Loan Types We Offer

CONVENTIONAL

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  • Minimum 3% down payment
  • Minimum 620 credit score
  • Down payment may be gifted
  • Only 1 year’s tax returns for self-employed borrower
  • Non-occupying co-borrower allowed
  • PMI may be dropped after 20% equity is gained
  • Subordinate financing allowed
  • Max loan amount is $417,000
  • Primary, second home & investment allowed

FHA

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  • Minimum 3.5% down payment
  • Minimum 620 credit score
  • Down payment may be gifted
  • More lenient credit and underwriting guidelines than conventional loan
  • Non-occupying co-borrower allowed
  • Monthly PMI typically higher than conventional
  • PMI is for life of loan
  • Max loan amount is $271,050
  • Primary residence only

USDA RURAL DEVELOPMENT

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  • 100% financing
  • No credit score allowed but stricter underwriting guidelines apply
  • Lower monthly PMI than conventional or FHA
  • PMI is for the life of the loan
  • Household income limits apply
  • Home must be located in RD eligible area
  • Primary residence only  No max loan amount

VA

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  • 100% financing
  • Minimum 620 credit score
  • No monthly PMI
  • More lenient credit and underwriting guidelines than conventional loan
  • Must be qualifying veteran
  • Max loan amount is $417,000 (Jumbo loan program available with down payment)
  • Primary residence only

Locations

Main Office

NMLS # 1018326

104 Albertson Pkwy, 

Broussard, LA 70518 

Office: 337 534 0725

eFax: 337 205 2822

Texas Office

NMLS # 1420505

9800 Hillwood Pkwy Ste#140  

Fort Worth, TX 76177  

Office: 972 733 6800   

eFax: 337 205 282

Lake Charles Office

NMLS # 1708364  

940 Ryan St #3f, 

Lake Charles, LA 70601 

Office: 337  496 6450 

eFax: 337 205 2822

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 Preferred Lending Solutions / Mitesh Koirala is not acting on behalf of or at the direction of HUD/FHA or the Federal Government