The Loan Store™ Lending Products Loan Programs

Conventional Loans

At The Loan Store, we offer Fixed Rate and Adjustable-Rate Conventional mortgages for conforming and high balance loans, VA IRRRL loans, Jumbo, and DSCR loans. Please refer to the Conforming Guidelines available in the Documents tab at the top of the TPO Portal for more information.

Loan Details

First Time Home Buyer Details

2/1 Buydown Details

Jumbo Loans

TLS offers fixed-rate and ARM mortgages for jumbo loans. Please see below for the following loan characteristics that will qualify for the jumbo loan program.

For a jumbo loan, the minimum loan amount is $726,200 for 1-unit properties and $1 above the conforming loan limits for properties with 2-4 units. All loans must be eligible for sale to applicable investors (identified with E1, E2, E5, E10) and comply with the guidelines. Please refer to the Jumbo Guidelines available in the Documents tab at the top of the TPO Portal for more information.

Loan Details

VA Loans

The Veterans Administration loan program enables Veterans and active-duty personnel to purchase or refinance a home with favorable loan terms. The VA loan program is a benefit program provided to veterans. VA offers fixed rate mortgages that can accommodate no down-payment on many purchase transactions.

The VA Interest Rate Reduction Refinance (IRRRL) program is designed to allow the refinance of an existing VA guaranteed loan in order to obtain a lower interest rate or convert a VA ARM to a fixed-rate without impacting the amount of home loan benefit (entitlement) the veteran has in use. VA loan entitlement is the dollar amount the Department of Veterans Affairs will guarantee on each VA home loan.

VA loans must conform to GNMA secondary market guidelines which include the minimum 25% coverage requirement. Coverage is a combination of VA provided entitlement plus cash down payment/equity.

Loan Details

DSCR (Debt Service Coverage Ratio)

This product will allow borrowers to qualify for investment properties based on the monthly rental income of the subject property & credit history rather than their current income. The DSCR product is intended for experienced investors. An experienced investor is a borrower who must have a history of owning and managing commercial or residential real estate for at least 12 months in the last 3 years.

DSCR Loan Details

Bank Statement Loans

A Bank Statement Loan is a Non-QM Loan. Being self-employed makes it difficult for borrowers to have the luxury of being able to report net income or present pay stubs when applying for a home loan. Even if they have good credit, it may be challenging to get approved for the loan.

Bank Statement Loan Details