Loan Programs

Federal Housing Admin (FHA)

  • 3.5% Minimum Down Payment.
  • Monthly mortgage insurance required.
  • No income limitations.
  • Primary residences only.
  • Does not need to be a first time buyer.
  • Buyers can own other residential property. (*Restrictions apply)
  • FHA County Loan Limits up to: $420,680.

Rural Development (RD)

  • 100% Financing.
  • Closing costs can be financed up to the appraised value.
  • Primary residences only.
  • No maximum purchase price limit.
  • Does not need to be a first-time buyer.
  • Income limits based upon the number of people living in the home, varies by geographical area. (Check your area income limits)

Conventional Loan

  • Buyers can own other residential property.
  • As low as 3% Minimum Down Payment for first time homebuyers.
  • 20% required down payment to waive PMI.
  • Private Mortgage Insurance is automatically removed when the loan-to-value reaches 78%. Borrower can request for PMI to be removed at 80%. (*Restrictions apply)
  • Conforming loan limit of $647,200.
     
     

VA Loan

  • 100% Financing.
  • No income limitations.
  • Expanding qualifying ratios and flexible credit guidelines.
  • VA Funding Fee of 2.3% or up to 3.6% based on military status (financeable).
  • Does not need to be a first time buyer.
  • Uses conforming loan limit of $647,200.
     
     

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