WHICH LOAN IS RIGHT FOR YOU?
Whether you are purchasing, buying or building, we have a loan option for you.
CONVENTIONAL
For those with great credit and equity or down payment
Minimum credit score of 620.
Up to 97% LTV on purchases and refinances.
Up to 80% LTV on cash out loans.
Manufactured homes allowed
Seller allowed to pay up to 3% of buyers closing costs.
Debt to income ratio of 50% allowed.
USDA RURAL DEVELOPMENT
100% financing for purchases in rural communities
Minimum credit score of 620
No money down
Income restrictions apply and vary by county.
Geographic restrictions apply as well. Must be located in a Rural community.
Refinance does not require an appraisal and can be financed up to 100% of the original appraisal value.
1% up-front fee can be financed
Monthly mortgage insurance of .35%.
No limit on seller paid closing costs.
Closing costs can be financed up to the appraised value.
Debt to income ration of 45% allowed.
FHA
For lower credit score and higher debt to income ratio
Minimum credit score of 580
3.5% down payment required
Can refinance up to 96.5% of the appraised value.
Can get cash out up to 85% of the appraised value.
1.75% up-front fee can be financed
Monthly mortgage insurance of .45% to .85%.
Manufactured homes allowed.
Debt to income ratio of 55% allowed.
Seller is allowed to pay up to 6% of buyers closing costs.
VA
100% financing for those who qualify with military service
Minimum credit score of 620.
100% financing for purchases, refinance and cash out refinance.
Up-front fee of between 0% and 3.3% can be financed.
No monthly mortgage insurance.
Must have served 90 consecutive days of active service during wartime, have served 181 days of active service during peacetime, have more than 6 years of service in the National Guard or Reserves, OR you are the spouse of a service member who has died in the line of duty or as a result of a service-related disability.
No debt to income requirements as residual income is reviewed.