Loan Products – Lisa DiBernardo – Sr. Loan Officer – Vermont Mortgage Group LLC, NMLS #2551442

There's a lot to know but don't worry, here's a good place to start!

I’m very happy to explain everything to you—that’s part of what I do. If you want to get up to speed with some terminology, here are some common ideas.

Land Loans:

purchasing or refinancing land? We have you covered with a land loan program to purchase or refinance open land, or for land development (land you are planning on building on).
This 15 year term is a fixed-rate loan and down payments range from 25% - 35%.

Bank Statement Loan (Alt Income):

perfect for the self-employed or 1099 borrower for purchase or refinance of 1-4 unit primary residence, or investment property and 1 unit second home. Loans from $100,000 to $2 million.
12 - 24 months of bank statements are provided to the Lender where Underwriting reviews and determines the qualifying business deposits that will be utilized to calculate income.

DSCR (Debt Service Coverage Ratio) Loan:

for 1-4 unit Investment Property this loan does not require income verification. Instead the Lender calculates the rental income and monthly housing costs to qualify. Underwriters consider a number of factors to determine qualification including usage of funds, credit score of borrowers, number of units, gross rents and other.

Choice Reno Express Loan:

for a Purchase or No-Cash-out Refinance of a 1-4 unit conventional loan for Primary Residences, 1 unit second home or 1 unit investment property to finance renovation costs.

Fixed Rate Mortgage:

is a fully amortizing mortgage loan where the interest rate and payment remain the same through the life of the loan. Terms from 15-30 years.

Adjustable Rate Mortgage: (ARM)

this type of home loan features an interest rate that changes after a fixed amount of time.

Jumbo Loan:

from over $750,000.00 and higher in some areas, our Jumbo lenders provide competitive terms and down payment as low as 10%

FHA Loan:

make your home ownership dreams come true with an FHA loan. Featuring flexible credit restrictions and down payment options as low as 3.5%, an FHA loan is a popular type of loan for first-time home buyers.

FHA 203K Renovation Loan:

FHA 203K Renovation Loan: You want to buy a fixer-upper? No problem! With FHA's 203k renovation home loan you have that option.

VA home loan:

enjoy exclusive military benefits with a VA loan. If you are a veteran or an active-duty service member, a VA loan offers less restrictive credit guidelines and NO down payment.

Conventional 3% Down:

Home Ready & Home Possible programs for 1st time Buyers offer lower rates.