Kinecta Federal Credit Union has expanded its slate of wholesale mortgage loan products to include a Federal Housing Authority (FHA) program. This new loan program will be added to Kinecta's current offerings which include fixed- and adjustable-rate conforming and super-conforming loans, along with adjustable rate portfolio (jumbo), interest only, and piggyback HELOCs.
Following an initial trial period in March involving its Midwest regional market, Kinecta is now ready to roll out its FHA product offerings—including first-liens, refinances, and high balance loans—to all of its 17 states nationwide.
"We're excited to offer this new loan product. FHA loans offer several distinct advantages, such as lower downpayment options and flexible credit terms, which benefit our business partners in connecting with borrowers during challenging times," said Todd Helmerson, Kinecta's director of wholesale loan production.
Kinecta is a direct lender providing a range of fixed- and adjustable-home loans for purchase or refinance. It offers attractive loan products through agency and portfolio lending, in addition to special loan programs offered in conjunction with leading mortgage insurance providers.