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Conventional Loans

Conventional loans are available with fixed and adjustable interest rates. Generally, homebuyers with higher credit scores are rewarded with lower interest rates.

Program Highlights

  • Higher loan amounts are available.
  • Mortgage insurance may be cancelled after you build your equity, which is the amount you’ve repaid on your loan plus any increase in your home’s value.
  • A variety of fixed-rate and adjustable-rate mortgages (ARMs) are available.
  • Home Possible® products provide affordable loans for 1-4 unit homes. Borrower income limits apply.

Government Insured Loans

FHA Loans

An FHA loan is a government-insured mortgage, which provides easier qualifying requirements for first time home buyers. FHA loans feature low down payments and easier credit score requirements.

Program Highlights

  • Fixed-rate and adjustable-rate mortgages (ARMs) are available.
  • Your family members may help you with gift funds to cover closing costs and down payments*.
  • Down payment assistance and grants are allowed.
  • Our FHA 203(k) loan provides additional funds for remodeling and repairs before move-in.
  • HUD REO loans only require $100 down for buying a foreclosed property.

* FHA first time homebuyers using gift funds on a purchase transaction in one of the following states (CT, DC, GA, MD, NJ, OH, PA) must have a minimum 660 FICO or cash reserves equal to a minimum of one month loan payment available.

USDA Loans

A USDA Guaranteed Loan is a government-insured loan created for homebuyers in areas with rural zoning. You may qualify for USDA financing with no money down and imperfect credit.

Program Highlights

  • Competitive, fixed-rate financing.
  • No cash reserves are required.
  • Your loan’s closing costs can be paid by your property’s seller.
  • Household income limits apply.

Jumbo Loans

Jumbo loans offer additional loan funds that are over the annual conforming loan limits*.

Program Highlights

  • You may need Jumbo financing if you’re buying in a high-cost area.
  • Fixed- and adjustable-rate loans are available.
  • Generally, Jumbo loans are priced slightly higher than conventional loans.

* http://www.fhfa.gov

Non-Agency Loans

Millions of people are ready to move up or get into the housing market, but conventional loans may not be the best fit for you.

Program Highlights

  • Down payments as low as 5%
  • Loan Amounts up to $3 Million
  • Flexible qualifying guidelines

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