In order to allow for such low down payments and credit scores, the FHA does require you pay a Mortgage Insurance Premium (MIP) to protect the agency in case you default. You’ll pay this once as an upfront fee at closing and then again month after month, along with your mortgage payment.
An FHA loan is popular especially among first time home buyers because they allow down payments of 3.5% for credit scores of 580+. Borrowers credit score can be between 500 – 579 if a 10% down payment is made. Contact us today to get the process started!Read More
A USDA loan is special type of a zero down payment mortgage that eligible homebuyers in rural and suburban areas can get through the USDA Loan Program and they have great interest rates to go with the. Contact us today to get the process started!Read More
The VA loan allows veterans a great loan option by using their VA benefits and come with 0% down payment and no private mortgage insurance (PMI). Interest rates are typically lower than other mortgage programs and the VA will allow higher debt..Read More
"We have been in our apartment for several years and with another child on the way we really wanted to buy a home of our own. We didn't have much money saved and didn't have great credit so we didn't think we would get approved but they were able to match us with a great loan program and get us into our own home with more room and a monthly payment that was lower than our rent! "