Get To Know The FHA Program

The Federal Housing Administration offers a loan program built to allow for more buyers to qualify than the traditional conforming loan programs. The FHA has loosened the credit restrictions for qualifying, they allow for lower credit scores, higher Debt-To-Income ratios, and lower down payments. However, FHA loans do have property restrictions that are stricter than conforming loan programs. Properties that are not up to FHA standards can cause appraisals to fail, resulting in slower turn times and, in some cases, repairs to the property that can come at a cost to the buyer.

3.5% Down Payment

1.75% Up-Front Financing Fee

Minimum 580 FICO

You will be required to put at least 3.5% down for your FHA loan. You can always put more, but that is the minimum required.

You can pay the funding fee up-front at closing or you can roll the fee into your loan amount at closing.

FHA has a lower credit floor than most programs that allow for more buyers to qualify.

VA Loans For Service Members

Are you a veteran looking for a home? Call me today to find out about the VA loan program. You've served us, now it is time to let us serve you. This program offers service men and women the ability to get into their home with as little as 0% for the down payment! Take advantage of a great low-rate and the same efficient service when you choose a VA loan for your home purchase. 

Reserved For Veterans

0% Down Payment

No Monthly Mortgage Insurance

VA Funding Fee

You MUST be a veteran or active-duty service member to qualify

This program offers 0% Down Payment Financing

VA Loans are NOT required to pay for monthly mortgage insurance

The VA Funding Fee is 2.3% for first time benefit users

USDA and Rural Lending

The USDA Loan Program is for lending in rural areas of the country. Homes located near large urban areas are permitted from using this program. However, if your home is in a USDA eligible area, you may have the option to use this 0% Down program. Keep in mind, the location of your property does not automatically qualify you for the program. There are income and credit restrictions that you must meet in order to receive a USDA loan.

Reserved For Homes in Rural Areas

0% Down Payment

USDA Guarantee Fee

AMI Limit

The home you are purchasing must be in a rural area. You can check if your home qualifies on the USDA website, Click Here

This program has options for 0% Down Payment financing

There is a Guarantee Fee of 1% of the loan amount. There is also an annual fee of 0.35% the loan amount paid yearly

Your income must be at or below 115% of the AMI for your county