FHA Loans (Federal Housing Administration)
We offer relaxed guidelines under various competitive FHA loan programs, including Fixed-Rate and Adjustable-Rate Mortgages (ARMS).
Down payment gifts allowed from qualified donors. FHA was created by the federal government to provide affordable housing for qualified borrowers. FHA insures the loan. Borrowers pay an up-front insurance premium which can be financed directly into the loan amount. Program also allows for seller contributions.
VA Loans (Veterans Administration)
VA loans are an easy way for veterans to purchase a home with no money down. In comparison to Conventional loans, VA loans offer 100% financing with excellent loan rates and require no monthly mortgage insurance.
Veterans may choose between a Fixed-Rate or an Adjustable Rate Mortgage. Depending on the status of the veteran, the funding fee required by the Department of Veteran Affairs varies between 0% and 3.3% of the total VA loan amount. Veterans who qualify as disabled by the VA duty are exempt from paying the funding fee. To qualify for a VA loan, a Certificate of Eligibility is needed.
The VA Energy Efficient Mortgage Program helps veterans finance “green” improvements as part of their loans. Also offering, special VA Down Payment Assistance available through FHLBA Returning Veterans Purchase Product.