Programs
Check out our mortgage programs and offerings.
We'll help you navigate your best options.
Program Details
VA Loan
By a Veteran, for Veterans.PGM is owned and operated by a U.S. Army, 82nd Airborne Veteran.
contact us today
By a Veteran, for Veterans.
PGM is owned and operated by a U.S. Army, 82nd Airborne Veteran.
Who is this loan for?
This loan is for Service-members, Veterans, and eligible surviving spouses interested in becoming homeowners or refinancing their existing mortgage. VA guarantees a portion of the loan, enabling us to provide you with more flexible terms to help you buy, build, repair, retain, or adapt a home for your own personal occupancy.
Features
- We would like to thank you for your service and we proudly serve you with the best available loan options.
- Purchase or Refinance at 100% of the homes value.
- For those who qualify, purchase a home with $0 down
Who is this loan for?
This loan is for seniors aged 62 years and older, who have equity in their homes and are searching for alternate retirement funds.
The future of Retirement is changing. Your home is nothing more than a retirement fund/savings account and can be used in the same manner for those who qualify.
This is the future 4th Leg in Retirement Planning.
Features
- FHA Insured
- Easy Qualifications
- Eliminate Mortgage Payments forever
- New safety/security updates for the homeowner to the program
Conventional Loan
contact us today
Who is this loan for?
This loan is for future homeowners with decent credit. Currently, it is the most popular and most utilized loan mortgage program. A type of mortgage that is not part of a specific government program.
Features
- Multiple Terms: 10, 15, 20, and 30 year mortgages available
- Fixed & Adjustable rates: Options for both fixed rates and adjustable rate mortgages
- Fast home loan processing
- Reduce or Avoid Mortgage Insurance Premium (all situations vary; less than 20% dp still requires MI)
Who is this loan for?
This loan is for future homeowners planning to purchase a home in a rural area. Designed to “improve the economy and quality of life in rural America.” It offers low interest rates and a zero down payment mortgage for eligible rural and suburban homebuyers.
Features
- Guaranteed by USDA
- Potential for $0 down payment
- Must meet household income guidelines and home must be purchased/located in eligible rural areas as defined by USDA
- Metropolitan areas are generally excluded from USDA programs, but pockets of opportunity can exist in suburbs. Rural locations are always eligible.
Who is this loan for?
This loan is for future homeowners who need low down payments. Home Ready and Home Possible are the reestablished low-down payment programs from Fannie Mae and Freddie Mac
Features
- Lower Required Down Payment: for qualified homebuyers, less money down is required compared to conventional mortgage programs
- Potential for Greater Purchasing Power: since less is required for a down payment, homebuyers may be able to afford a larger home than they previously did not qualify
- PMI: Best PMI in nation!
- Home-Buyer Counseling Required: at least one of the homebuyers is required to attend a home-buyer education course to utilize the program
Who is this loan for?
This loan is a popular choice for a first-time homebuyer as well as those who want to make a lower down payment and/or have less than perfect credit.
Features
- Down Payment available as low as 3.5%
- Gift Funds Allowed: a family member or friend can help finance your dream of becoming of homeowner
- Government Insured Mortgage
Who is this loan for?
This loan is for future homeowners planning to buy a fixer upper. This program combines your construction loan and your mortgage into a single home loan which saves you money in closing costs and simplifies the home renovation process.
Features
- Backed by the Federal Housing Administration (FHA). The 203k loan combines the traditional “home improvement” loan with a standard FHA mortgage, with loan amounts of up to $625,500
- Save money if you plan to renovate. Combine your renovation loan and your mortgage into a single home loan, which limits your loan closing costs.
- Available to both buyers and refinancing households
- A streamlined 203k loan is for less extensive projects and costs are limited to $35,000. Traditional 203k loans do not have a construction loan size limit.
Who is this loan for?
Future homeowners who are planning to move or refinance within 3-7 years. With an Adjustable Rate Mortgage, the interest rate fluctuates according to the interest rates in the economy. Initial interests rates of ARMs are typically offered at a discounted rate that’s lower than the rate for a Fixed Rate Mortgage. Overtime, when initial discounts are filtered out, ARM rates will fluctuate as general interest rates go up and down.
Features
- Significantly Reduces the Cost of a Mortgage: for a fixed period of time, you save on interest costs and pay more towards your principal
- Lower Rates, Flexible Terms: Lenders can give you a discounted rate up front because the rate will float with the market later on
- Expecting Mortgage Rates to Decline: If you expect mortgage rates to decline, ARMs can work towards your advantage
- Plan to Move or Refinance within 3-7 years: After your initial period, your interest rate will be adjusted based on the type of program you choose
Who is this loan for?
This loan is for current homeowners who are interested in refinancing their existing mortgage but have little equity in the home. Created in 2009 by the Federal Housing Finance Agency specifically to help homeowners who are current on their mortgage payments, but have little to no equity in their homes, refinance their mortgage.
Features
- Allow those with a loan-to-value ratio exceeding 80% to refinance without also paying for mortgage insurance. Originally, only those with an LTV of 105% could qualify.
- Easier to qualify than ever before
- Millions qualify: over 2.5 million have already taken advantage of the program
- In-house HARP Experts
Who is this loan for?
This loan is for future homeowners who are purchasing bigger homes to take advantage of today’s low rates. If you are able to afford a more expensive home but haven’t saved up enough money to bring the loan down to conforming limits, or you’ve found the perfect home but it happens to be in a higher priced neighborhood, this mortgage program is made for you!
Features
- Mortgages range from $424,101- $3 million
- Streamlines Loan options. A Jumbo loan will eliminate having to obtain multiple loans providing the convenience of one loan for the entire loan amount, with a variety of options
Fixed Rate Mortgage
contact us today
Who is this loan for?
This loan is for future homeowners with decent credit who are looking for a consistent interest rate. A mortgage option for which the interest rate is fixed for the life of the loan. The monthly payment on a fixed-rate loan is inversely proportionate to its term – the more years in a loan, the lower the monthly payment.
Features
- Multiple Terms: 10, 15, 20, and 30 year mortgages available
- Fast home loan processing
- Reduce or Avoid Mortgage Insurance Premium (all situations vary; less than 20% dp still requires MI)
CONTACT US
contact us today
Footer Form
110 S. Oak Ave, Suite 100
Bartlett, IL 60103
630.908.5309
pamela@preferredgroupmcs.com
MB#: 6759973 | NMLS#: 279644 | Branch #: 1758228
Created by Olive + Ash.
Managed by Olive Street Design. 