Impac Mortgage - offers a full line of competitively priced mortgage loan programs to meet your unique needs
HUD's Federal Housing Administration (FHA) created the Home Equity Conversion Mortgage (HECM). A HECM aka Reverse Mortgage, is a federally insured loan that enables you to withdraw some of the equity in your home or use the loan proceeds to buy a new primary residence that you will occupy. Many seniors use a Reverse Mortgage to supplement social security, meet unexpected medical expenses, make home improvements and more.
62 years of age or older
Property used as collateral must be the primary residence
No delinquencies on any federal debt, suspensions, debarments, or excluded participation from FHA programs
Completion of HECM counseling
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The Home Affordable Refinance Program (HARP), will provide many homeowners who were previously not eligible to refinance their mortgage due to declining property values, the opportunity to refinance at a lower interest rate or obtain a fixed rate mortgage product. Regardless of whether the property values in your area are down, a HARP product may still be able to lower your rate and save you money. This program has been extended until 2015.
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Impac Mortgage now offers HomePath financing directly through Fannie Mae and is only available for Fannie Mae-owned properties. This means you may get a loan for a Fannie Mae foreclosed property with the benefits of a low down payment, no mortgage insurance and no appraisal. This is an excellent option for first time home-buyers as a primary residence, investment purchase or a second home.
Learn more about HomePath financing | Free Consultation
With Impac Mortgage's Jumbo loan, borrowers can purchase or refinance a home and borrow up to $3 million for 1-unit primary residences, second homes and investment properties. Payoff or seasoned 2nd lien okay with rate/term refinance. We offer fixed and adjustable rate programs.
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203(h) is an FHA loan program designed to help disaster victims whose primary residence, whether owned “or” rented, was destroyed or damaged to such an extent that reconstruction or replacement is necessary. The property must be located in a President-declared disaster area. Some of the major benefits are that the borrower may relocate anywhere in the U.S which means the borrower does not have to purchase a home within the same area.
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203(k) Home Renovation
With Impac Mortgage’s Home Renovation 203(k) loan program you can refinance or purchase plus renovate all-in-one mortgage. Great for fixer-upper properties as well as investors. This program is truly unique and a great solution for buyers, current homeowners.
Learn more about 203(k) Home Renovation loans | Free Consultation
With Impac Mortgage’s FHA/VA/USDA loans you have the flexibility of a lower down payment, lower credit score requirements and ease of fixed monthly payments. Qualifying for a home has never been easier with our Government programs. USDA loan programs also extend to rural areas across
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With Impac Mortgage’s Conventional loan you can choose between a fixed or adjustable rate mortgage. With a fixed mortgage, you enjoy the ease of a fixed monthly payment that never changes throughout the term of the loan. This type of loan might be a good choice if you are planning on staying in your home for a long period of time. With an adjustable rate mortgage, you enjoy lower monthly payments and frees up your monthly cash flow for other expenses such as credit cards or other types of loans. We have terms to fit your budget.
Learn more about Conventional Loans | Free Consultation