Loan Programs

FHA 203b

Allows financing up to 96.5% 1st with a 3.5% "2nd" mortgage for a maximum 100% financing, offers lower credit scores, higher debt to income ratios & gift funds for down payment & closing costs. 203(b) is the most common mortgage loan product insured by the FHA.

FHA 203k

Intended for homes needing significant rehabilitation. Allows you to finance the purchase of a house (or refinance your current mortgage) and include the cost of the repairs. Funds disbursed in several stages, initial amount needed to purchase home or payoff existing mortgage (refi) with additional distributions as repairs are completed.

CONVENTIONAL

HomeReady & Home Possible program allows up to 97% financing for qualified first-time home buyers with a minimum credit score of 600. FNMA also offers financing for primary residences, investment, vacation homes, and multifamily up to 4 units. FNMA Home Style is a renovation/Rehab loan which allows up to $726,200 loan limits.

VA

Available to most current or prior Veterans. Allows up to 100% financing to $726,200 (in most counties) with just a small down payment for loan amounts to $4M.

USDA

Offers 102% financing, with a credit score as low as 600. For eligibility, household income must meet certain guidelines & the home to be purchased must be in an eligible rural area as defined by the USDA.