Log In  |  Contact Us  |  Help
Available Loan Programs

At Waterstone Mortgage, we provide clarity and guidance throughout the loan process. We offer a full suite of lending products because we recognize the importance of having the right loan program for every situation.

Click on each loan program name to learn more.

Not sure which program is best for you? Contact us to get started today!

Conventional Loans (Fixed- and Adjustable Rate Mortgages)

At Waterstone Mortgage, we offer a variety of Conventional Loan programs to meet your needs. Let us help you achieve your dreams of home ownership with a purchase or refinance. 

  • Choose the program that's right for you
  • Fast, local service
  • Quick turnaround times
  • Competitive rates

 

Debt Consolidation

If you're looking to consolidate your debt as you purchase or refinance your home, we offer a variety of mortgage loan programs to meet your needs. Contact us today to learn more about debt consolidation! 

top

 

Path 2 Buy

What is Path2Buy?

Path2Buy is a blueprint - a solid, proven system to get you on the road to meeting your home buying goals. It works for renters looking to buy their own home or for current owners looking to move up, buy an investment property, or refinance their current property.

The Path2Buy coaches at Waterstone Mortgage Corporation are experts in today’s mortgage lending environment. They know how to navigate the programs and guidelines and will help you every step of the way. The Path2Buy program succeeds because we understand you’re surrounded by concerns, questions and fears. We help you deal with them with a plan designed especially for you.

But the blueprint is not the end of it. We’ll keep in regular contact with you to make sure you’re still on the right track. Together we’ll get you on the Path2Buy.

HERE’S HOW WE’LL HELP

Credit scores.

Your current rating isn’t quite as high as it needs to be to qualify for a mortgage.

Your coach advises you and gives you access to the tools necessary to improve your credit scores, while checking in every 45 days to keep you on track.

Down payment.

You don’t have the necessary down payment just yet. In an online, debit card world, it’s easy to spend money you can’t see.

Your Path2Buy coach understands the “real” numbers required for a down payment (for example, 3.5% for FHA loans) and can show you what to do to get there. Your coach will help you stay on the path with regular check-ups.

Job insecurity.

You’re afraid to commit to a mortgage because your current job doesn’t feel secure.

Your Path2Buy coach keeps in touch to check on changes in your job outlook. Together, you’ll be ready to make the move when you feel the time is right.

Debt-to-income ratios.

You have too much debt to qualify for a mortgage right now.

Well-versed in debt management, your coach can share valuable tips and insight creating a debt paydown plan that will keep you on the Path2Buy.

Debt-to-income comfort zone.

Your debt‑to‑income ratio may be acceptable to others but not for your comfort levels. You have other obligations like tuition, or helping out a family member, that don’t show up on your credit report but get paid out of your checkbook.

Once you share your financial position with your Path2Buy coach, you’ll receive solid advice on getting yourself to a point where you feel more comfortable with your debt.

Misinformation.

Anyone can post a blog, publish a website, or create a YouTube video. Many people believe false reports about credit qualification, down payments and other issues related to home buying.

Your Path2Buy coach will give you accurate and reliable information on down payment, credit score minimums, and other home buying issues, and will keep you up to date with all guidelines in the ever-changing mortgage industry.

Mobility.
You are concerned that your job may transfer you, or a new job would require you to relocate, and are worried about how quickly you can sell the house you just bought.

Your Path2Buy coach will update you on the average selling time in your specific market. Your coach will also be connected to the right individuals who can provide advice if renting out your home becomes an alternative.

WHERE DO I START?

Are you ready to get on the Path2Buy? Request a free consultation to get started today!

top

 

FHA 203(k) Streamline Loans

FHA 203(k) Streamline loans are an affordable financial tool you can use to buy AND fix up your home. With a 203(k) Streamline Loan, you may be able to purchase a property and bundle the cost of repairs, upgrades and other improvements all into one FHA loan.

  • Low down payments
  • Some fees may be financed
  • One loan with one closing
  • Mortgage amount based on after-improved value
An FHA 203(k) Streamline Loan is a government-sponsored loan subject to certain qualifications and restrictions. A 203(k) Specialist will provide you with additional information to help you determine if you qualify.

top

 

FHA Loans

FHA loans are designed to help first-time homebuyers and seasoned homeowners by providing them with a low down payment option. Plus, it’s now easier than ever to qualify!

  • Down payments as low as 3.5%
  • Your loan is guaranteed by the government
  • Less than perfect credit can apply
  • Energy-efficient mortgages, reverse mortgages, refinances, and renovation loans also available
An FHA Loan is a government-sponsored loan subject to certain qualifications and restrictions. A Mortgage Loan Specialist will provide you with additional information to help you determine if you qualify.

 

top

 FHA Streamline Refinances

Let Waterstone Mortgage help make home ownership more affordable with an FHA Streamline refinance loan. FHA Streamline refinances are designed for people who already have FHA mortgages and want to lower their monthly payments.

  • Lower your monthly payments - permanently
  • Home re-appraisal not required to refinance
  • Decreased mortgage insurance premiums for FHA loans endorsed on or before May 31, 2009
An FHA Streamline Refinance is a government-sponsored loan subject to certain qualifications and restrictions. A Mortgage Loan Specialist will provide you with additional information to help you determine if you qualify.

 

 top

First-Time Home Buyer Programs

If you're a first-time homebuyer, we’ll give you the expert advice you need to help you make your home ownership dreams come true. With new programs and options, it’s easier than you think.

  • Build equity
  • Tax benefits
  • No surprise rent hikes
  • Decorate and landscape the way you want

top

 

Home Affordable Refinancing Program (HARP)

If you're not behind on your mortgage payments but have been unable to get traditional refinancing because the value of your home has declined, you may be eligible to refinance with the Home Affordable Refinance Program (HARP).  

