Loan Products

First Meridian Mortgage Corporation is proud to offer home buyers in Maryland, Virginia and Washington DC with the following loan products. Call us to find out more about our services and what we can do to help you.

Conventional mortgage loans

A conventional loan is any mortgage loan that is not backed or insured by the federal government. With this type of loan, the underlying terms and conditions must follow the rules and regulations of Fannie Mae and Freddie Mac.

Government home loans

The United States government has always had a hand in the housing sector. Many people are not aware that federal based loans have not tightened their qualifying standards when it comes to home loans like institutional lenders.

Non-conforming loans

A loan that qualifies as a non-conforming loan does not meet the standards set by the financial Freddie Mac or Fannie Mae. In most situations, either the property or the borrower’s financial status does not meet the requirements for a traditional loan.

Home equity loans/lines of credit

A home equity loan is when a second loan is taken out on the equity a homeowner has in the home. Equity is the difference in the actual market value of the home and the amount that the owner still owes on the mortgage.

Home improvement loans

Doing home improvements is one reason that equity is cashed out. Investing in your home only increases the value of the property and, in effect, increases the equity on the home.

Debt consolidation

Bills are something that everyone has to deal with, but sometimes they can become overwhelming and make us feel like we are drowning. Refinancing to consolidate all of your debts is an option that is often referred to as a “cash-out” refinancing loan.