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Government Home Loan Programs

Don’t let a tight budget stand in the way of your dream of home ownership.

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Government Loan Options

 

Federal Housing Administration (FHA) 203B Loan

For first-time homebuyers or those with recently repaired credit.

  • 3.5% down payment.
  • More flexible credit requirements.
  • Sellers may pay up to 6% closing costs.

VA Home Loan

For Active Duty and Honorably Discharged veterans.

  • No down payment required (provided the veteran is income and credit-qualified and the purchase price is less than or equal to the appraised value of the property). The Veteran borrower must have ample entitlement for the loan, evidenced on the current Certificate of Eligibility. 
  • Competitive interest rate. 
  • No mortgage insurance required.
  • Buyer informed of property’s reasonable value.
  • Comparable closing costs with other financing types. 
  • Gifts and seller contributions accepted toward closing costs.
  • Right to prepay without penalty.
  • Assistance to veteran home buyers in default due to temporary financial difficulty.
  • Streamline refinance program.

USDA Rural Housing

For low-income home buyers.

  • 100% financing.
  • Competitive fixed rates.
  • Sellers may pay up to 6% closing costs.