Loan Resources

When you have mortgage questions, we have answers.

The mortgage loan process can seem complex. Luminate, and specifically the Liz Peter Team, wants to ensure you feel educated as you move through the process.


Whether you're a first time home buyer, you're looking to refinance, or have a unique situation, we'll help you understand all your options, so you can have the home of your dreams.

Traditional Loan Products

Traditional mortgages are the backbone of the American dream of owning a home. They offer stability, competitive interest rates, and a wide range of options tailored to your unique financial situation.


Our team of experts specializes in traditional mortgage solutions, and we're here to help you explore the possibilities:


  • Conventional Loans: Explore traditional financing options with flexible terms, down payment choices, and competitive interest rates.
  • FHA Loans: If you're a first-time homebuyer or have a lower credit score, an FHA loan could be the right option for you, with a lower down payment requirement.
  • VA Loans: For eligible veterans, active-duty service members, and select military spouses, VA loans offer favorable terms and no down payment requirements.
  • Home Equity Loans & Lines of Credit: Tap into your home's equity for renovations, debt consolidation, or other financial goals.
Apply for a Traditional Mortgage

Non-Traditional Loan Products

Are you looking for a mortgage solution that breaks free from the traditional mold? That's why we're here to introduce you to a world of non-traditional mortgage options designed to fit your unique needs and financial circumstances.


Our team of experts specializes in creative financing solutions, and we're excited to help you explore the possibilities:


  • Balloon Loans: Enjoy lower monthly payments for a set period before a lump-sum payment is due, suitable for borrowers with short-term homeownership plans.
  • Adjustable-Rate Mortgages (ARMs): Take advantage of lower initial interest rates with an ARM. We'll help you understand the benefits and risks to make an informed decision.
  • No-Doc and Low-Doc Loans: If you're self-employed or have unique income sources, these loans might require less documentation than traditional mortgages.
  • Home Equity Conversion Mortgages (HECMs): For seniors aged 62 and older, HECMs provide a way to convert home equity into cash to enhance retirement.
Apply for a Non-Traditional Mortgage

Down Payment Assistance

For many aspiring homeowners, the hurdle of saving for a down payment can be a significant barrier. That's where Down Payment Assistance comes in.


We believe that homeownership should be within reach for everyone, which is why we offer a range of services to help make homeownership more accessible and affordable. Our team is here to help:


  • Identify Eligibility: We'll help you determine if you qualify for any Down Payment Assistance programs based on your unique circumstances.
  • Application Assistance: We'll guide you through the application process, ensuring you have the necessary documentation and meet all program requirements.
  • Education & Support: Our experts will provide you with the information and support you need to make informed decisions about Down Payment Assistance.
Get Down Payment Assistance

Bridge & Construction Loans

Let's face it - your dream home may not always be readily available on the market. That's why we offer Bridge and Construction Loans, designed to turn your vision into a reality. 


A Bridge Loan is your bridge to a seamless home transition. It provides short-term financing to help you purchase a new home before selling your current one. With this flexible solution, you can secure your dream home without the stress of waiting for your existing property to sell.


We also realize that building your dream home from the ground up can also be an exciting journey. Our Construction Loans provide the financial support needed to turn your vision into reality. Whether you're planning a new construction or a major renovation, we've got you covered.

Apply for a Bridge or Construction Loan

How Our Mortgage Process Works

1. Apply for Pre-Approval

Your first step to homeownership starts with applying for pre-approval. See above for what items we recommend you have on hand.

2. Review Your Options

Once we receive all of your requested documents, we'll schedule a time for us to meet so we can review your mortgage options, talk about the home buying process, and issue your pre-approval!

3. Search for Your Home

Now for the fun part...you can start searching for your dream home! Your pre-approval will show buyers that you're serious and make your offer more appealing.

4. Get An Offer Accepted

Once you find your dream home and your offer is accepted, your interest rate will be locked in.

5. Title Work Ordered

Next, all of the appraisal and title work is ordered.

6. Underwriting

All documents are then sent to underwriting for review - you're in the home stretch!

7. Final Figures

Once underwriting is done reviewing everything, you'll receive final figures for closing.

8. Closing

Now all you have to do is attend the closing with your driver’s license and receive the keys to your new home. Congratulations!

Common Questions

If you have questions that aren't covered here, don't hesitate to reach out to us. Our team is dedicated to providing you with comprehensive information and support throughout your mortgage journey. Your inquiries are always welcome!

  • Do we need to provide all of our information to get a rate quote?

    We can make assumptions but prefer not to since once we get your information it can change. There are over 25 different variables that go into the rate. Top variables are credit score, loan amount, loan compared to value, occupancy, and how much or if you want to pay what is called “discount points” to buy the rate down.

  • Do you guys do a hard credit pull/inquiry?

    Yes, we have to do a hard credit inquiry so we know your credit score. Lenders use a mortgage model which is most of the time different from what the free services give you. The free credit services give you an idea of where you might be, but the score may not be accurate. Credit is one of the major factors that affect interest rates.

  • How long is a preapproval good for?

    Preapproval is good for 120 days.  After that, information will have to get refreshed to extend that time.

  • How long does it take to get pre-approved?

    Preapproval can get done as quickly as one day or may take up to a week depending on how long it takes to receive your required information. 

  • What are the closing costs?

    The closing costs are mostly fixed costs associated with getting the loan. In addition, there are some variable items to set up escrow to pay for taxes and insurance at closing. Also, potential points to buy down a better interest rate or lender credit for a higher rate.  General rule of thumb of 3% of the purchase price can be a good gauge for homes in the $275K to $375K range. 

  • Who do I pay and when?

    Inspections will have to be paid at the time of the inspection. Earnest money is usually paid at the time that your offer is accepted. Sometimes appraisals are paid at the time of the appraisal (other times it will be collected at closing). The remaining items are paid at closing. 

  • When is my first payment?

    Typically, 30-60 days from closing.  Due on the 1st of each month with a 15 day grace period.

Calculate Your Monthly Mortgage Payments