Loan Options

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Whether you need help negotiating a mortgage or buying a new home, John Gurhy "The Irish Mortgage Guy" can manage all your mortgage needs. My services will take the complications out of the process. You’ll be surprised by how easy your life becomes once we work together— contact me and find out how my services can help.

Loan Types

Meeting Your Financing Needs

Adjustable Rate Mortgage

Adjustable rate mortgages, also referred to as ARMs are home loans with a variable rate which takes effect after initial set period . As interest rates rise and fall in general, rates on adjustable rate mortgages follow but always tend to be lower than fixed rates. A main reason to consider adjustable rate mortgages is that you may end up with a lower monthly payment. This can be beneficial for borrowers who want to sell or refinance their property within 3-10 years.

Fixed Rate Mortgage

With a fixed rate mortgage, the interest rate does not change for the term of the loan; the monthly payment is always the same. Typically, the shorter the loan period, the more attractive the interest rate will be.

Payments on fixed-rate fully amortizing loans are calculated so that the loan is paid in full at the end of the term. In the early amortization period of the mortgage, a large percentage of the monthly payment pays the interest on the loan. As the mortgage is paid down, more of the monthly payment is applied toward the principal.

Conforming Rate Mortgage

Conforming loans are conventional loans that meet bank-funding criteria set by Fannie Mae and Freddie Mac. Both of these stock-holding companies buy mortgage loans from lending institutions and secure them for resale to the investment community. Every year, form October to October, Fannie Mae and Freddie Mac establish limits on what constitutes a conforming loan in a mean home price.

Buying back mortgage loans allow these agencies to provide a continuous flow of affordable funding to banks that reinvest their money back into more mortgage loans. Fannie Mae and Freddie Mac only buy loans that are conforming, to repackage into the secondary market – effectively decreasing the demand for non-conforming loans.

FHA Loans

FHA mortgage loans are issued by federally qualified lenders and insured by the U.S. Federal Housing Authority, a division of the U.S. Department of Housing and Urban Development.

FHA loans are an attractive option, especially for first-time homeowners:

Generally easier to qualify for than conventional loans.
Lower down payment requirements.
Cannot exceed statutory loan limits.

Reverse Mortgages

Reverse mortgages are becoming popular in America. Reverse mortgages are a special type of home loan that lets a homeowner convert the equity in his/her home into cash. They can give older Americans greater financial security to supplement social security, meet unexpected medical expenses, make home improvements, and more.

VA Loans

Immigrant Applicants

I came to the United States in 1986 and was fortunate to get legalized relatively fast. Since my early days in this business I recognized the problems people were having trying to obtain a mortgage if they were not U.S. Citizens. It has been a goal of mine to help those who come to the states from other nations. While banks require clients to have a green card I have lenders who accept work permits or a tax identification numbers to help get you financed. If you are running into road blocks trying to get qualified or if you don't qualify at the moment, talk to me and maybe I can show you how you CAN qualify.

First TimeBuyers

I cannot think of a greater satisfaction than helping young people purchase their first home. I will give you the advice you need on credit, down payments and qualification. Invest in yourself and your future and see how we can get you qualified for a mortgage. Now is the best time to buy! Rates and low thus making your monthly payment more manageable than ever. I can get you pre approval in 15 minutes and full approval in 3 days.

Get in touch for more mortgage information and learn what type of loan is right for you.

Loan Options: Loans

Commercial Loans

Properties with five or more units are considered to be commercial loan and require a commercial loan. These type of loans can be one of the most difficult loans to get approved in the industry. My years of experience and resources make it much easier. Rates with Street Corner Banks tend to be prohibitive. I have programs that can drive the rate as low as conventional rates. You will need 20% to 25% down but, the property will also qualify if it is mixed use. This can include a bar or restaurant which most banks find challenging to finance.

Jumbo Loans

Jumbo Loans exceed the maximum loan amounts established by Fannie Mae and Freddie Mac conventional loan limits. Rates on jumbo loans are typically higher than conforming loans. Jumbo Loans are typically used to buy more expensive homes and high-end custom construction homes, and usually require a higher down payment than traditional loans.

John Gurhy "The Irish Money Man"

If you don't stand for the flag you will fall for anything!