1. FHA 203(b)
3.5% down-payment for traditional programs
No down-payment options with a variety of down-payment assistance programs
Program options for borrowers to 500 FICO score (specific guidelines with higher down-payment requirements)
2. FHA 203(k)
HUD insured home rehabilitation loan. Can be used to fund both a home’s purchase and renovations under a single mortgage. It allows home buyers who are considering purchasing a fixer-upper that requires multiple repairs and significant rehabilitation efforts to roll the cost of both the property and their project into one loan. Existing homeowners can also apply for an FHA 203(k) loan and use it as a means through which to refinance their property and fund the costs of an upcoming renovation through a single mortgage as well
3. USDA
100% Financing (No down-payment required) – Financing for primarily low-to-moderate income borrowers for homes located in HUD designated rural areas.
4. VA
A home loan guaranty benefit to help you buy, build, repair, retain, or adapt a home for your own personal occupancy. This product provides 100% financing for U.S. Servicemembers and eligible surviving spouses.
5. Reverse
Reverse Mortgages – An FHA insured loan for senior homeowners 62 and older that allows you to tap into the equity of your home and free yourself from the burden of monthly mortgage payments, to obtain needed cash to pay bills, for savings, or to purchase a new home. The repayment of the loan is deferred until the homeowner dies, sells, or moves out of the home (for more information see “Reverse” tab on upper right corner of website)
6. Down-payment Assistance 2nd mortgages.
We have a variety of State and federally chartered 2nd mortgage programs that, combined with standard FHA financing, can fund both the down-payment and loan closing costs for borrowers with little to no savings.
