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Common Questions
Below are just a few examples of LOAN PROGRAMS.
If you'd like answers to other finanical questions, please contact me.
| PROGRAM |
MINIMUM DOWN PAYMENT |
MINIMUM FICO SCORE REQUIREMENT |
LOAN TYPE DESCRIPTION |
| FHA
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3.50% |
640 |
This program is a fully amortizing 30, 25, 20 or 15 year fixed rate mortgage or a three-year or 5 year adjustable rate mortgage, insured by the Federal Housing Administration (FHA) in conjunction with the housing and Urban Development Act of 1965 |
| VA |
0% |
620 |
This program is a fully amortizing 30 or 15 year fixed rate, or 5/1, 3/1 Treasury ARM, government insured mortgage originated for a Veteran. The VA home loan guaranty program is designed to encourage lenders to offer long-term, low-down payment mortgages by guaranteeing the lender against loss. |
| Conventional |
5% |
740 |
This program is a conventional loan and is offered on fixed rates or adjustable. |
| Conventional |
20% |
620 |
This program is a conventional loan and is offered on fixed rates or adjustable. |
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