Ideal for first-time buyers, these mortgages can help reduce or eliminate nearly every cost associated with obtaining a home loan.  The most popular of these programs is the USDA/Rural Development mortgage which has maximum income and property location requirements.  Contact a loan officer for additional information.

Conforming long-term, fixed-rate and adjustable loans that meet Fannie Mae and Freddie Mac loan limits, property and borrower guidelines. Generally has higher loan limits than FHA and VA.

The FHA loan program is an outstanding choice for first time homebuyers because the program requires only 3.5% cash (which may be a gift) into the transaction and is significantly more forgiving of past credit issues. We will look specifically at the last two years of your credit history. If there are some credit problems, we may be able to overcome them with sufficient explanations and supporting documents of why the issues occurred. Never rule yourself out of qualifying for FHA loan because of credit, prequalify  and have us review your credit.

If you currently have an FHA loan and are considering refinancing to lower your monthly housing cost there is a simple low cost " FHA streamline" refinance process which you should consider. One of the important features of the FHA program is that the loan is assumable should you sell in the future. If interest rates rise, an assumable mortgage may be the difference between being able to sell your home or not. Please call for more details.

HUD has developed an FHA insured mortgage, called the "Streamline (K)" Limited Repair Program that permits homebuyers to finance up to an additional $35,000 into their mortgage to improve or upgrade their home before move-in. With this product, homebuyers can quickly and easily tap into cash to pay for property repairs or improvements, such as those identified by a home inspector or FHA appraiser. All standard FHA underwriting guides apply as they do for regular FHA loans in regards to credit, income & asset documentation, as well as the use of automated underwriting systems and manual underwrites.

  The VA loan is available to Active Duty Military, Veterans and Reservists. The VA home loan program gives you the ability to buy with no out of pocket cost. The loan maximum is $417,000 including the VA imposed Funding Fee. As the VA program requires no mortgage insurance, monthly payments are frequently less than any other no down payment loan. If you have a high interest rate VA loan, there is a low cost Interest Rate Reduction Loan (IRRL) program which allows you to refinance and lower your mortgage payment inexpensively. 

An "ARM", or "Adjustable Rate Mortgage" has a fluctuating interest rate and the potential for changing payment amounts. In most ARM mortgages, the interest rate on a loan is fixed for a certain number of years and then allowed to fluctuate in sync with current economic factors.

An adjustable rate mortgage can be a useful tool when fixed rate loan rates begin to rise. In recent years, many lenders have introduced some vary creative programs which can give you an opportunity to actively manage your mortgage payments.

A Reverse Mortgage is a special type of home equity loan that allows borrowers to retain ownership of their property and receive a monthly check representing a portion of the equity in the property. No money is due until the property is sold, the owner dies, or an agreed upon date is reached.