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Mortgage Products

TrustLine Mortgage offers you the right financial products, our years of industry experience and a wide variety of loan programs designed to meet your specific mortgage lending needs.

Call: 904-381-LOAN (5626) or Toll free: 1-888-398-6220

TrustLine Mortgage Products:

VA Loans – (Veterans Administration)

Government insured long-term, fixed-rate and adjustable loans. These loans require no down payment and there is no monthly mortgage insurance required. VA loans are available to borrowers who have a valid “Certificate of Eligibility” from the Veterans Administration.

The VA loan was designed to offer long-term financing to eligible American veterans or their surviving spouses (provided they do not remarry). The basic intention of the VA direct home loan program is to supply home financing to eligible veterans in areas where private financing is not generally available and to help veterans purchase properties with no down payment. Term: 30 years – Maximum Amount: $647,200

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FHA Loans – (Federal Housing Administration)

Government insured/guaranteed long-term, fixed-rate and adjustable loans. An FHA insured loan is a Federal Housing Administration mortgage insurance backed mortgage loan which is provided by an FHA-approved lender.

FHA mortgage loans only require a 3.5% down payment. To obtain mortgage insurance from the Federal Housing Administration, a mortgage insurance premium (MIP) equal to 1.75 percent of the loan amount at closing is required, and is normally financed in the loan paid to FHA on the borrower’s behalf. There is a monthly premium as well.

Term: 30 years – Maximum Amount: $432,400

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Conventional Conforming Loans

Conforming long-term, fixed rate and adjustable loans that meet Fannie Mae and Freddie Mac loan limits and property and borrower guidelines. Conventional Conforming Loans generally have higher loan limits than FHA and VA loans.

Starting in 1970, Fannie Mae was authorized by the United States Government to purchase residential mortgage loans. Fannie Mae worked with Freddie Mac to develop uniform mortgage documents and national standards for what would come to be known as a conforming loan. Fannie Mae and Freddie Mac are continuously in the market for conforming loans; because of this, conforming loans benefit from greater liquidity than non-conforming loans.

Term: 30 years – Maximum Amount: $647,200

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Construction Perm Loans

A construction perm loan is a long-term permanent loan that modifies a construction loan used to finance a building project. However the closing occurs prior to the beginning of construction.

Construction loans are temporary. They are drawn upon during the construction process. There is no principal paid on a construction loan during the draw stage, as it is used entirely to construct a project. A construction loan must be refinanced at completion of the project. With a construction perm loan, nothing else has to be done at the end of construction except to “modify” the construction loan into a permanent loan by signing the modification package. This is because the loan was closed prior to the beginning of construction. A construction perm loan is a one time closing.

Term: 30 years – Maximum Amount: $647,200

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Jumbo Loans

For loan amounts that exceed the conforming maximum loan amount of $647,200. A Jumbo Mortgage is a mortgage loan in an amount above conventional conforming loan limits. This standard is set by the two government-sponsored enterprises Fannie Mae and Freddie Mac, and sets the limit on the maximum amount of any individual mortgage they will purchase from a lender.

Fannie Mae (FNMA) and Freddie Mac (FHLMC) are large government sponsered entities (GSE) that purchase the bulk of U.S. residential mortgages from banks and other lenders, allowing them to free up liquidity to lend more money. When FNMA and FHLMC limits don’t cover the full loan amount, the loan is referred to as a “Jumbo Mortgage”. The average interest rates on Jumbo Mortgages are typically higher than for conforming mortgages.

Term: 30 years – Maximum Amount: Above $647,200

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USDA Loans

Ideal for first-time buyers, these no down-payment mortgages help reduce the cost associated with obtaining a home loan.

A USDA loan (also called a Rural Development Loan) is a government insured home loan that allows you to purchase a home with NO Money Down. USDA Loans offer 100% financing to qualified buyers, and allow for all closing costs to be either paid for by the seller or financed into the loan. USDA offers some of the lowest rates of any loan, and you will always have a fixed interest rate.

Term: 30 years – Maximum Amount: Determined by several factors

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Portfolio Loans

A portfolio loan is simply a loan that is made by a lender that does NOT get sold on the secondary market i.e. Fannie Mae and Freddie Mac.

Typically, Portfolio Loans are issued to those clients considered to be a good credit risk thereby lowering the amount of risk in the portfolio. These loans are usually kept on the lenders balance sheet.

Term: 30 years – Maximum Amount: $3,000,000

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Call us at 904-381-LOAN (5626) or Toll free: 1-888-398-6220
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NMLS Consumer Access

6101 Gazebo Park Place North, Suite 108
Jacksonville, FL 32257
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