An important part of the loan process is to find the loan that is a fit for you. There are lots of different loan options that you can qualify for depending on your income, credit score, and a variety of other factors. Below you can find information about each loan to help determine which loans will work for your situation. We encourage you to come in for a free consultation to discuss your situation and goals so that we can get you set up with an appropriate loan.
What Home Loan Program Is Right For You?
Conventional Loans
Who It’s For: Borrowers with good credit.
Benefits: Low monthly payments, 3% down.
Limitations: Interest rates increase with poorer credit.
FHA Loans
Who It’s For: Borrowers with moderate credit.
Benefits: Less hurdles, minimize down payment.
Limitations: Loan limits often apply.
FHA 203(K) Streamline
Who It’s For: Homebuyers wanting to remodel.
Benefits: Finance additional $ for remodelling.
Limitations: Remodel must be done in 6 months.
USDA Loans
Who It’s For: Borrowers looking to buy in rural area.
