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WHAT WE’RE OFFERING
GenNext.Mortgage offers the widest selection of mortgage programs to address your home-buying needs!
Types of Loans
Repayment Types

Conventional Loans
A Conventional Loan is a mortgage loan that is not guaranteed or insured by the government. This type of loan is typically issued by private lenders, such as banks and credit unions. Conventional loans are subject to more stringent lending standards than government-backed loans, such as FHA loans and VA loans. This means that borrowers may need to have a higher credit score and a larger down payment in order to qualify for a conventional loan.

FHA Home Loans
An FHA mortgage, or Federal Housing Administration loan, is a mortgage that is insured by the Federal Housing Administration (FHA). The FHA is a government agency that was created in 1934 to help make homeownership more affordable for low- and moderate-income borrowers. FHA mortgages have more lenient credit and down payment requirements than conventional mortgages, making them a good option for borrowers who might not otherwise qualify for a mortgage.

VA Loans
A VA loan is a mortgage loan guaranteed by the U.S. Department of Veterans Affairs (VA). It is a powerful benefit available to Veterans, Service members, and eligible surviving spouses to help them buy, build, or improve a home.

Jumbo Loans
A Jumbo Loan is a mortgage that exceeds the loan limits set by Fannie Mae and Freddie Mac, the government-sponsored enterprises that buy and sell mortgages from private lenders. In 2023, the loan limits are $726,200 for a single-family home in most U.S. counties (and $1,089,300 in high-cost areas).

USDA Loans
A USDA mortgage is a loan that is insured or guaranteed by the United States Department of Agriculture (USDA). These loans are designed to make homeownership more affordable for low- and moderate-income borrowers who live in rural areas. USDA mortgages have a number of advantages over traditional mortgages. First, they typically have lower interest rates than conventional loans.

Construction Loans
A Construction Loan is a short-term loan that is used to finance the construction of a new home or other building.VA loans offer many benefits, including: No down payment required. No private mortgage insurance (PMI).
Repayment Types

ARM Mortgages
An adjustable-rate mortgage (ARM) is a type of mortgage loan in which the interest rate may change periodically, usually every year or every few years, after an initial fixed-rate period. The interest rate on an ARM is usually based on an index, such as the LIBOR (London Interbank Offered Rate), plus a margin. The margin is the amount that the lender adds to the index to determine the interest rate on your loan.

Interest-Only Loans
An Interest-only loan is a loan in which the borrower pays only the interest for some or all of the term, with the principal balance unchanged during the interest-only period. Interest-only loans are often used for investment properties, as they can help to reduce the monthly payments and free up cash flow. However, interest-only loans can also be risky, as they can lead to higher interest costs over the life of the loan.

Fixed-Rate Mortgages
A Fixed-rate mortgage is a type of mortgage loan in which the interest rate remains the same for the entire term of the loan. This means that your monthly payment will also remain the same, which can provide stability and predictability in your budget. Fixed-rate mortgages are a popular option for homebuyers because they offer a number of benefits, including: