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Government Loans

Government mortgage loans are loans that the government makes to people who are seeking to buy a home. These loans are often referred to asĀ Federal Housing Administration (FHA) loansĀ and they are made by the Housing & Urban Development (HUD) department of the government. It is also important to understand the HUD does not actually make these loans directly to buyers to purchase their home but rather goes through the FHA program and uses approved lenders to provide loans through a variety of FHA approved insurance providers who are the ones who provide the loans.
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Mortgage Home Purchase Loans without the Hassle!

Need financing options on a home, or other real estate? Choosing a purchase loan product that matches your goals and making sure you get the best rate for your given scenario can feel like playing whack-a-mole.

We’re here to make the home loan process a whole lot easier, with tools and expertise that will help guide you along the way, starting with a FREE pre-approval letter request.

We’ll help you clearly see differences between loan programs, allowing you to choose the right one for you whether you’re a first-time home buyeror a seasoned investor.

The Home Purchase Loan Process

Here’s how our home purchase loan process works:

  • Complete our simple mortgage pre-approval letter request.
  • Receive options based on your unique criteria and scenario
  • Compare mortgage interest rates and terms
  • Choose the offer that best fits your needs

Do I Qualify?

What Are The General Requirements That One Must Meet To Qualify For A FHA Loan?

As of 2018, if a prospective home buyer wants to qualify for an FHA loan the buyer will have to have the following:

  • a FICO score of at least a 580 (3.5% down payment) - however if a person has a lower credit score of a 500-579 (10% down payment required)
  • agree to pay a Mortgage Purchase Premium (MIP) (usually adds about 0.85 of the entire loan amount annually)
  • have an income to debt ratio of at least 43% or less
  • must use this home as their primary residence
  • must have proof of steady (adequate) levels of income and employment

These loans also allow a buyer to choose between 15 and 30 year fix rates or adjustable term rates for their mortgage. The seller will be responsible for up to 6% of the value of the home in closing costs. However, for those who are struggling to pay for those closing costs right away, there are down payment grant assistance programs available and grants are also accepted.

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  • Fixed Rates
  • Adjustable Rate Mortgage (ARM)
  • Conforming Loans
  • Jumbo & Super Jumbo Loans
  • FHA, VA, & USDA Loans
  • Terms from 5 to 30 Years