Loan Types

FHA  - Government

FHA stands for Federal Housing Administration. The FHA program was created to help stimulate the housing market, making loans not only more accessible but more importantly more affordable.

To qualify for a FHA loan you can have less than perfect credit; even if you have undergone bankruptcy or foreclosure, you may still qualify. The required down payment is only 3.5% of your total loan value.

FHA 203k - Government

FHA 203K loans are for home buyers who are considering purchasing a home that requires repairs, such as an older or damaged home. Most often purchasing the home is costly enough, how would you afford to do all of the repairs…. with a FHA 203k loan.

*Please note: There are restrictions to repairs that qualify.*

USDA - Government

USDA stands for The United States Department of Agriculture. To qualify for a USDA loan, your property must be located in an approved rural area. USDA loans are geared to help low to moderate income consumer’s purchase, renovate, and/or repair a home that is located in a rural area

Call us today to find out if your home or the home you are interested in is eligible.

VA - Government

VA Loans assist consumers who have served or are currently serving in the U.S. Military. One of the biggest benefits of a VA loan is that there is no down payment required (unless required by lender or the purchase price exceeds the reasonable value of the property). Another benefit of taking out a VA loan is that it is also “assumable”, which if you choose to sell your property the buyer can “assume” your current mortgage loan. Certain restrictions may apply.

30-Year Fixed Mortgage & 15-Year Fixed Mortgage - Conventional

With a 30-year fixed mortgage loan your payments never change! Even your interest rate remains the same throughout the 30-year term. When rates decrease give us a call, and we will help you to refinance your mortgage to decrease your interest rate.

With a 15-year fixed mortgage loan your interest rate is most likely going to be much lower than if you were choosing a 30-year fixed mortgage. Again, payments and interest rate never change throughout the duration of your loan! You will save money opting with a 15-year mortgage versus a 30-year mortgage because you are paying off your loan in half of the time.

To qualify for a conventional loan you will need a down payment of at least 5% of your total loan value.

H.A.R.P - Government

H.A.R.P stands for The Home Affordable Refinance Program. This program is designated to home owners who took ownership prior to May 31, 2009. Harp allows homeowners to refinance to lower their monthly payments by a lower interest rate.

Jumbo - Non Conventional

Jumbo loans are for consumers seeking a “jumbo” amount; Meaning, a loan amount that surpasses the county’s general or high-loan limit of approximately $417,000. Investment properties, second homes, and high land to home valued properties are all eligible! Why not get more home for your money when rates are as low as they are today!