Committed to Helping You
Close On Your Dream Home
You dream of owning a home, but may not feel like you’re ready. That’s where we come in.
When working with Wallick & Volk, home buyers experience:
a commitment to closing
With over 90 years of family-focused experience in home buying, count on us to get you through your home purchase quickly & efficiently.
unique buyer programs
a team you can trust
Buying a home is one of the biggest investments of your lifetime. That's why it's important to have the right team in your corner.
Local expertise
Our team of experts knows the community, the realtors, the inspectors, and all of the people involved in your home-buying process.
Homebuyer Stories
“Stephanie is absolutely professional and knows her job very well! She was so helpful and had a very quick response time whenever we needed her. I’m so happy we were able to work with her. I will always recommend her to all my friends and family.” Saphiria R
“Theron was extremely knowledgeable, experienced, willing to listen and provide information whenever needed, and generous with his time. It was a real pleasure to work with him and he would be the first person I would contact if I needed to obtain a loan in the future. I would also recommend him to anyone I know who is in need of a loan.” Madeleine A
“Melissa made things very easy and seamless. I was expecting the process to be a lot longer or harder, but it wasn’t. I am very grateful for finding someone so helpful to find my family a home. Thank you.” Omar S
“Debbie was fantastic. She and her team provided a fast and stress free closing. I have already recommended W&V to several people and will continue to share my great experience with everyone I have an opportunity to share with. Thank you all!” Chris K
Our Promise To You
We understand that buying your first home can be overwhelming, especially without the right team. By leveraging over 90 years of family focused experience home buying expertise, you can count on us to get you through your home purchase as quickly and efficiently as possible.
Mortgage Lender for Home Buyers
The Home Buying Journey:
Get Your Finances In Order
One of the most important steps you can take towards the ultimate dream of home ownership is to review your personal finances and make any necessary changes and improvements. This will significantly help the home buying process run more smoothly.
Get Pre-Qualified with Wallick & Volk
Getting pre-qualified lets you know how much house you can afford. It also can give you a big advantage at different stages of your house hunt, from helping you prepare your budget and set your expectations, to strengthening your negotiating position with the seller when you’re making an offer on a home.
Look for the Right Home with the Right Real Estate Agent
Finding the right real estate agent to help you through the search and purchase process is important. A good agent will provide you a professional market analysis to show how much a given house is really worth and help you avoid paying too much for a house. They will help you negotiate the price, and also guide you through the contract and purchase process.
The Mortgage Process
Now that you’ve found the home of your dreams, you are probably wondering what’s next. The great news is that your Wallick & Volk team will be guiding you through what can sometimes be a daunting experience. Because Wallick & Volk has unparalleled service and arguably the fastest closing times in the industry, you are in good hands!
Get the Keys to Your New Home!
Choosing The Right Mortgage Program For You
There are a variety of loan options that you might qualify for, but how do you know which one to choose? For many homebuyers, when it comes to financing a new home, the options are overwhelming. That’s why it’s important to partner with an experienced Loan Officer you can trust. We’re here to help you make the best decision for your financial future.
Conventional
A conventional mortgage loan is a conforming mortgage that is eligible for purchase by Fannie Mae (FNMA) or Freddie Mac (FHLMC).
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Learn More About Conventional Loans
Fannie Mae and Freddie Mac are Government Sponsored Enterprises (GSEs), whose sole purpose is to provide affordable lending and liquidity to the mortgage market. Conventional mortgages are not insured or guaranteed by the federal government.
GSEs only buy loans such as fixed-rate and ARM mortgages that “conform” to their established loan guidelines. In general, the credit, income, down payment and loan amounts of these conforming loans comply with certain pre-determined standards.
CONVENTIONAL MORTGAGE REQUIREMENTS
-Loans must meet current conforming loan limits
-Borrowers must meet minimum credit score requirements
-Borrowers must meet debt and income guidelines
-Mortgage Insurance (MI) is typically required on any loan with a loan to value greater than 80%
Jumbo
Jumbo loans are also known as non-conforming loans. These are loans that generally exceed the Fannie Mae and Freddie Mac loan limits.
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Learn More About Jumbo Loans
As a borrower, you should look for a jumbo mortgage when needing a loan amount that is greater than the conforming loan limit in your area. In most of the country, this would be a loan amount greater than $726,200.
