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Products
Luckybulb Inc. offers a variety of loan programs to meet your needs. We work with the leading lenders in the industry to provide:
 
Conventional Loan
FHA Loan
HECM (Reverse) Mortgage
Jumbo Loans
Non Qualified Mortgage (QM)
USDA
VA Loan

Conventional Loan

Conventional loans with a minimum down payment of 3% are available and have a mortgage insurance requirement.  Conventional loans with no mortgage insurance require a minimum 20% down payment.

Fannie Mae: Conforming, High Balance, Home Ready

Freddie Mac: Conforming, Super Conforming, Open Access, Home Possible


FHA Loan

FHA loans are secured by the Federal Housing Administration (FHA).  Designed for lower income, first time homebuyers and/or buyers with less than perfect credit.  Minimum required down payment on purchases of 3.5%.  Mortgage Insurance required on all FHA loans.


HECM (Reverse) Mortgage

The HECM (Home Equity Conversion Mortgage) more commonly referred to as a reverse mortgage is designed so the homeowner has no monthly mortgage payment.  Mortgage Insurance is required on all Reverse Mortgages. 

If you will be at least 62 years of age in the next six months you are eligible for a HECM (Reverse Mortgage).  Please contact Luckybulb for more detailed information. 


Jumbo Loans

Jumbo loans have a minimum loan amount of $453,101 set by the Federal Housing Finance Agency (FHFA).  Jumbo Loans are non-conforming loans which, as a result, are not eligible to be purchased, guaranteed, or securitized by Fannie Mae or Freddie Mac guidelines.  Please call for specific Jumbo Loan guidelines and requirements.


Non Qualified Mortgage (QM)

Non Qualified Mortgages are mortgages that do not meet standard guideline requirements.  Such as:

-  Self Employed bank statement qualifying

-  Investment property debt service ratio loans

-  Borrowers with recent credit events and low credit scores


USDA

USDA loans are specific to rural properties located in designated areas and have household qualified income limits.  USDA offers 100% financing with mortgage insurance.  Please call to see if your property is in a designated area and your income does not exceed the limit. 


VA Loan

VA Loans are available to service members and veterans that have earned their home loan eligibility through their military service.  VA requires no minimum down payment and has no mortgage insurance requirements.




Unless otherwise indicated, these APR calculations are based on the following: Conforming loans (whose maximum loan amount is below $484,350 for the contiguous states, District of Columbia, and Puerto Rico or below $636,150 for Alaska, Guam, Hawaii and the Virgin Islands) are calculated based on a loan amount of $417,000 with closing costs of $8,340. Jumbo Loans (whose maximum loan amount exceed $484,350 for the contiguous states, District of Columbia, and Puerto Rico or exceed $636,150 for Alaska, Guam, Hawaii and the Virgin Islands) are calculated based on a loan amount of $1,000,000 with closing costs of $20,000. Your actual APR may be different depending upon these factors.