitive Interest Rates

Pair that lower interest rate with the ability to purchase a home with no money down and no private mortgage insurance and the savings start adding up significantly.

Basic Allowance for Housing

Basic Allowance for Housing (BAH) is a significant benefit for qualified active military members. Lenders can count your Basic Allowance for Housing as effective income, which means you can use BAH to pay some or all of your monthly mortgage costs. BAH varies based on your pay grade, your geographic location and your number of dependents.

Jumbo Loan Programs

A jumbo loan mortgage is any home loan that is more than the conforming limit of $417,000 according to Fannie Mae guidelines on conventional mortgages. FHA mortgages however have upper mortgage limits that are set for each county starting at the lowest loan limit of $271,050. Since most banks do not have programs available for jumbo loan mortgage products they have become one of our specialties. Our Jumbo Mortgages are also available as a portfolio product for expanded guidelines outside of conforming limits. We have several jumbo loan mortgage programs that will put you in control of your mortgage investment.

Rural Housing

Rural Housing Development

  • Moderate income limits apply
  • No Down Payment Required
  • No Prepayment Penalties
  • No Limits on cash contributions
  • Can purchase an existing home or build a new home

* Loan programs are subject to credit and property approval. Other guidelines may apply.

Residential Mortgage Loan Originators

15 years experience as a mortgage loan officer and branch manager.


Loan Center

Checklist

What you will need to ensure a smooth home mortgage process.

Loan Options

There are several loan options available when purchasing a home.

Down Payment Assistance

Find out more about special programs and who qualifies.

Calculator

Wondering how much you can finance?

Testimonials

Joe Stiles walked us through our home financing process with patience and attention to detail. He was available to us for questions and provided honest feedback. We appreciate Joe and his diligence to see us through this potentially overwhelming step into home ownership. We highly recommend Joe Stiles!

Bo & Laurie T.

A big thank you to Joe Stiles who was so helpful in our recent home-buying experience. He was very pleasant to work with and made the process enjoyable with his friendly, humorous manner. We found him to be very knowledgeable as he helped us navigate through this process successfully. His helpful guidance enabled us to hit our target closing date. Thank you Joe.

Jay and Kathy S.

Joe Stiles had been nothing less than wonderful during my loan process. He helped me purchase my first home and it closed in less than 30 days. He's definitely a notable person to work with.

LaShawnda J.

As a first time home buyer I was worried. I've heard horror stories of how stressful of a process it can be. Joe was GREAT! He was always ahead of the game. He gave good pointers of what I could do to help things run smoothly. He truly made buying my first home that much more enjoyable of an experience. Thanks Joe!

Rachael M.

We have refinanced our home many times. Joe Stiles is the best loan expert we have come across in this crowded market place. He takes great care of his clients by following thru his commitments. I would recommend Joe to anyone who needs a mortgage loan.

Satish & Uma S.

It was a long arduous road to travel, on the journey to owning my new home. I could not have asked for a better companion than Joe Stiles.There were points I was ready to throw in the proverbial towel. Joe's assurances that everything would work out, were comforting. With so much new regulation, it is so important, now more than ever, to work with a Professional who knows all the ins and outs of the mortgage process. Thank you Joe!

Brian D.

My wife and I recently closed on the purchase of our home, needless to say one of the most important decisions in life and at the same time one of the most stressful experiences to go thru. However we were very lucky in having worked with Joe Stiles to secure our mortgage loan. Mr. Stiles was very professional, very knowledgeable and also very patient in explaining everything we needed to understand, while at the same time very mindful of timelines to meet and keeping us informed at all times. I would certainly work with Mr. Stiles again and would verify his excellent professionalism and industry knowledge to anyone who is looking to secure a Mortgage Loan.

Michael & Vicki

After my divorce I had to refinance my house to put it solely in my name. Mr. Stiles helped me out by walking me through all the necessary steps. He was very patient and willing to work with me to get the best possible refinance that I was able to get.

Alex L.

A little over 10 years ago, Joe Stiles guided us through the process of buying our dream home. This year, he walked us through re-financing our home and made it painless. We appreciate his attention to the details, which made it all possible. Joe brings a personal touch and really cares about his clients

Tom & Amanda S.

During a stressful time in becoming a new home owner, Joe Stiles was there to help me through out the whole process. He was very knowledgeable and had great advice along the way. He instilled a confidence and reassurance in me that I'm afraid another lenders may not have taken the time to do. I am now loving my new home and could not have done it without him. I have already recommended him to several friends and co-workers!

Audrey C.

If you are looking for a trustworthy, economical and fast loan expert, look no more because you have just found him. Joe Stiles, a man of integrity and commitment to his clients, as well as the most patient man is a phone call away. As this is my 1st time buying a home I was clueless to most of the process but his detail oriented self got me through this process with much confidence. Thanks Joe! You did an outstanding job of getting my loan process done and I appreciate you so much. You have helped make my dream come true!!

Hannah H.

Tom and I cannot being to thank you enough for making our mortgage process so painless. To be honest, I was dreading that part of our move as we're both so busy and it's so time consuming. But your professionalism and thoroughness were evident throughout the process and resulted in a seamless closing. We really appreciate you and your guidance!

Jennifer & Tom L.

Joe Stiles and the team at Premier Nationwide Lending are great to work with. Joe and the team were there for me throughout the whole process. If anything arose they jumped right on it and that helped the loan process move along very smoothly. I would highly recommend Joe Stiles and the PNL team to anyone!

Travis G.

Buying a new home in the right area takes a lot of time and research. Getting our loan approved was the easiest part of this major transition because Joe Stiles was quick, efficient and flexible to meet our needs. Not to mention he got us a super low interest rate. He showed up at closing with a gift for me! I felt like we should have had a gift for him!! Thank you Joe Stiles!

Anji & Josh M.

Joe Stiles came highly recommended and rightfully so. Joe's expertise and attention to our needs provided us with the confidence and competency needed in the complicated world of financing a property. With Joe's help we not only purchased a house but a home

Rene & Eleanor

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