Home Loan Options
Conventional Loan
The Conventional Loan is an ideal choice for individuals with a strong credit history. With this type of loan, you can secure your dream home with a down payment as low as 3%. The maximum loan amount for the Conventional Loan is set at $726,000, and with a 20% down payment you won’t need to worry about additional mortgage insurance costs. This option provides flexibility and affordability for borrowers with a good credit standing.
FHA Loan
The FHA Loan is an excellent option for first-time home buyers seeking versatility and accessibility. With a modest 3.5% down payment, it offers an accessible path to homeownership. This loan stands out with its more flexible qualifying criteria and less stringent guidelines. Additionally, the FHA Loan permits sellers to credit up to 6% of the home’s price, making it an attractive choice for those entering the real estate market.
VA Loan
The VA Loan is a specialized mortgage program exclusively available to veterans, service members, and their survivors. Offering 100% financing, this loan allows eligible individuals to purchase a home without a down payment, greatly facilitating homeownership opportunities for those who have served our county. Notably, the VA Loan eliminates the need for mortgage insurance, and qualified borrowers can benefit from a seller credit of up to 4%, further enhancing the financial advantages of this loan option.
Jumbo Loan
The Jumbo Loan is a unique financing solution designed for individuals who require loan amounts that exceed the conventional loan limit. While it offers the potential to secure substantial funding, it comes with more stringent credit guidelines, ensuring that borrowers meet higher credit standards. Additionally, Jumbo Loans typically require larger down payments, making them a suitable option for those who are well-prepared to invest in high-value properties and have a strong credit profile.
