Loan Programs

Down Payment Programs available!

Home Purchase Loans. 

  1. FHA Loans: FHA Loans are by far the most popular home loans for owner occupied home buyers. You can qualify for a 3.5% down payment FHA Loan with a minimum credit score of 580 FICO. You can have outstanding collections and charge off accounts and can qualify for a FHA Loan without having to pay them off.
  2. VA Loans: VA Loans is probably the best mortgage loan program available today, however, VA Loans is only available to veterans of the United States Armed Services with a Certificate Of Eligibility in good standings. VA Loans do not require any down payment and there is no mortgage insurance premium required.
  3. USDA Loans: USDA Loans is limited to areas throughout the country that is designed as rural by the Department Of Agriculture. USDA Loans do not require any down payment on a home purchase, however, USDA does have a maximum household income cap in order to qualify for a USDA Loan.
  4. Conventional Loans: Conventional Loans are also called conforming loans because they need to conform to Fannie Mae and/or Freddie Mac Lending Guidelines. Minimum credit scores required to qualify for Conventional Loans is 620 FICO. Those needing a second home and/or investment home loan needs to go with a Conventional Loan because FHA, VA, and USDA Loans are only for owner occupied primary mortgage loans and are not available for second home financing or investment property loans.
  5. Jumbo Mortgages : Any mortgage loans that is higher than the conforming loan limit of $417,000 is considered a Jumbo Loan. Jumbo Mortgages have tougher lending requirements than other loan programs because they are considered higher risk loans due the larger loan amounts and because higher end properties take longer to sell in the event if the lender forecloses on the property.
  6. One-Time Construction Loan Close Mortgage Program:This is a mortgage product that allows you to finance the construction, lot purchase, and permanent mortgage of a new home, all in one single loan. This loan product can be used for manufactured, modular, and stick-built properties.
  7. HomeStyle Renovation Mortgage: This conventional mortgage is a convenient and flexible way for borrowers considering home improvements to make repairs and renovations with a first mortgage, low downpayment and possible down payment assistance. It can be utilize with a refinance.
  8. 203K- Is a fha mortgage, that allows you to finance up to $35k in repairs, included in your mortgage. $100 down payment on some HUD homes, low down payment and possible down payment assistance. 

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