At Intercoastal Mortgage Company…

we have many different products that will fit your needs!

 

conventional loan

Fixed & ARM Loan

Fixed Rate Mortgage

Intercoastal Mortgage Company offers a variety of fixed rate programs, including traditional conforming loans, FHA loans, VA loans and jumbo programs. A traditional fixed rate mortgage provides you with the security of a steady payment for the life of the loan and is a great option for many home buyers. While most homeowners looking for a fixed rate choose a 30 year fixed mortgage, we also offer shorter terms that can be a great option for borrowers that can afford a higher monthly payment and wish to pay off their loan in 20, 15 or even 10 years.

Adjustable Rate Mortgage

An adjustable-rate mortgage (ARM) usually offers a low initial rate that can increase after a pre-set period. Intercoastal Mortgage Company offers ARM loans with the initial fixed periods of three, five, seven and ten years. These programs are attractive for borrowers that are looking to stay in their home for less than the fixed period or for experienced homeowners that understand the risks and benefits of an adjustable rate mortgage.


bridge loan

A bridge loan covers the gap between when you close on a new home and when you sell your old home.

A bridge loan covers the gap between when you close on a new home and when you sell your old home. Typically, it is a short-term loan, with a duration of around one year. Our team assists you in securing a bridge loan to pay off your first house while putting the remaining funds, minus closing costs and six months of interest, toward the down payment on a new house. This type of loan lets you make a competitive offer on a property, even if your first house has yet to sell.


government loans

Federal Housing Administration (FHA) Loans

FHA loans are an attractive option, especially for first-time homeowners because they are insured by the Federal Housing Administration. Additionally, FHA loans may offer lower interest rates and are more flexible with credit scores. Typically, the borrower can be approved with 3% down vs 10%, 15% or 20% that is required on other loan programs. Additionally, FHA loans have lower interest rates and are more flexible with credit scores.

Veterans Administration (VA) Loans

Intercoastal Mortgage Company is an approved VA lender with the expertise and programs to help veterans finance their home. A VA Loan is designed to offer long-term financing to Veterans in all branches of the Military. It is generally easier to qualify for a VA loan than conventional loans and requires no down payment. Other benefits include lower interest rates, a wider range of acceptable credit scores, and no mortgage insurance premiums.


first time homebuyer program

Home Ready & Home Possible

We offer Freddie Mac’s Home Possible® Mortgages and Fannie Mae’s HomeReady® Mortgages that allow low down payment and flexible credit terms. Now it is easier than ever to buy the home of your dreams.

  • Buy with as little as 3% down

  • First time or repeat buyer (cannot own other real estate at the time of closing)

  • Stable monthly payments with fixed-rate mortgages

  • Reduced mortgage insurance coverage levels

Virginia Housing Development Authority (VHDA)

In an effort to stimulate the home buying for first time buyers – VHDA has a limited Down Payment Assistance Grant Program


home improvement

No construction or renovation project is exactly alike. Intercoastal Mortgage Company provides lending solutions that meet your project’s specifications, from refurbishing your existing property, to purchasing and restoring your future dream home.


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 used for the purchase of higher priced homes and high-end construction homes. Intercoastal Mortgage Company offers a variety of competitive jumbo loan programs.


refinancing options

If you love your home but not your loan, I can discuss options that can help you lower your rate and/or payment and in some cases allow you to take equity out of your home for debt consolidations, expenses, etc.

          *  Lower Interest Rates

          *  Lower Monthly Payments

          *  Getting Cash Out

          *  Debt Consolidation

          *  Converting ARM to a fixed rate mortgage

          *  Shortening the term of your loan