Top Flite Financial goes the extra mile to serve current and prospective homeowners with less-than-perfect credit. Whether you’re looking to purchase a home or refinance your existing mortgage, the friendly team is there to assist you with your home loan needs.
What is Top Flite Financial?
Top Flite Financial takes pride in providing innovative home loan solutions to its customers. Plus, it’s known to have some of the most flexible credit guidelines in the mortgage industry.
They work with prospective home buyers to simplify the mortgage process. Even better, you can choose from an assortment of mortgage products, whether you have stellar credit or your credit score is on the lower end. They lend all the way down to a 500 credit score which is extremely rare.
How Can Top Flite Financial Make Getting a Mortgage Easier?
The team of mortgage professionals at Top Flite Financial are committed to simplifying the mortgage process from start to finish. You can submit an online inquiry or contact a team member today to inquire about securing a home loan. They can also answer any questions you may have, address concerns and provide personalized guidance on the next steps. Their secure Hole N1 Mortgage mobile app is easy to use and a great tool to help you stay informed and complete tasks throughout the process.
Who Should Consider Top Flite Financial?
Top Flite Financial is ideal for any homeowner with less-than-perfect credit that needs to access the equity in their home. They approve the loans most banks and credit unions turn down, and unlike most lenders, lower credit mortgages are their specialty.
Requirements to Get a Mortgage with Top Flite Financial
It depends on the mortgage product you select. Some have more stringent eligibility guidelines than others, so it’s best to consult with a lending professional to confirm the requirements before applying, but Top Flite Financial has the most relaxed credit guidelines in the mortgage industry.
What Mortgage Loan Products Does Top Flite Financial Offer?
Top Flite Financial features several flexible home loan solutions to choose from.
As the leading provider of cash-out refinances for credit-challenged homeowners, Top Flite Financial often says yes when traditional banks and credit unions turn you away. You can pull equity from your home and convert it into cash to consolidate high-interest debt, make much-needed upgrades to your home to increase its value or help smooth out monthly cash flow. These are just a few ways to leverage a cash-out refinance.
FHA Refinance transactions allow for credit scores down to 500 with the max FHA LTV of 80%. FHA Purchase loans are accessible with a credit score as low as 500 with a 10 percent down payment. Otherwise, you’ll need to put just 3.5 percent down to get approved (for scores of 580 or higher). The maximum allowable debt-to-income ratio is 57 percent, so a heavier debt load won’t necessarily prevent you from securing a loan. If approved, you’ll get a fixed interest rate and a loan term between 10 and 30 years.
First-time Home Buyer Mortgage
As the name implies, these mortgages are designed for first-time home buyers. The lending team is here to help take the guesswork out of navigating the mortgage process by providing personalized assistance every step of the way. Ultimately, the goal is for the homebuyer to walk away with the right mortgage and positive thoughts regarding their lending experience.
Fixed-rate mortgages help provide a sense of predictability. You’ll get an interest rate that remains constant for the life of the loan. So, your monthly payments for principal and interest won’t change, making it easier to fit them into your spending plan.
HARP (Home Affordable Refinance Program) loans make it easier to afford your home, even if it’s declined significantly in value. They’re available to homeowners with Fannie Mae or Freddie Mac acquired or owned mortgages (before May 31, 2009).
Home Equity Loans
You can access up to 95 percent of the equity in your home with this product. It comes in the form of a home equity loan or home equity line of credit (HELOC). And if you’re considering a home renovation, Top Flite Financial may merge the loan or HELOC balance with your first mortgage to simplify the repayment process.
Jumbo Mortgage Loans
Access up to $3.5 million to buy the home of your dreams with a jumbo mortgage loan. There’s also a bank statement jumbo loan program that makes it easier for self-employed borrowers to get approved for a larger home loan. This loan product caters to borrowers looking to borrow more than the conforming loan limit of $726,200 (or $1,089,300 in high-cost areas) to purchase a home.
With so many purchase loans to choose from, finding the right option can be challenging. That’s why the team at Top Flite Financial works directly with buyers to identify the most suitable solution based on their unique needs and financial situation.
Reverse Mortgage Loans
A Home Equity Conversion Mortgage (HECM), a popular government-backed reverse mortgage product, makes it easy to borrow against your collateral. But instead of making monthly payments to the lender, they will pay you. It’s designed for homeowners who are at least 62 years old and have a sizable amount of equity in their homes.
USDA loans are backed by the US Department of Agriculture and cater to home buyers looking to purchase in rural areas. These home products do not come with a down payment or private mortgage insurance (PMI) requirement. Plus, interest rates are generally competitive.
If you’ve served in the armed forces and have a credit score of at least 500, you may be eligible for a VA loan. You don’t need a down payment, and loan terms range from 10 to 30 years. You’ll also get a fixed interest rate and can access up to 90 percent of your home equity if you choose to refinance with this product. They allow you to access up to 90% even with a score down to 500.
What Other Services Does Top Flite Financial Provide?
There’s also a Step Forward Program that helps borrowers with FICO scores as low as 500 access cash-out refinance loans. This is an ideal program that allows borrowers with lower credit scores to improve their financial situation and, in return, improve their credit profile so they can qualify for even better mortgage terms. Many of Top Flite’s borrowers go through this transition and end up being A-paper borrowers the second time around.
Fees and Costs of Getting a Mortgage through Top Flite Financial
It varies by mortgage product. That said, the lender aims to make homeownership more affordable for all its borrowers.
Is Top Flite Financial a Legitimate Good Company?
Top Flite Financial is accredited by the Better Business Bureau with an A+ rating.
How to Get Started with Top Flite Financial
Inquire about a cash-out refinance or other loan product today by completing this brief questionnaire.