Loan Programs

Conventional (Fannie Mae & Freddie Mac) Loans

• As Low as 3% Down Payment
• Down Payment Assistance Available (Restrictions Apply)
• 620 Minimum Credit Score
• Loan Terms from 10 to 30 Years
• Down Payment Can be Gifted
• Monthly Mortgage Insurance
• Not Required with 20% or More Down Payment
• Automatically Cancels at 78% LTV (Loan-to-Value)
• $726,200 Maximum Loan Amount

FHA (Federal Housing Administration) Loans

• 3.50% Down Payment
• Down Payment Assistance Available (Restrictions Apply)
• 580 Minimum Credit Score
• Loan Terms from 10 to 30 Years
• Down Payment Can be Gifted
• 1.75% Upfront Mortgage Insurance Premium
• Financed into Loan Amount
• 0.55% Monthly Mortgage Insurance
• Remains for Life of Loan (if Down Payment is < 10%)
• $472,030 Maximum Loan Amount

FHA 203k (Home Renovation) Loans

• 3.50% Down Payment
• Streamline 203k Loan
• Use for Cosmetic and Common Repairs up to $35,000
• Standard 203k Loan
• Use for Extensive Repairs Over $5,000
• 620 Minimum Credit Score
• Down Payment Can be Gifted
• 1.75% Upfront Mortgage Insurance Premium
• Financed into Loan Amount
• 0.55% Monthly Mortgage Insurance
• Remains for Life of Loan (if Down Payment is < 10%)
• $472,030 Maximum Loan Amount

VA (Veterans Affairs) Loans

• Zero Down Payment – 100% Financing
• 580 Minimum Credit Score
• Loan Terms from 10 to 30 Years
• 2.30% Upfront Mortgage Insurance Premium (First-Time Use)
• Financed into Loan Amount
• Will Vary Depending on Down Payment and Subsequent Use
• No Mortgage Insurance
• No Maximum Loan Amount

First-Time Homebuyer Loans

• Down Payment Requirements
• Conventional – 3% (Can be Gifted)
• FHA - 3.50% (Can be Gifted)
• VA - 0% (Zero Down Payment)
• USDA – 0% (Zero Down Payment)
• Down Payment Assistance
• Conventional – Up to 3% (Restrictions Apply)
• FHA – Up to 3.50% (Restrictions Apply)
• Credit Score Requirements
• Conventional – 620+
• FHA – 580+
• VA – 580+
• USDA – 640+

USDA (Rural Development) Loans

• Zero Down Payment – 100% Financing
• 640 Minimum Credit Score
• 1.00% Upfront Mortgage Insurance Premium
• Financed into Loan Amount
• 0.35% Monthly Mortgage Insurance
• Remains for Life of Loan
• Income and Property Areas Restricted

Investment Property Loans

• 20% Down Payment
• 620 Minimum Credit Score
• DSCR (Debt Service Coverage Mortgage)
• Qualify Based on Rental Income

Jumbo Loans

• As Low as 10% Down Payment
• 680 Minimum Credit Score
• Loan Terms from 10 to 30 Years
• No Mortgage Insurance Option
• Loan Amounts Over $726,200