Government Loans

While there are several government loans available, the two most common for home buyers are FHA LOANS and VA LOANS.

FHA Loans: HUD insures mortgage loans to help people buy or refinance their current homes with a low down payment. HUD doesn't give you the loan directly. If you're interested in a buying a home and you meet HUDcredit qualifications, you may be eligible for a low down payment of 3 percent. On a $50,000 home, that's a downpayment of $1,500, compared with $5,000 - $10,000 for most conventional loans. You also can wrap your closing costs and fees into the mortgage.

HUD-insured loans are available in urban and rural areas for single family homes and for 2-unit, 3-unit, and 4-unit properties

To get a HUD-insured loan, you need to apply to a HUD-approved bank, mortgage company, or savings and loan association for your mortgage.

VA LOANS: VA guaranteed loans are made by private lenders, such as banks, savings & loans, or mortgage companies to eligible veterans for the purchase of a home which must be for their own personal occupancy. The guaranty means the lender is protected against loss if you or a later owner fail to repay the loan. The guaranty replaces the protection the lender normally receives by requiring a downpayment allowing you to obtain favorable financing terms.

The Department of Agriculture also offers loans, with specific circumstances.

For more information on ANY of these types of loans, contact us today!

Mortgage Website Design and Tools - Demo Site Although the Loan Site Plus is easy and pretty much self-explanatory, we know there are some of you that like to "test-ride" before making that buying decision. Give us a call toll free at 877.201.3060 and we'll have a representative walk you through an actual demo account on the phone. Use the contact form below to if you would like us to contact you. We'll be happy to discuss our site packages in detail with you. First Name: Last Name: Email: Phone: Comments: