FHA Loan:

  • 5% down
  • 30 year loan has .80% mortgage insurance
  • 15 year loan has .45% mortgage insurance
  • Impounds are required
  • Not limited to first time homebuyers
  • Must be primary residence
  • Condominium must be FHA approved

VA Loan:

Fixed Rate Loans:

  • 30, 25, 20, 15 and 10 year terms are all available with fixed rate.
  • Buy a home with as little as 5% down (primary home).
  • Refinance up to 95% of your primary home’s value.
  • Monthly payments remain the same for the entire loan term.

Adjustable Rate Loans:

  • 3/1, 5/1, and 7/1 ARM’s. Monthly payments based on a 30 year repayment schedule.
  • The rate stays fixed for the first 3, 5, or 7 years (depending on chosen term), and then adjusting annually thereafter.