What are some of my Loan Options?

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Conventional loans are mortgages that are issued and funded by private lenders, not by the government. They are the most common type of mortgage and can be used to buy or refinance.

An FHA loan is a government-backed mortgage funded through the Federal Housing Administration. FHA requires a lower down payment and credit score than a conventional loan and is popular with first time homebuyers and low-to-moderate income buyers.

VA Loans help Veterans, Servicemembers, and eligible surviving spouses buy, build, repair, or refinance a home with favorable terms and no downpayment. 

Jumbo Loans are designed to finance high-value properties and properties in high-priced areas. These loans are for an amount that exceeds the loan limit set by the federal government.

USDA loans provide home buying opportunities to low- to moderate income homebuyers in rural and suburban areas. Some of the benefits include no money down, 100% financing, flexible credit requirements and low fixed-rate interest rates. 

These are two programs that give you access to a low-down-payment mortgage with the benefits of a conventional loan. HomeReady allows the buyer to bring 3% of the purchase from their own money to the purchase while Home Possible allows the buyer to secure down payment from a third party.