Government Loan Programs

Government Loan Programs

First time home buyers are ideal candidates for an FHA loan. There are lower down payment options and qualifying is more flexible. In addition, it’s possible to refinance up to 97.5% of your home’s value and cash out refinance of up to 85%.

Check out some of our loan products:

FHA Loans- Fixed-Rate & ARMs, High-Balance:

A loan partially insured by the Federal Housing Administration (FHA). Allows buyers with limited funds for a down payment and/or for imperfect credit.


Key Benefits and Features:

– Down payment as low as 3.5%

– FICO credit scores as low as 580, for fixed rate loans

– Fixed and ARMs available

– Allowed property types include: single family, 1-4 unit, condos, modular homes, and “Planned Unit Development” ({PUDs) properties.

– Temporary “buydowns” available, may reduce your initial interest rate for 1-2 years

FHA 203(k) Fixed Rate Rehab:

Helps borrowers buy a home that needs repairs or renovations by providing additional funding before move-in.


Key Benefits and Features:

– 620+ FICO scores – Required to finance at least $5,000 of the renovation/repair work

– Total loan amount determined by your home’s “as completed” appraised value after renovations/repairs

– Allowed property types include: single family, 1-4 unit, condos, modular homes, and “Planned Unit Development” ({PUDs) properties

– Fixed rate, 30-year loan terms

FHA Elite:

Industry-leading government rates and pricing.


Key Benefits and Features:

– 680+ FICO score – $175,000

– County loan limit

– All fixed term mortgages

– Single Family Primary residneces

– High DTI ratios

– 3/1 and 5/1 ARMs available

FHA Streamline:

Refinance your FHA loan with no appraisal necessary.


Key Benefits and Features:

– 640+ FICO

– High DTI Ratios accepted

– Up to 60 days’ interest allowed

FHA Cash Out Refinance:

Made for borrowers who need cash to pay off other debt, want cash without having to sell their property.


Key Benefits and Features:

– 620+ FICO score

– Up to $345,000 loan amount

– Must have an existing FHA Loan


Borrowers looking for financing in rural areas; low down payments and relaxed qualifying guidelines.


Key Benefits and Features:

– Available for Purchase or Refinances

– Zero Down Payment

– Competitive fixed rates

– No cash reserves required

– Guarantee fee can be financed

– closing costs can be paid by seller


Get rid of the headache of buying a government owned property.


Key Benefits and Features:

– Close as fast as 2 weeks

– Allows holdbacks up to $5,000 for escrow repairs

For all Loan Programs aforementioned above. APR is based on a reasonably current index and margin from the Freddie Mac PMMS. This message is for information purposes only and is not an advertisement to extend customer credit as defined by Section 12 CFR 1026.2 Regulation Z. Program rates, terms, and conditions are subject to change at any time. All examples of potential mortgage products above are estimates for illustration purposes only. All programs and mortgage products are subject to borrower income, credit, and property approval. Not all borrowers will qualify. This is not an offer for extension of credit or a commitment to lend. Home valuations are estimates purchased from a third-party data provider. Actual appraised value at the time of a transaction may vary. Equal Housing Lender

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