BENEFITS OF A JUMBO LOAN
-Purchase, Limited Cash Out, and Cash Out Options
-Less than 20 percent down with no mortgage insurance
Non-QM Loan
Non-QM loan, or a non-qualified mortgage, is a type of mortgage loan that allows you to qualify based on alternative methods, instead of the traditional income verification required for most loans.
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Learn More About Non-QM loans
Common examples include bank statements or using your assets as income. Programs include but are not limited to the following:
- DSCR (debt service coverage ratio using rent flow to qualify on investment properties)
- Bank Statement
- Profit & Loss Statement
- 1099
- Verbal verification of employment
- Asset Utilization
- Jumbo (expanded loan to values)
- Foreign Nationals ITIN)
- Non-Permanent Resident
- Business Purpose
- Non-Warrantable Condos
First-time Homebuyer
More loan options are available for first-time homebuyers than ever before.
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Learn More About First-time Homebuyer Loans
A wide variety of mortgage options and programs are available specifically for first-time homebuyers.
MORTGAGE OPTIONS & PROGRAMS AVAILABLE FOR FIRST-TIME HOMEBUYERS
-Down Payment Assistance Programs
-Programs that allow gift funds from friends or family
-Non-repayable grants for down payments and closing costs
Renovation
Are you in the market to purchase a foreclosure that requires either minor or extensive renovation? Have you found your dream home in the perfect location, but it needs some updates?
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Learn More About Renovation Loans
Perhaps you’re interested in remodeling your current home or adding a room to accommodate a growing family. Perhaps you want to improve the energy efficiency of your residence or the home you want to purchase.
Whatever your scenario, we have a loan for you! Several options are available, both government-insured and conventional, which will finance the value of the home plus the cost of the renovations.
FHA 203 (K) RENOVATION PROGRAMS
-The Streamlined 203(k) loan allows the borrower to make minor cosmetic changes to a property up to $35,000.
-The Standard FHA 203(k) loan allows substantial structural improvements, repairs, and remodeling. You can even rebuild from the existing foundation up!
FNMA HomeStyle Renovation Program
The FNMA HomeStyle Renovation mortgage provides a convenient way for borrowers to make renovations, repairs, or improvements. These costs can total up to 50 percent of the “as-completed” appraised value of the property with a first mortgage. You do not need to resort to a second mortgage, home equity line of credit, or other more costly financing method. Eligible borrowers for this program include both individual home buyers and investors.
BENEFITS OF THE FNMA HOMESTYLE RENOVATION PROGRAM
-Cost-effective way to renovate or improve a home
-A single mortgage means lower closing costs
-Typically, you will obtain a lower interest rate on a first mortgage than you will with a second mortgage, home equity line of credit, or other financing method
-The loan amount is based upon the “as-completed” value of the home or the cost basis (purchase loans), whichever is less
FHA & VA
The Federal Housing Administration (FHA) makes affordable purchasing or refinancing options available to borrowers.
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Learn More About FHA & VA Loans
The FHA program was created in 1932 as a response to the foreclosures and defaults that happened in the 1930s. FHA provides mortgage lenders with adequate insurance and makes loans more accessible and affordable for borrowers with poor credit or a low down payment.
BENEFITS OF AN FHA HOME LOAN
-An FHA loan is one of the easiest mortgage loans to qualify for, as it requires a low down payment. For FHA loans, a down payment of 3.5 percent is required, which is significantly less than the traditional down payment of 20 percent.
-A borrower can have less-than-perfect credit. Borrowers with credit scores as low as 580 can qualify for an FHA loan
-An FHA loan can be assumable, meaning that if you want to sell your home, the buyer can “assume” the FHA loan you have. People with low or bad credit, have undergone a bankruptcy, or have been foreclosed upon may be able to still qualify for an FHA loan
-A VA loan is a mortgage which is backed by the Department of Veterans Affairs (VA) for those who have served or are presently serving in the U.S. military. The VA does not actually lend money for VA loans, but it backs loans made by mortgage companies to veterans, active military personnel, and military spouses who qualify.
-Individuals who are eligible for VA loans are veterans, active-duty personnel, reserve members, National Guard members, and some surviving spouses. You must also have suitable credit, sufficient income, and a valid Certificate of Eligibility (COE). You must also use the home for your own personal occupancy.
BENEFITS OF A VA HOME LOAN
-100% financing, no down payment required
-No monthly mortgage insurance (MI) required
-VA loans are assumable, subject to VA approval of the assumer’s credit
-30 year fixed loan with interest rates similar to FHA
Rural Development USDA
The US Department of Agriculture (USDA) Rural Development Single Family Housing Guaranteed Loan Program is one of the most powerful mortgage options available for rural homebuyers.
