Specializing in low-interest rate, mortgage lending
The home buying process can be confusing, but...
Loan Type Options
| Loan Type | Down Payment | Appraisal Occupancy Type | Qualifying | Loan Purpose |
|---|---|---|---|---|
| VA | No Down Payment Required | Primary Residence Only | More Lenient | Purchase and Refi |
| Conventional | Higher | Primary Residence Investment Secondary Residence |
Stricter | Purchase and Refi |
| FHA | Lower | Primary Residence Only | More Lenient | Purchase and Refi |
| USDA – RHS | No Down Payment Required | Primary Residence Only | Most Lenient Ratios | Purchase Only |
VA Loans
VA loans are guaranteed by the U.S. Department of Veterans Affairs and allow veterans and service personnel to obtain home loans with favorable loan terms and minimal down payment.
Conventional Loans
A conventional mortgage loan is a home loan that is not insured or guaranteed by a government agency.
FHA Loans
The Federal Housing Administration assists homebuyers by offering products that require lower down payments than traditional conventional loans (as low as 3.5%). For this benefit the borrower pays an upfront mortgage insurance premium, plus a monthly premium that is included with the payment.
Rural Housing Service (RHS) Loans
The Rural Housing Service (RHS), which is part of the U.S. Department of Agriculture, guarantees loans to rural residents with no down payment. Only low- and moderate- income rural residents are eligible for these loans.
