Government

We offer services for great government issued loans.

FHA Loans

The Federal Housing Administration was established in 1934 to help increase home sales during The Great Depression. In current times the FHA's role is to financially back home loans to mitigate much of the risk of non-payment and foreclosure from private lenders. It is pertinent to note that the FHA is NOT a lender, but a government entity created to guarantee your loan.

Smaller down payment

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Less restrictive credit requirements

Bankruptcy does not automatically disqualify potential borrowers.

Backed by the federal government of USA.

Down Payment Required

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Loan amounts are limited and lower than conventional.

MIP (Mortgage Insurance Premium) is required regardless of LTV (loan-to-value).

VA Loans

A VA loan is a residential mortgage loan that is guaranteed by the Veterans Administration. Established in 1944 by the US, VA loans provide veterans and/or their surviving spouses with a government guaranteed home loan with NO down payment. This program, also known as the GI Bill, has been instrumental in assisting millions of American Veterans and their families qualify for lower cost home loans.

Borrower must have a Certificate of Eligibility from the VA.

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Closing costs are paid by the lender and the seller (seller may elect not to contribute to closing costs).

Borrowers are required to make a one-time funding fee based on loan amount and borrower's service length.

USDA Rural Loans

The USDA Rural Housing Service has various programs to offer assistance to low-to-moderate income rural residents for purchase, construction, repair, or relocation of a dwelling and related facilities. USDA rural housing loan programs allow qualified home-buyers to get loans with minimal closing costs and no down payment.

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Advantages:

No Down Payment requirement.

The property must be located in an eligible rural area (moved up from disadvantages)

Closing Cost can be added to the loan (if the property appraises high enough to include it at up to 102% of the appraised value).

Includes first-time home-buyers.

May include repeat home-buyers.

Loan government guarantee fee and not monthly guarantee fee.

Applicants may have a wider array of credit profiles.

Families and individuals that have minimal funds for a down payment and closing costs benefit from lower costs.

Seller concessions - 6% max.

No first-time home-buyer requirement.

No limitation on gift funds.

No cash reserve requirement.

Program Features:

The property must be in very good condition and have a high insulation R-factor.

Must be able to verify income limits.

Can not make over 50% of 115% of the median county income to qualify.

Ready to learn more?

Let's talk about your options.

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