Whether you are a first time home buyer, a move-up buyer, or looking to refinance your current mortgage, we have you covered.
We are a mortgage website with information about mortgage programs, mortgage rates, as well as real estate tips. Our blog posts are aimed at consumers looking for detailed information on these topics and to help guide you as you journey through the mortgage process.
With 17 years of mortgage experience, we have been connecting consumers with a Loan Officer licensed in their state for many years.
Our branch is licensed in the following states: Alabama, Arizona, Florida, Georgia, Illinois, Indiana, Iowa, Kentucky, Louisiana, Michigan, Minnesota, New Jersey, North Carolina, South Carolina, North Dakota, Oregon, Tennessee, Texas, Virginia, Washington, and Wisconsin
Government Loans: FHA, VA, and USDA Rural Housing
These Government programs are designed to enable people to buy a home with little or nothing as a down payment! If you are a first time home buyer, if you are looking to make a low or no down payment, or if you are a veteran, the government may be able to help you with a purchase or refinance!
Check out these great mortgage programs:
FHA Mortgage Loans
The Federal Housing Administration (FHA) is a government organization that oversees the rules and guidelines for their mortgages. FHA does not make loans but they approve lenders, like us, to make loans under the FHA approval. These loans are great for first time home buyers.
The down payment is minimaland the credit requirements are more lenient compared to other types of loans. In addition, the down payment money can be a gift from a loved one, making it possible to buy a home with no out of pocket expense for the down payment.
Along with the traditional purchase program, FHA also offers refinance options. Take a look below to learn more about the various options, plus some additional state specific information:
- FHA Purchase – information and guidelines for an FHA purchase loan
- FHA Streamline Refinance – existing FHA mortgage can be refinanced with reduced paperwork and no appraisal
- Wisconsin FHA– state-specific information for Wisconsin residents looking to buy a home using the FHA program. View Wisconsin FHA loan limits by county
- Illinois FHA– state-specific information for Illinois residents looking to buy a home using the FHA program. View Illinois FHA loan limits by county
- Minnesota FHA– state-specific information for Minnesota residents looking to purchase a home with an FHA loan. View Minnesota FHA loan limits by county
- Florida FHA– state-specific information for Florida residents looking to purchase a home with an FHA mortgage. View Florida FHA loan limits
FHA program information
VA Mortgage Loans
The Veterans Administration (VA) works similar to FHA. They do not offer mortgage loans but approve lenders to offer VA financing. People who have served in the military during wartime, peacetime, and even just in the reserves can be eligible for the VA mortgage.
The VA programhas ano money down feature, allowing the veteran to buy a home without saving as much money. The credit requirements can be more lenient as long as the other eligibility requirements are met.
See AlsoThe Differing Millennial Outlooks on Personal Finance | LendEDUHow I Paid Off $89,000 of Debt in 18 MonthsTop 4 Tips To Getting Rid of Debt! - Joyfully PrudentUSDA Home Loans Zero Down Eligibility; Qualify in 2024Besides veterans that have served in the military, it is also possible for the widows of veterans and the spouse and children of active-duty personnel to also qualify for the VA mortgage.
Please Note: The VA mortgage program is available to eligible Veterans, Reserve and national guard members (called to active duty), active duty servicemembers, current Reserve and guard members (after six years of creditable service), and certain surviving spouses.
- VA Purchase– enjoy the privilege of no down payment loans for qualified veterans and reservists
- VA IRRRL Streamline Refinance – allows current VA home loan customers to refinance to a lower rate with reduced paperwork
- VA Refinance (Non-Streamline)– Veterans canrefinance an existing loanup to the appraised value
- Jumbo VA Mortgage – designed to help purchase loans priced over $548,250
- Wisconsin VA– state-specific information for Minnesota residents looking to buy a home using the VA mortgage program.
- Minnesota VA– state-specific information for Minnesota residents looking to buy a home using the VA mortgage program.
- Illinois VA– state-specific information for Illinois residents looking to buy a home using the VA mortgage program.
- Florida VA– state-specific information for Florida citizens looking to buy a home using the VA mortgage program.
VA program information
USDA Rural Housing Mortgage Loans
The United States Department of Agriculture (USDA) is another government group that offers home loans. Unlike the FHA and VA offices, the USDA actually has a hand in providing the loans. The USDA will approve lenders to offer mortgages. However, all loan applications must be sent to the USDA for underwriting in order for the loan to be approved.
The USDA Rural Housing Mortgage offers loans with no down payment requirement. In addition, the closing costs can be included with the loan as long as the total amount borrowed does not exceed the appraised value of the property. The USDA loan can be used for a purchase or a refinance. Refinances also allow loans up to the appraised value.
Please Note: For all USDA mortgage loans, property and income restrictions apply.
- USDA Purchase–you don’t have to live out in the country to qualify for a USDA Rural Housing loan
- USDA Refinance– USDA to USDA only refinance program
- Wisconsin Rural Development – state-specific information for Wisconsin residents looking to buy a home using the USDA mortgage program.
- Illinois Rural Development– state-specific information for Illinois residents looking to buy a home using the USDA mortgage program.
- Minnesota Rural Development– state-specific information for Minnesota residents looking to buy a home using the USDA program.
- Florida USDA Rural Development – state-specific information for Florida residents looking to buy a home using the USDA mortgage program.
USDA Rural Housing program information
Conventional Loans and Guidelines
We also offer conventional loans! For people with strong credit history, stable employment, and a small down payment this loan is a perfect fit.
In addition to a conventional loan used to purchase a home we also have the following programs available:
- How To Buy A Home For Your Elderly Parents or Disabled Adult Child – guidelines that allow people to buy a home for their elderly parents or disabled adult child as an owner-occupied property
- Investment Properties–basic rules for buying an investment property
- Fannie Mae HomeReady® Mortgage – low down payment conventional purchase loan
- Freddie Mac Home Possible – loans aimed at people with lower incomes;lower mortgage insurance and down payment requirements
- Lender Paid Mortgage Insurance – for a nominal fee the lender can pay the Mortgage Insurance on your behalf
Conventional program information
Refinance
Cash-out, debt consolidation, or lower your existing rate
If you currently own a home and find yourself in need of refinancing we have a program to fit your needs. All of the government programs mentioned above, along with conventional loans, offer some type of refinance option. If you simply want to lower your interest rate in order to save money on your mortgage payback you can choose from a wide range of loans.
If you need to use the equity in your home to pay off other debt then a consolidation loan is a good choice.
- Refinance Options– there are a variety of reasons to refinance – Let us help you with your goals!
Refinance program information
Contact us or Apply Online today for a complete purchase or refinance assessment.
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