Understanding Loans

First-Time Homebuyers

Purchasing a home is one of life's major milestones and for some, it is even a dream come true. Securing a loan is the most important piece of the homebuying puzzle, but home loans can be very complex. It’s likely that you’ll have several financing options, all with different features. NOLA Lending has the expertise to guide first-time homebuyers like you through the process and we offer many mortgage types with different features to help you find your best fit.

See our buyer resource guide for a detailed explanation of the mortgage buying process and other information you'll need to know before applying for your first mortgage.

Military

Most veterans, active-duty personnel and some surviving spouses are eligible for a VA loan. Veterans Affairs guarantees a portion of the loan, enabling NOLA Lending to provide you with more favorable terms.

Options are also available to reduce your existing monthly VA mortgage payments by lowering your interest rate.

Investment Property

There are many choices when it comes to financing your investment property. A primary consideration in determining your best loan option is based on what your plans are for the property. See our tips on investment property financing.

Refinance

Refinancing usually involves obtaining a new first loan, issued on more favorable terms. This new first loan covers the remaining balance of your mortgage.

It is important to understand your refinancing needs. Are you trying to lower your monthly payment, draw equity out of your home or shorten your mortgage term? Knowing your reasons for refinancing and the options available to you, can result in big benefits. 

The type of mortgage you select should depend on how long you expect to stay in your current home, as well as your budget for necessary monthly expenses. For more information on refinancing and how to best navigate the process, see our resources guide for refinancing.

Purchasing a New Home

View the most common loans offered to homebuyers.

Credit Challenged

There are many options for our customers who have less-than-perfect credit. A NOLA Lending Group loan officer can help you find a loan that works for you. Find the NOLA Lending office nearest you.