Paramount Mortgage Company
Finding the perfect home loan has never been easier!

Paramount Mortgage Company

Paramount Mortgage Company offers a variety of loan programs to meet your specific needs. We work with the leading lenders in the industry to provide some of the following options.

CONVENTIONAL

Conventional loans are the most popular loans in the U.S. They typically require 5-20% down, a 620 credit score or higher, and a debt-to-income ratio of 45%. These loans are underwritten and sold to Fannie Mae or Freddie Mac. Loan amounts go up to $417,000 across the country and up to $625,500 in high cost areas. Conventional loans typically offer the lowest rates and best terms available in the market, as long as a borrower can meet the guidelines.

GOVERNMENT LOANS

FHA and VA are the two largest types of mortgage loans that are backed by the federal government. An FHA loan is a federally insured home loan designed for people with lower down payments and/or lower credit scores. They are the second most popular loan in the U.S. behind conventional conforming loans.

A VA loan is a loan established by the Department of Veterans Affairs that provides eligible veterans with available entitlement to obtain financing for a home. VA loans don't require a down payment and there is no monthly mortgage insurance.

JUMBO LOANS

Jumbo Loans are simply loans that are too large to be considered purchasable by Fannie Mae or Freddie Mac. They typically require 20% down and the interest rates are usually higher than comparable non-jumbo loans.

USDA LOANS

Also known as the Guaranteed Rural Housing program is another government insured loan that provides rural residents, that have low to moderate income, with 100% financing to obtain a home. Properties must be located outside the city limits.

If you are considering purchasing a new home or refinancing an existing home, a great place to start is with a free, no-obligation consultation. We will be able to tell you in a few minutes which choices might be best for you. We can also quickly pre-approve you free of charge which allows you an upper hand when going to make an offer on a home. To schedule your consultation, call us today.
 



Unless otherwise indicated, these APR calculations are based on the following: Conforming loans (whose maximum loan amount is below $424,100 for the contiguous states, District of Columbia, and Puerto Rico or below $636,150 for Alaska, Guam, Hawaii and the Virgin Islands) are calculated based on a loan amount of $417,000 with closing costs of $8,340. Jumbo Loans (whose maximum loan amount exceed $424,100 for the contiguous states, District of Columbia, and Puerto Rico or exceed $636,150 for Alaska, Guam, Hawaii and the Virgin Islands) are calculated based on a loan amount of $1,000,000 with closing costs of $20,000. Your actual APR may be different depending upon these factors.