Local mortgage guidance from application to closing.
Your Home. Your Future. Your Local Lancaster County Lender.
Whether you're buying your first home, moving into your next home, or refinancing, LincOne is here to help.
LOCAL MORTGAGE EXPERTISE
Alyssa McManus - Mortgage Loan Officer
NMLS #2406755
402-417-7691 ext. 691
Cell Phone - 402-540-4489
Buying a home is one of the biggest financial decisions you'll make.
Local Nebraska lender
Conventional, FHA & VA Loans
First-Time homebuyer guidance
NIFA-approved lending partner
Personalized mortgage guidance
Which Home Loan Is Right For Me?
Different mortgage programs are designed for different homebuyers. Learn more about your options.
Conventional
A conventional mortgage loan is a home loan that is not insured or guaranteed by a government program such as FHA or VA. Conventional loans are a popular option for homebuyers with good credit and can offer competitive terms and flexible down payment options.
A conventional loan may be a good fit if you:
- Have established credit and a strong financial profile
- Can make a larger down payment
- Plan to stay in your home for several years
- Want the potential to eliminate private mortgage insurance (PMI) as you build equity
Down Payment: Conventional loans may be available with as little as 3% down for qualifying borrowers. LincOne's required down payment depends on factors such as income, property type, and whether the home will be a primary residence or investment property.
Private Mortgage Insurance (PMI): Private mortgage insurance is typically required if you put less than 20% down towards your home purchase. PMI protects the lender and adds to the cost of the loan. Under applicable rules, PMI may be removable once you have sufficient equity in your home.
Why consider a conventional loan?
- Flexible down payment options
- May be a good choice for borrowers with stronger credit
- PMI may eventually be removed as you build equity in your home
- Can be a good option for buyers planning to own their home for the long term
For First-Time Homebuyers: A conventional loan may make sense if you plan to stay in your home for several years and can make a larger down payment. However, the best option depends on your financial situation and goals. Our Mortgage Loan Officer will meet with you to discuss personalized options based on your goals and financial situation.
Ask a LincOne Mortgage Loan Expert: How does a conventional mortgage compare with FHA based on my credit, down payment, and how long I plan to own the home?
FHA
An FHA loan is a mortgage insured by the Federal Housing Administration and can be a good option for homebuyers who want a lower down pyament or may have less-established credit history.
An FHA loan may be a good fit if you:
- Are a first-time homebuyer
- Want to make a lower down payment
- Have a credit history that makes qualifying for a conventional loan more difficult
- Are purchasing a starter home or another home that fits requirements
Down Payment: FHA loans can require as little as 3.5% down for qualifying borrowers.
Mortgage Insurance: FHA loans require mortgage insurance. This generally includes an upfront mortgage premium and an ongoing mortgage insurance premium that can be part of your monthly payment.
Why consider an FHA loan?
- Low down payment option
- Flexible credit requirements compared with many conventional loans
- Can be a helpful option for first-time homebuyers
- May allow you to purchase a home without saving a large down payment
For first-time homebuyers: An FHA loan may be worth considering when a lower down payment matters or when your credit profile makes a conventional loan less attractive. LincOne can help you compare FHA and conventional options based on your individual situation.
Ask a LincOne Mortgage Loan Expert: Would an FHA loan or conventional loan give me the overall option based on my credit, down payment, and homeownership plans?
VA
A VA mortgage is a home loan backed by the U.S. Department of Veterans Affairs and is designed to help eligible Veterans, active-duty service members, and certain surviving spouses purchase a home.
A VA loan may be a good fit if you:
- Are an eligible Veteran, active-duty service member, or qualifying surviving spouse
- Meet VA and lender eligibility requirements
- Plan to live in the home you purchase
- Want the option to purchase a home with little or no down payment
Down Payment: A VA-backed purchase loan can offer a 0% down payment option for eligible borrowers when the sales price does not exceed the home's appraised value and other requirements are met. LincOne currently ofers VA mortgages as its only mortgage program that does not require a down payment.
Private Mortgage Insurance: VA-backed loans do not require monthly private mortgage insurance (PMI).
VA Funding Fee: Some borrowers may be required to pay a one-time VA funding fee. Talk to our mortgage loan expert to learn more.
Why Consider a VA Loan?
- Potential 0% down payment
- No monthly PMI
- May offer competitive loan terms for eligible borrowers
- Can be used by eligible borrowers who are purchasing their first home or a subsequent home
- VA benefits may be reusable when eligibility and entitlement requirements are met
Who is eligible for a VA mortgage? Eligibility is based on VA requirements, including service history or other qualifying circumstances. Borrowers must also meet LincOne's credit, income, and otehr lending requirements.