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Learn More About Rural Development Loans
The USDA loans are designed to help low or moderate-income people buy a home in a rural area. Some of the popular types of loans are: The single family direct homeownership loan and the single family guaranteed homeownership loan. In order to obtain a USDA loan, the property as well as the borrower’s income must meet the USDA’s eligibility requirements.
Check to see if your property qualifies.
Benefits of a USDA Home Loan
-No Down Payment Required – Borrowers who qualify for a USDA Rural Development home loan have the flexibility to pay nothing out of pocket for a down payment
-Use a gift or grant to go toward their mortgage
-Flexible Credit Guidelines
-No Maximum Purchase Price
Reverse Mortgage
A Home Equity Conversion Mortgage (HECM), commonly known as a reverse mortgage, is a Federal Housing Administration (FHA) insured loan.
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Learn More About Reverse Mortgages
A HECM enables seniors to access a portion of their home’s equity to obtain funds without having to make monthly mortgage payments as long as they live in the home as their primary residence, continue to pay required property taxes, homeowners insurance and maintain the home according to FHA requirements.
To be eligible for a HECM reverse mortgage loan, all homeowners must be at least 62 or older and must meet financial eligibility criteria as established by HUD.
Refinance
The term “refinance” refers to the process of securing a new loan to pay off an existing lender.
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Learn More About Refinancing Loans
You may be considering a refinance to change your current loan program or enhance your financial position. Just as with a home purchase, you and your home must both qualify for the new loan, and your ability to refinance may depend on the amount of equity in your home.
REASON HOMEOWNERS SELECT THIS TYPE OF LOAN
-Obtain a lower interest rate
-Lower their mortgage payment
-Switch from one type of mortgage program to another
-Consolidate debt
-Withdraw equity from the home to remodel, fund college expenses, or purchase another property.
Fixed & Adjustable Rate
Fixed-rate mortgages are the most common way to finance a home in the United States.
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Learn More About Fixed & Adjustable Rate Loans
A fixed-rate mortgage, often referred to as the most straightforward of mortgages, is a fully amortizing loan where the interest rate on the note remains the same through the life of the loan, as opposed to loans where the interest rate may adjust or “float.” The most popular fixed-rate term is 30 years, but a 15-year term is not uncommon.
BENEFITS OF A FIXED-RATE MORTGAGE
-A primary benefit of fixed-rate mortgages is the stability of monthly payments while allowing the homeowner to refinance their loan if interest rates fall
-Fixed-rate mortgages are easy to understand and vary little from lender to lender
-The borrower is protected from sudden and potentially significant increases in monthly mortgage payments if interest rates rise
-A 15 year fixed-rate mortgage saves considerable interest expense, and provides faster equity buildup
WHAT YOU NEED TO KNOW ABOUT AN ADJUSTABLE RATE MORTGAGE
-An Adjustable Rate Mortgage (ARM) is a mortgage with an initial interest rate that typically lasts for a few years, and then adjusts periodically after that. Your interest rate, and thus your monthly mortgage payment, will most likely increase after the Adjustable Rate Mortgage’s introductory period.
-Most ARMs are based on a 30-year loan term, one of the few constants in this type of home financing. The length of the initial rate period, the interest rate thereafter, and the value of your home are all subject to change
-Typically, ARM loans come with a ceiling or a cap, which ensures that your rate won’t spiral out of control at the end of the initial rate period.
-An ARM is more of a calculated risk than a gamble, but it can be very rewarding to a borrower in the in the short term
-Home buyers often use the adjustable rate mortgage to obtain a lower initial mortgage rate and payment, then aggressively pay down their loan principal with extra payments
Get Your Offer Accepted With Cash To Win
Don’t miss out on your dream home because of competitive market conditions. At Wallick & Volk, we are committed to closing – even when the housing market is competitive – which is why we introduced Cash to Win. With our unique Cash to Win program, we empower homebuyers with the funding they need to make a CASH offer.
Connect With Our Expert Team
We pride ourselves on providing personalized and attentive service, understanding your unique needs and preferences. Whether you’re a first-time homebuyer or an experienced investor, our knowledgeable team will guide you through every step of the process, from searching for the perfect property to negotiating the best terms. With our expertise and dedication, we’ll ensure a smooth and rewarding home buying experience for you.
