Loan Programs
Fixed Rate Mortgages
The traditional fixed rate mortgage is the most common type of loan program, where monthly principal and interest payments never change during the life of the loan. Down payments can be as low as 5% but typically start at 10%.
FHA Mortgages
An FHA loan allows you to buy a house with as little as 3.5% down, instead of the higher percentages required to secure many conventional loans. Taking advantage of the FHA loan program is a great way for first time buyers, or anyone with a shortage of down payment funds, to buy a home.
VA Mortgages
The GI Bill was signed into law by President Franklin D. Roosevelt and provided veterans with a federally guaranteed home with no down payment. This feature was designed to provide housing and assistance for veterans and their families. VA loans are available to eligible veterans for the purchase of a home, which must be for their own personal occupancy.
USDA Rural Development Loans
A USDA Rural Development loan is a zero down, fixed rate loan with no monthly mortgage insurance. The home must be located within an approved USDA eligibility area to qualify and certain income limits apply.
Reverse Mortgages
A reverse mortgage is a type of home equity loan for senior citizens that allows you to convert some of the equity in your home into cash while you retain home ownership. Best of all, there are never any payments with reverse mortgages!
What kind of loan program is best for you?
Contact us today to find a loan program that best suits your needs!