Ask a LincOne Mortgage Loan Expert: Am I eligible for a VA mortgage, and how could a VA loan compare with my other mortgage options?
Not sure which mortgage loan is right for you?
Click Here to Schedule a Free Mortgage Loan Consultation
UNDERSTANDING THE MORTGAGE PROCESS
Types of Home Loans Offered by LINCONE
At LINCONE, we offer three categories of home loans: conventional, VA, and FHA. Each of these loan types has different requirements and benefits, so it’s important to speak with a loan officer to determine which is best for your individual situation. We are also a NIFA approved lending partner, meaning that we are able to help Nebraskans achieve homeownership with competitive rates, down payment, closing cost assistance, homebuyer education resources and more. Our loan officer will guide you through what each of these different types of home loans are and how they can benefit you whether you are a first time home buyer, investor, or just making a move.
How to Qualify for a Mortgage Loan With LINCONE
For pre-qualification, we don’t legally require any documentation. We use the information entered in the application and the credit report received to determine credit score, payment
history, cash to close, and debt-to-income ratio.
How Long Does it Take to Get a Mortgage Approved With LINCONE?
The time it takes to get approved for a mortgage with LINCONE varies depending on the individual’s scenario. Generally, it takes about 30 days from the time of receiving an accepted contract to close. However, it can take as quickly as 14 days or up to 60 days in extreme cases where repairs are needed prior to closing.
Do You Need a Down Payment to Get Pre-Approved with LINCONE?
The only program that is offered with LINCONE that does not require a down payment is the VA mortgage loan. Down payment ranges anywhere from 3% to 20% depending on factors such as income, property type, and whether it will be a primary residence or investment property. The down payment isn’t required at the time of pre-qualification, but rather when the loan itself
closes.
Loans for First-Time Homebuyers
There's not one specific loan that fits every first-time home buyer. It depends on the individual's situation and goals for the home they're buying. If it's a starter home that the borrower knows they will likely be moving out of within the next four or five years, an FHA loan is recommended because of its lower interest rate. If it's a longer-term home and the borrower can put down a larger down payment, a conventional loan is suggested because private mortgage insurance will fall off at some point during the loan. These details aren't asked on the application but are discovered after the qualification determination and digging deeper into the borrower's experience, credit history, and goals for the property.
Understanding the different types of home loans and the qualifications needed to obtain them is crucial for anyone looking to buy a home. By working with LINCONE, you can get the personalized guidance and support needed to navigate the home-buying process with confidence.
There's not one specific loan that fits every first-time home buyer. It depends on the individual's situation and goals for the home they're buying. If it's a starter home that the borrower knows they will likely be moving out of within the next four or five years, an FHA loan is recommended because of its lower interest rate. If it's a longer-term home and the borrower can put down a larger down payment, a conventional loan is suggested because private mortgage insurance will fall off at some point during the loan. These details aren't asked on the application but are discovered after the qualification determination and digging deeper into the borrower's experience, credit history, and goals for the property.
Understanding the different types of home loans and the qualifications needed to obtain them is crucial for anyone looking to buy a home. By working with LINCONE, you can get the personalized guidance and support needed to navigate the home-buying process with confidence.
HOME BUYING QUESTIONS, ANSWERED
Still searching for answers? Visit our Frequently Asked Questions page for more.
Click here to visit our Frequently Asked Questions Page
Ready to Get Started?
One of the most important financial decisions you will make is buying a home. Whether you're buying your first home, moving into your next home or exploring your mortgage options, LincOne is here to help you through every step. Your mortgage rates are determined by many economic factors and tend to change frequently. If you are ready to apply, contact us here by email, call 402.441.3555, stop by one of our three locations, or complete an Online Mortgage Application today. Please be aware that we are only able to originate loans on properties located in the state of Nebraska.
Due to a continually changing market and ever changing rates, please contact us for current rates on the following product offerings, conventional, VA and FHA.
Consumer Financial Protection Bureau: Your Home Loan Toolkit
CFPB Multilingual Resource Home Page: https://www.consumerfinance.gov/language/
Arabic Resource: https://www.consumerfinance.gov/language/ar/
Spanish Resource: https://www.consumerfinance.gov/es
Vietnamese Resource: https://www.consumerfinance.gov/language/vi/
HUD Approved Housing Counseling Agencies for Nebraska
Fannie Mae Homebuying Myths vs. Facts
Habitat For Humanity Benefits of Homeownership