Loan Programs

One size loan does not fit all. Good credit or not-so-good credit, we can find you a loan. Whether it's a purchase or re-finance, we have the most comprehensive loan products on the market for you to choose from that fit your individual needs.

FHA loans

An FHA loan is insured by the Federal Housing Administration, a federal agency within the U.S. Department of Housing and Urban Development (HUD). The FHA does not loan money to borrowers, rather, it provides lenders protection through mortgage insurance (MIP) in case the borrower defaults on his or her loan obligations.

FHA loan programs are particularly beneficial to those buyers with less available cash. The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans.

Some of the other benefits of FHA financing:

Only a 3 1/2 percent down payment is required.
Gifts are allowed for the down payment and/or closing costs.
Closing costs can be paid by the seller.
Lower monthly mortgage insurance premiums
More flexible underwriting criteria than conventional loans
FHA limits the amount lenders can charge for some closing cost fees (e.g. the origination fee can be no more than 1% of mortgage).
Loans are assumable to qualified buyers.
FHA Cash out refinance loans available up to 85% of home value
Streamline FHA to FHA refinance loans available with NO Appraisal

VA Loans

We offer 100% Purchase and cash-out refinances on VA Loans - Payoff subordinate liens and credit cards

VA guaranteed loans are made by lenders and guaranteed by the U.S. Department of Veteran Affairs (VA) to eligible veterans for the purchase or refinance of a home. The guaranty means the lender is protected against loss if you fail to repay the loan. In most cases, no down payment is required on a VA guaranteed loan and the borrower usually receives a lower interest rate than is ordinarily available with other loans.

Other benefits of a VA loan include:

We offer 100% cash-out VA refinance loans!!!
Negotiable interest rates.
Closing costs are comparable and sometimes lower - than other financing types.
No private mortgage insurance requirement.
Right to prepay loan without penalties
Loans are assumable to qualified buyers.
Streamline VA to VA Interest Rate Reduction loans available with NO Appraisal
Counseling and assistance available to veteran borrowers having financial difficulty or facing default on their loan.

Although mortgage insurance is not required, the VA charges a funding fee to issue a guarantee to a lender against borrower default on a mortgage. The fee may be paid in cash by the buyer or seller, or it may be financed in the loan amount.

A VA loan can be used to buy a home, refinance a home, and even improve a home with energy-saving features such as solar or heating/cooling systems, water heaters, insulation, weather-stripping/caulking, storm windows/doors or other energy efficient improvements approved by the lender and VA. A Certificate of Eligibility from the VA must be presented to the lender to qualify for the loan.

Reverse Mortgages

Reverse Mortgages (also called HECM - Home Equity Conversion Mortgages) enable homeowners age 62 or older to tap into their equity without selling their home. You can stay in your home AND retain title to it!! These loans are Federally Insured by HUD. A Reverse Mortgage can give you tax-free cash for what you want or need by allowing you to safely tap into your home equity. You can use the cash to payoff your existing mortgage and make home repairs or improvements, or to payoff debt or medical bills, or for any other reason you desire.

The lender pays you money based on the equity you've accrued in your home; you can receive a lump sum, a monthly payment or a line of credit or a combination of the three. Repayment is not necessary until the borrower sells the property, moves into a retirement community or passes away. When you sell your home or no longer use it as your primary residence, you or your estate must repay the cash you received from the reverse mortgage plus interest and other finance charges to the lender.

Reverse mortgages are ideal for homeowners who are retired or no longer working and need to supplement their income and/or eliminate their monthly mortgage payment. There are NO monthly mortgage payments required and NO income qualifications. Interest rates can be fixed or adjustable and the money is nontaxable and does not interfere with Social Security or Medicare benefits. Your lender cannot take property away if you outlive your loan nor can you be forced to sell your home to pay off your loan even if the loan balance grows to exceed the property value.

100% USDA Rural Housing Loans are also Available!!!

It is hard to beat the flexibility and great rates of USDA Rural Housing loans. This program is geared toward homebuyers who live in rural areas of the country and who have little to no money to put down. USDA Rural Housing loan programs offer flexible, common sense underwriting guidelines, relaxed credit requirements, no PMI (private mortgage insurance) , the ability to finance closing costs into the loan amount, lenient seller concessions, and rates that are comparable to, if not better than, conventional fixed rate mortgage programs. Please keep in mind that there may be many homes that qualify for this type of financing that may not actually appear to be in a Rural area but have been identified on the Rural Housing Eligibility map.