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Home  Loan Programs
Loan Programs
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Every customer is an individual and every situation is unique. LFS Home Loans works with borrowers of all credit backgrounds on a one-to-one basis to ensure that their needs taken care of and their expectations are completely met. Call your licensed mortgage consultant today and find out how we can work for you. There are many different terms and programs offered by LFS Home Loans, and if one doesn't fit your exact needs, we will search the top lends in the country and leverage our experience to tailor a loan program to meet your needs and documentation requirements. Some of the most common loan programs are linked below. And of course call us at 1-866-812-4826 if you have any questions. More Loan Program Information:
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Purchase Loans
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Opening the door to home ownership. LFS Home Loans is proud to help borrowers purchase homes everyday. Give us a call at 1-866-812-4826 and let us open the door to home ownership for you. Whether you have perfect credit or have had some trouble in the past, LFS Home Loans has a purchase loan tailored for your individual needs. Whether you are looking to buy your first home, the place where you will retire, or something in between, we have the experience and the expertise to help you get the best loan at the best terms possible. - Recently Announced! The Housing Initiative for North Carolina and Virginia. This is an exciting loan program that fits many borrowers. Recent U.S. Citizen with no credit? Public Safety, Health Care, or Education Worker? First Time Buyer? When many banks would turn you down or require a significant downpayment, we can help you get into a home for as little as $500. With our North Carolina & Virginia Housing Initiative, LFS Home loans is helping more people achieve the dream of homeownership. Are you ready to take the next step? Click here for more information about this exciting home purchase program.
 First Time Home Buyer Programs. LFS Home Loans works with first-time buyers everyday. Our exciting Housing Iniative program has lenient guidelines to open up homeownership to many people, but even if that particular program isn't right for you, we can help. Our team understands the needs of first-time buyers and we have other programs that can be tailored to meet your individual needs. Stop renting and start building wealth. You can own your own home. Click here for more information about first time homebuyers.
- 100% or Great Financing. Have little money to put down? Maybe you want to go to the closing table with no money at all. We can help. LFS Home Loans can help qualifying borrowers obtain financing for 100%, 103% or even 106% of the purchase price, allowing you to save your money and savings for other things such as home improvements and furnishings. We will work with you and structure your deal in a way that benefits you and your financial future. Click here for more information about 100% or greater finance options.
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Construction Loans
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Why by a home with someone else's problems and past, when you can move into a brand new home designed around your family and your lifestyle? Want a little larger bedroom? Need some extra closet space. Do you really want a basement and cathedral ceilings? You can control it all when you build your home the way you want it, and at the same time create instant equity and wealth. LFS Home Loans offers the following residential construction financing options: - Construction-to-Permanent Mortgage Financing offers borrowers the chance to hire a General Contractor and build their dream home. Construction-to-Perms are generally One-Time-Closing loans where the borrower can close on the lot, the construction, and the permanent financing all at once. One-Time-Close Loans (sometimes referred to as OTC loans) potentially save the borrower thousands of dollars in fees and expenses. These loans also alleviate the uncertainly of conducting three different transactions, because the borrower qualifies one time, up front, and doesn't have to worry about changing market conditions, rates, or items in their personal life that might alter their qualification ability. Click Here For More Info on Construction to Permanent, One-Time-Close Loans.
- Owner-Builder Construction Loans allow a borrower to build their own home, without a third-party General Contractor. Experienced tradesmen can act as their own contractor and novice builders can hire supervisors to advise them during the process for less than it would cost to hire a traditional builder. Owner-Builder loans help borrowers create instant equity and wealth in their property and control ever aspect of the construction process. Click here for More Info on Owner-Builder Construction Loans.
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Refinance Loans
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Sometimes the most important thing you can give your family is financial security. So many things compete with your money every month, and before you know it the bank account is squeezed. From braces to tuition, home improvements and auto payments... your money often seems to go out as fast as it comes in. LFS Home Loans can help. We can't control all of your monthly expenses, but we can help with your mortgage. From debt consolidation loans to rate & term reductions and cash-out refinances, LFS Home Loans will help you improve your monetary situation and increase your family's financial security.
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Home Equity Lines
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Reusable Credit for your Home. A Home Equity Line of Credit (HELOC) functions much like a low interest credit card. A lender gives you a credit line, and you can use that credit line for whatever purposes you desire. You only pay interest payments on the actual amount of money that you borrower. You can pay back some or all of the money, and reuse the credit line again and again. HELOCs differ from Credit Cards because they have lower interest rates. However, they are secured by your home, which means if you fail to pay back your debt, the lender can try to foreclose on the property. HELOCs are often used as a safety net. People get them, just in case. If you lose your job, you can use the credit line to help keep the bills paid until you find work again. If you have an emergency, you can use your credit line to pay for it. If you have sudden expenses, such as automobile repairs or medical bills, a HELOC can come in handy. Oftentimes HELOCs are also used to pay for tuition expenses or to help finance an upstart business. A HELOC can also be used to help pay off other debts. If you have various credit cards at rates higher than the rate of a HELOC, it might make financial sense to pay off those cards with an Equity Line of Credit, consolidating them into one bill and considerably lowering your monthly payments.  By far one of the most useful reasons to get a home equity line of credit is to fund home improvement projects. Want to redo your kitchen, paint the exterior of your home, or replace some outdated appliances? Get a checking account and a gold card with your home equity line of credit to spend on the things you need for your home, and enjoy the tax benefits of a mortgage that other finance options don't provide.
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Commercial Loans
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Some mortgage brokers tell you they can help you with your commercial loans, but can they really? Do they have the experience funding commercial projects? Have the funded multiple residential developments, commercial construction projects, retail stores and auto mechanic shops? Have they funded mixed unit residential properties, apartments, and group homes? If your mortgage broker says they can help you with your commercial loan, but don't have much experience, all I can suggest is that you RUN. Commercial loans are not the same as residential loans. The differences are night and day, and understanding that is just the beginning to being an effective funding source for commercial real estate projects. LFS Home Loans and Labrador Financial Services, Inc. has a proven track record of successful commercial real estate financing. When you are ready to open for business, give us a call. We're the team that will make your commercial dreams a reality by providing you with the financing and the consultation that you need.
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Documentation Types
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LFS Home Loans offers a variety of Documentation Types to meet the needs of our customers. We understand that every borrower is not able to fulfill the requirements of traditional full documentation programs, and many more who could provide the extensive documentation don't want to. For that reason we offer a variety of options for our customers, and will work with them to find the solution that best meets their individual needs. We also offer Mortgage-Only and Bank Statement Programs that will allow borrowers to qualify by their payment history, or by their bank statement deposits instead of standard income tests. Click on one of the links above for additional information about each documentation type.
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