- 2 Corporate Center Drive, Suite 110 Melville, NY 11747
Loan Purpose / Purchase a Home
From pre-approval to closing, we provide expert advice at every stage, ensuring a smooth journey to owning your home.
Choose from a variety of loan programs tailored to your unique financial situation and homeownership goals.
Our team of experienced loan officers is committed to helping you navigate the complexities of buying a home with confidence.
Access a wealth of information and tools designed to empower you throughout the home buying process.
A conventional mortgage is a home loan offered by private lenders without government backing. It usually requires a higher credit score and larger down payment than government-backed loans, and can come with fixed or adjustable interest rates. These loans often have fewer restrictions and can offer lower interest rates for qualified borrowers.
An FHA loan is a government-backed mortgage insured by the Federal Housing Administration. It is designed for low-to-moderate-income borrowers, requiring a lower down payment and credit score compared to conventional loans. These loans offer more flexible qualifying criteria but may come with higher insurance premiums.
A VA loan is a mortgage backed by the Department of Veterans Affairs, available to eligible veterans, active-duty service members, and certain military spouses. It typically requires no down payment or private mortgage insurance and offers competitive interest rates. VA loans also have more flexible credit requirements.
A jumbo loan is a mortgage for an amount exceeding conforming loan limits set by Fannie Mae and Freddie Mac. These loans are used for expensive properties and typically require a higher credit score, larger down payment, and more stringent income and asset qualifications compared to conventional loans.
A USDA loan is a government-backed mortgage for rural and suburban homebuyers, insured by the U.S. Department of Agriculture. It typically requires no down payment and offers competitive interest rates. These loans are designed for low-to-moderate-income borrowers and have specific property location and income eligibility requirements.
A non-QM (non-qualified mortgage) loan is a type of mortgage that doesn't meet the standard lending criteria set by the Consumer Financial Protection Bureau (CFPB). These loans are designed for borrowers with unique financial situations, such as self-employed individuals or those with irregular income. Non-QM loans offer flexible terms and are not subject to the same strict guidelines as qualified mortgages.
A DSCR (Debt Service Coverage Ratio) loan is a mortgage designed for real estate investors, based on the property's cash flow rather than the borrower's personal income. It evaluates the property's ability to generate enough income to cover its debt obligations. These loans offer flexible qualification criteria and are ideal for investors with multiple properties.
A reverse mortgage is a loan for homeowners aged 62 and older, allowing them to convert home equity into cash without monthly mortgage payments. The loan is repaid when the borrower sells the home, moves out, or passes away. It provides financial flexibility for retirees but can reduce the home's equity over time.
A renovation loan is a mortgage that includes funds for home improvements and repairs. It allows borrowers to finance the purchase or refinance of a home along with the cost of renovations. These loans offer flexible terms and can be used for various types of home upgrades.
Direct lenders handle all aspects of the loan process in-house, resulting in quicker approval and closing times.
Work directly with loan officers who understand your financial situation and can tailor loan options to fit your needs.
Without intermediaries, direct lenders often offer lower interest rates and fees, saving you money over the life of your loan.
Direct lenders provide consistent, transparent communication, ensuring you are informed and confident throughout the entire loan process.
eCap Home Loans is a multi-state mortgage banker that believes in delivering a seamless, stress-free mortgage experience to all of our customers.
NMLS #1403
