The Kyle Porter Team

The Kyle Porter Team The Kyle Porter Team The Kyle Porter Team

The Kyle Porter Team

The Kyle Porter Team The Kyle Porter Team The Kyle Porter Team
  • Home
  • First Time Buyer
  • Products/ Programs
  • Payment Calculators
  • Down Payment Assistance
  • Renovation Lending
  • Resources
  • MORE
    • The GRIND
    • Homes for Heroes
  • More
    • Home
    • First Time Buyer
    • Products/ Programs
    • Payment Calculators
    • Down Payment Assistance
    • Renovation Lending
    • Resources
    • MORE
      • The GRIND
      • Homes for Heroes
  • Home
  • First Time Buyer
  • Products/ Programs
  • Payment Calculators
  • Down Payment Assistance
  • Renovation Lending
  • Resources
  • MORE
    • The GRIND
    • Homes for Heroes

Mortgage Lending Products

Conventional products

Conventional products

Conventional products

Newly renovated home with addition of pool

  • Fannie/Freddie Fixed Rate Mortgage
  • Adjustable Rates; 5/1, 7/1, 10/1 ARMS
  • Fannie 97
  • Investment Purchase
  • 2nd Home Purchase
  • Rate/Term & Cash-Out Refinance

Government Products

Conventional products

Conventional products

New home on the water

  • FHA & VA
  • Streamline Refinance
  • VA IRRL Refinance
  • USDA Guaranteed Rural Housing



Renovation Lending

Conventional products

Down-payment assistance

Explaining mortgage options, rates, payments, and interest

  • FHA 203k 
  • Fannie Homestyle Renovation 


Renovation loans allow you to purchase and include repairs and improvements in the purchase loan

Down-payment assistance

Down-payment assistance

Down-payment assistance

  • THDA
  • Shelby County DPA
  • MS Home Corp Loan
  • City of Memphis DPA 
  • Chenoa Fund

Find out more

specialty products

Down-payment assistance

specialty products

Explaining the process to First-Time Home Buyers

  • 12/24 month Bank Statement Loan
  • Investor Loans up to 15 properties
  • Asset Income for investors
  • Cash-Out to $1mm
  • Delayed Financing

Program Guidelines

General guidelines*

Every mortgage is different just as every borrower is different. Everyone has their own unique situation when it comes to employment, income, credit, and affordability. So, there is no "One Size Fits All" when it comes to mortgage lending. This is why its so important to speak to a professional loan officer BEFORE you buy or if you are refinancing.

*Guidelines are lender specific and may be different from other lending institutions

FHA 30 year fixed

FHA - Federal Housing Administration 

FHA loans are designed for low down-payment, and are backed by HUD and the Federal Housing Administration. 

  • Down-Payment is 3.5% of sales price and must come from borrowers own funds, gift, or down payment assistance
  • Minimum credit score requirement is is specific to lender (This is the middle score of all three major bureaus)
  • Max seller paid closing costs are 6% of Sales Price
  • Max Loan limits for 2022 are $420,680 for 1-2unit property nationwide
  • FHA Mortgage Insurance required on all loans

THDA - Tennessee Housing Development Agency

As a state agency, THDA created the Great Choice Home Loan program to make homeownership available and affordable for Tennesseans of middle/moderate income. 

  • Great Choice Home Loan
  • 30 Year Fixed Rate Mortgage
  • Great Choice PLUS Home Loan -
  • Offers a 2nd loan up to 5% of the purchase price for help with down-payment and closing costs
  • Both programs require attendance, either on-line or in person, of a THDA approved Home Buyer Education Course

Find out more

conventional mortgage products

Conventional mortgages are conforming loans that are backed by Mortgage Backed Securities. The 2 largest purchasers of mortgage backed securities are Fannie Mae and Freddie Mac. 

  • 2022 maximum conforming loan limits = $647,200* for 1-2 Unit Property
  • Minimum Credit Score is specific to lender
  • Maximum Loan to Value = 95%*
  • 5% down-payment must come from borrowers own funds and can be a gift
  • Mortgage Insurance required on any loan with less than 20% down

*Conventional loans allow up to 97% on a first-time buyer program. 

*Loan Limits are specific to City and County and can vary based on the number of units

  • Payment Calculators
  • Down Payment Assistance
  • Renovation Lending
  • Resources
  • The GRIND
  • Homes for Heroes
  • Open House Form

The Kyle Porter Team

(901) 590-7193

Copyright © 2019 The Kyle Porter Team - All Rights Reserved.  Kyle Porter, NMLS#45445, Equal Housing Lender  

NMLSconsumeraccess.org