Conventional Loans

A conventional loan is the standard loan for good credit risk borrowers who are looking to either purchase or refinance a home. The loan amounts are up to $417,000 for conforming and over that amount is considered to be a Jumbo loan. Rates are slightly higher for Jumbo loans. Conventional loans are available either with a fixed rate or an adjustable rate. The length of term for these loans can be 10, 15, 20, 25, 30 and 40-year terms.

Fixed Rate & Adjustable Rate
Mortgage Insurance is now tax deductible as long as you earn less than $100,000 a year.
Available Adjustable Rates:

• 10/1 ARM Fixed for 120 months, adjusts annually for the remaining term of the loan

• 7/1 ARM Fixed for 84 months, adjusts annually for the remaining term of the loan

• 5/1 ARM Fixed for 60 months, adjusts annually for the remaining term of the loan

• 3/1 ARM Fixed for 36 months, adjusts annually for the remaining term of the loan

• 1 year ARM Fixed for 12 months, adjusts annually for the remaining term of the loan

Home Improvement
From a kitchen renovation to the addition of an office, spa or in ground pool, Embrace is the source for Home Improvements lending. With fast turn around, competitive pricing and no hassle loan approvals, home improvement loans have never been easier or more affordable.

A home improvement loan enables homeowners to tap into the equity from their home to renovate or remodel with cashout refinancing. This type of improvement almost always increases a home's value.

Embrace Home Loans understands that in today's economy home renovations are a great alternative to relocating or just an easy way to make room for children, parents or an in-home business. Whatever the scenario, Embrace offers homeowners the opportunity to turn a house into their dream home.

• Lending programs that offer affordable financing

• 24 to 48 hour loan approval so improvements can start almost immediately

• Convenient and easy application

FHA / VA
FHA or VA home mortgages are popular options for 1st time homebuyers who may have little or no money for a down payment. VA loans are for veterans and require no down payment at all. Both FHA and VA loans are government backed loans and are usually easier to qualify for as compared to a conventional loan. Both are more flexible with regard to credit history and employment verifications.