FHA Home Loan
FHA Loans are insured by the Federal Housing Administration (FHA), a branch of the U.S. Department of Housing and Urban Development, or HUD. FHA is often the best option for people who need a little extra flexibility when qualifying for a new home mortgage. You do NOT need to be a first time buyer - anyone who is buying a new home to use as their Primary Residence, or Second Home is eligible.
- For Primary Residence or Second Home
- A minimum of 3.5% down payment required – May be a gift!
- Seller can contribute up to 6% of borrower’s closing costs
- Flexible Mortgage Guidelines
- Available for Purchase and Refinance Transactions
VA Loans
The Department of Veterans Affairs (VA) offers financing on primary residences for Veterans. The VA determines eligibility and issues a certificate to qualifying applicants to submit to their mortgage lender of choice. It is generally easier to qualify for a VA loan than conventional loans.
- Must be a Veteran, Active Duty Military, or member of the Reserves.
- Up to 100% Financing – No Down Payment
- No Monthly Mortgage Insurance
- Closing Costs May Be a Gift
- Available for Purchase and Refinance Transactions
Conventional Loans
Conventional loans are the most common and widely available mortgage option. For borrowers with good credit, balanced income, debt and some down payment, they are often the least complicated way to get the most flexible mortgage options.
- Fixed Rate for the life of the loan
- 10, 15, 20 and 30 year terms
- Loan Amounts up to $548,250
- Can Finance Primary, Second Homes, and Investment Properties
- Low Down Payment Options Available for Qualified Borrowers
- Available for Purchase and Refinance Transactions
