At Lumeo Mortgage, we know there’s no one-size-fits-all solution — because every client’s story, goals, and financial path are different. Whether you’re buying your first home, self-employed, investing, or renovating, we’re here to break down the options clearly and help you understand what actually fits your life
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The most common type of loan option, the traditional fixed-rate mortgage includes monthly principal and interest payments which never change during the loan's lifetime.
Adjustable-rate mortgages include interest payments which shift during the loan's term, depending on current market conditions. Typically, these loans carry a fixed-i...
Interest only mortgages are home loans in which borrowers make monthly payments solely toward the interest accruing on the loan, rather than the principle, for a specif...
Graduated Payment Mortgages are loans in which mortgage payments increase annually for a predetermined period of time (e.g. five or ten years) and...
A conventional loan is a type of loan that is not insured by the government. Conventional loans offer more flexibility and fewer restrictions for borrowers, especially those borrowers with good credit and steady income.
FHA home loans are mortgages which are insured by the Federal Housing Administration (FHA), allowing borrowers to get low mortgage rates with a minimal down payment.
VA loans are mortgages guaranteed by the Department of Veteran Affairs. These loans offer military veterans exceptional benefits, including low interest rates and no ...
A jumbo loan is a mortgage used to finance properties that are too expensive for a conventional conforming loan. The maximum amount for a conforming loan is $766,550 in...
A DSCR loan, or Debt Service Coverage Ratio loan, is a mortgage designed for real estate investors, where approval is based on the property's rental income rather than the borrower's personal income.
Non-QM loans, or Non-Qualified Mortgage loans, are flexible mortgage options for self-employed borrowers who may not meet traditional income documentation standards but can show their ability to repay through alternative methods like bank statements or asset verification.