  • No limit on maximum loan to value for most mortgages
  • Mortgage insurance not required in most cases
  • Reduction or elimination of some fees

top

 

Interest-Only Loans

At Waterstone Mortgage, we offer a variety of mortgage loan programs to meet your needs, including interest-only options. Contact us today to learn more about interest-only loans! 

top

 

Investment Property Financing

If you’re a real estate investor, we can help you take advantage of opportunities in today’s market with financing for properties that have 2-4 units. With our low interest rates and lending fees, we’ll ensure that you’re maximizing your potential profit.

  • Finance up to 85% loan to value for a single family dwelling
  • Finance up to 75% loan to value for up to 4 units
  • A variety of loan programs available to meet your needs

top

  

Jumbo Loans 

Jumbo loans make it easier than ever for borrowers who dream big to own big. Let us help you achieve your dreams with reasonable terms and low rates. 

  • Financing options up to $2 million
  • Interest-only option available for some ARMs
top

 

Loans for “Less Than Perfect” Credit

We offer a variety of mortgage loan programs to meet your needs, including programs for people with "less than perfect" credit.

top

 

Mortgage Planning

Make the jump to home ownership! We've created a Path2Buy program to get you on the road to meeting your home buying goals. It works for renters looking to buy their own home, or current owners looking to move up, buy an investment property, or refinance their current property. Contact us today to get on the Path 2Buy! 

Path2Buy coaches may provide financial guidance, but this in no way constitutes legal advice or credit counseling. The Path2Buy system is not an application for credit. If at any time you wish to proceed to an application for credit, you must complete an application in accordance with regular Waterstone Mortage procedures.

top

 

New Home Purchases

Are you ready to buy a new home? We offer a variety of home loan programs to meet your needs. From conventional loans to government loans to specialty products, we'll help you find the program that's right for you. 

  • Choose the program that's right for you
  • Fast, local service
  • Quick turnaround times
  • Competitive rates

top

  

Purchasing after Bankruptcy, Foreclosure or Short Sale

A bankruptcy, foreclosure, or short sale doesn’t mean that you’ll never be able to own a home again. We offer a Path2Buy program to work with you on your credit and finances so that when the required "waiting period" has passed, you'll be ready to buy a new home. Contact us to get started today!

top

 

 Refinances

Mortgage interest rates are at historic lows, making now the perfect time to look into refinancing your home with Waterstone Mortgage.

  • Increase your savings or cash flow
  • Shorten the length of your mortgage
  • Consolidate your first and second mortgage
  • Use your equity for extra cash

top

 

USDA / Rural Development Loans

USDA loans are designed to encourage rural land development and growth in rural areas. They were long thought of as “Farmers Loans”, but eligibility has recently been loosened, giving many people looking to purchase or refinance in a rural area access to the incredible benefits offered by these loans.

  • 100% financing option available
  • Great rates and down payment options
  • Better terms than a FHA or conventional loan
  • Flexible credit guidelines mean less than perfect credit may still qualify
A USDA Loan is a government-sponsored loan subject to certain qualifications and restrictions. A Mortgage Loan Specialist will provide you with additional information to help you determine if you qualify.

top

 

VA Loans

Insured by the Veteran Affairs Department, VA Loans allow eligible veterans to realize their home buying dreams, and help existing VA homeowners with money-saving refinance options.

  • 100% financing options available
  • No private mortage insurance requirements
  • No prepayment penalty
  • Less than perfect credit can apply
A VA Loan is a government-sponsored loan subject to certain qualifications and restrictions. A Mortgage Loan Specialist will provide you with additional information to help you determine if you qualify.

top

 

Wealth Building Loan

What Is the Wealth Building Loan?

Designed as an equity-creating mortgage option, the Wealth Building Loan requires no down payment and offers offers eligible borrowers a 7-1 Adjustable Rate Mortgage with a 20-year amortization.

Wealth Building Loan Benefits The Wealth Building Loan eliminates monthly mortgage insurance payments nearly four years sooner than a 30-year conventional loan with a 3 percent down payment. Overall, this loan option helps homebuyers build equity quickly by applying more of their payment to principal and less to interest each month.

  • Occupancy: Primary residence, owner occupied
  • Property type: 1-unit residences, condominiums
  • Maximum loan amount: $650,000 (except in certain FHFA High Cost Areas)
  • Loan type: 7-1 Adjustable Rate Mortgage with a 20-year amortization
With adjustable rate mortgages, the interest rate is variable and may increase or decrease every year after the initial fixed rate period based on changes to an index. This could result in an increase in the monthly payment. All loan requests are subject to credit approval as well as specific program requirements and guidelines.

 

top

 

HomeReadyLoan Program

 Designed to make home loan financing more accessible, the HomeReady™ program provides eligible homebuyers with a variety of benefits:

  • Low Down Payment Options. Up to 97% of your mortgage can be financed.
  • No Minimum Borrower Contributions. This allows you to use grants, monetary gifts, and more for your down payment and closing funds.
  • No First-Time Homebuyer Requirement. Even if you’ve owned a home in the past, you may still qualify.
  • Income Limits. No limits for properties in low income census tracts, 100% of average media income (AMI) in high minority census tracts and 80% of AMI in all other properties.
  • Non-borrower household income. This may help you qualify.
All loan requests are subject to credit approval as well as specific program requirements and guidelines.

top

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Contact Information
Jordan Leonhard
Loan Originator NMLS: #1088204
Direct: (877) 384-3838
Email: Send Email
Copyright © 2017 Waterstone Mortgage Corporation (NMLS #186434) is a wholly owned subsidiary of WaterStone Bank SSB (NASDAQ: WSBF)
Privacy Policy  | Security Statement  |  Site Map