Loan Programs

While there are many different types of loan programs, most of our clients choose one of these three options:

Conventional Loans

Conventional loans are typically 30-year loans with a fixed rate. These loans often require borrowers to provide at least a 20% down payment and generally offer lower interest rates than non-conventional loans. This is a great option for borrowers who have the capital necessary for a significant down payment.

FHA Loan

These loans are backed by the Federal Housing Authority and are available to all qualified buyers. FHA loans are great options for first-time homebuyers, home buyers who can’t afford a full down payment, or borrowers with less-than-perfect credit. When you choose an FHA loan, you can select between loans with fixed or variable rates, so it’s important to work with a loan officer who can suggest which one best fits your needs.

VA Loan

VA Loans are backed by the department of Veteran Affairs and are available for buyers who are currently serving in the military, eligible veterans, and some spouses. These loans offer variable and fixed interest rates, and if you qualify, you have the option of a minimal down payment or none at all. VA Loans include additional eligibility requirements over Conventional or FHA loans, so check with your Loan Office to see if you qualify.