Conventional Loan
FHA Loan
We offer conventional loans with 20% down.
we also offer:
Fannie Mae Home Ready conventional
Freddie Mac home possible conventional
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3% Down
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FICO 650+
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DTI (debt to income ratio) slightly differs by institution you work with
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50% max DU - Fannie Mae
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45% max LP - Freddie Mac
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DU = Desktop Underwriter (used by Fannie Mae)
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LP = Loan Product Advisor (formerly Loan Prospector, used by Freddie Mac)
With FHA (Federal Housing Administration)
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No overlays, underwriting is based on
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FHA guidelines.
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as low as 3.5% down.
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low closing cost.
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easy credit qualifying.
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FICO as low as 580 with 3.5% down.
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FICO between 500 - 579 as low as 10% down.
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MIP(mortgage insurance premium) required.
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steady income and proof of employment.
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Home must borrower's primary residency.
Adjustable Rate Mortgage (ARM
Loan)
USDA Loan
Usually offer lowest interest rate possible. Starts with fixed interest
rate for 5,7, or 10 years then adjusts every 6 months after.
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3% Down
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FICO 650+
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DTI (debt to income ratio) slightly differs by institution you work with
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50% max DU - Fannie Mae
-
45% max LP - Freddie Mac
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DU = Desktop Underwriter (used by Fannie Mae)
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LP = Loan Product Advisor (formerly Loan Prospector, used by Freddie Mac)
Designed for veterans,service members and eligible surviving
spouses.
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May offer no down payment.
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Reduced closing costs.
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No PMI (private mortgage insurance).
Vacant Land/Lot Loan
Residential Lot Loans are a convenient and easy way to finance that perfect piece of land for your new home.
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20 years fully amortized.
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Max LTV 65%.
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20-35% down payment.
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No limit on acres.