South Wind Financial’s Getting Started Checklist

Here are some things that you can do to be prepared for the loan process, as well as what to expect next. We are here to help you every step of the way.

Review your credit report and dispute any blemishes on your credit report if they don’t look right.  Be sure to check with all three major credit unions for any discrepancies.  Transunion, Equifax & Experian.

Gather your (and anyone else applying for the the mortgage) last two years of tax returns and proof of income (W2s or pay stubs)—or your year-to-date profit and loss statement if self-employed.

Meet with our knowledgeable team and determine which loan options will best suit your needs. This is a good time to decide how much monthly mortgage payments will fit with your budget. Our calculator will assist you in finding a price range. We will help you get pre-approved, letting sellers know you are gearing up to make a purchase

Decide which area is best for your new dwelling, and determine your needs versus wants in the home. Consider the community, school district, and trends of past home sales in the immediate area.

Find local real estate agents in the area and begin visiting open houses and private showings of properties.

The Right Tools =
The Right Decision.


Types of Loans We Provide

A conventional home loan is a mortgage that is not insured, or guaranteed, by the federal government. They’re popular with borrowers who have good credit, a stable job and income, who can afford a down payment, and people who are financially stable overall.


  • Can be used for almost all types of homes
  • Possibility of eliminating mortgage insurance with 20% or more down payment
  • Low rates with financial stability and good credit

Ready to buy your first home? Working with limited income or money for a down payment? A government-insured Federal Housing Administration (FHA) home loan could be the right solution for you. FHA loans have been helping people buy homes, whether the first or the fourth, since 1934.


  • A low 3.5% down payment
  • Flexible income and credit requirements
  • Low closing costs
  • 10-30 year terms

A VA home loan is a great benefit to military personnel during and after their service. VA home loans are partly guaranteed by the U.S. Department of Veterans Affairs. Southwind Financial understands the needs of military and their families and is proud to be able to help active and retired military use this product to meet their unique needs.


  • No down payment
  • Higher loan value
  • No private mortgage insurance
  • Limit on closing costs
  • Option for seller to pay closing costs
  • No penalty fee for early payoffs

Like the FHA, VA and other government-backed loans, it’s guaranteed by the U.S. Department of Agriculture. Originally designed to provide a mortgage alternative for rural property buyers who had limited financing options, today it has become a viable mortgage option for people who want to live away from cities and enjoy country living. 97% of properties can qualify for the program.


  • No penalty fee for early payoffs
  • Low interest rates
  • Low private mortgage insurance
  • Flexible credit guidelines
  • No down payment

Also known as a “non-conforming” mortgage because it is for an amount that exceeds the conforming limits regulated by two federally sponsored enterprises. The maximum conforming jumbo loan limit is currently $424,100. This loan is used by a wider range of people looking for a mortgage in a housing market where the home prices are high, well above the local or national average.


  • Finance up to $2.5 million
  • Fixed Rate Mortgage options available with 10 to 30 year terms
  • Adjust Rate Mortgages (ARMs) available
  • No mortgage insurance required if loan to value ratio is greater than 80%

Whether your current home needs a face lift, or you have an investment property that requires major structural repairs, we can help you finance your project. These loans are a type of refinancing that lets you roll the costs of the work you do into your new mortgage.


  • Allows funds to purchase home and make repairs
  • Low down payment options
  • FHA 203K allows upto $35k for minor repairs
  • Homestyle allows repair costs to be up to 50% of as completed value
  • Note: these programs are only available in Arizona, California, Colorado, Florida, Idaho, Massachusetts, Pennsylvania, Nevada and Washington State

Home Possible is a Freddie Mac loan program designed to bring home ownership within reach to more borrowers. In addition to low down payments and easier credit scoring, you may qualify for an Affordable Second – a secondary loan from a state/county agency or nonprofit.


  • Low down payment options
  • Credit scores from 620 are allowed
  • Property types include single family, 2-4 unit properties, modular homes, condominiums and properties in Planned Unit Developments (PUDs)
  • Fixed-rate financing for easier budgeting

An affordable, low down payment mortgage product designed for creditworthy low to moderate income borrowers, with expanded eligibility for financing homes in low income communities.


  • Down payments as low as 3%
  • Cancellable mortgage insurance
  • Allows co-borrower flexibility
  • Accepts additional income sources

If  your goal is to refinance your existing home, purchase a second home or investment property that exceeds the county loan limits of $424,100, this may be the right fit.


  • Credit scores from 620 allowed
  • Ability to exceed county loan limits in select counties
  • Fixed Rate mortgage options available with 15 and 30 year terms
  • Adjustable Rate Mortgages (ARMs) available

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