Different Loan Programs:

VA loan

A VA loan offers the following benefits to service members looking to purchase or refinance a home:

• Low- or no-down-payment options
• Financing of VA funding fee¹
• Unlimited seller contribution to buyer's closing costs
• Gift funds allowed
• Allows for limited income and credit history
  

Recommended For
A VA loan might be right for you if you are:

• A retired veteran, active duty military, National Guard or reservist buying or refinancing a home
• Would like to make a low down payment
• Are interested in 100% financing¹
• Lack credit history
• Have income limitations
  
  

Affordable Housing loans

Affordable Housing loans offer first-time home buyers, buyers with limited credit history, and buyers with lower incomes the ability to own their own homes.

Benefits

Affordable Housing loans offer home buyers the following benefits:

• Low down payment
• Alternate credit histories acceptable
• Down payment can be combined with gifts or grants
  

Recommended For

An Affordable Housing loan may be right for you if you:

• Are a first-time home buyer
• Have limited employment history
• Have limited or alternative credit history
• Are concerned about qualifying income or earn less than the median income
  
  
  Federal Housing Administration (FHA)

Federal Housing Administration (FHA) loans are offered in conjunction with the U.S. Government to help home buyers overcome many of the obstacles to owning their own homes.

Benefits

FHA loans offer home buyers the following benefits:

• Low down payment
• Closing costs can be funded by gifts or grants
• No cash reserves needed
• Non-occupying co-borrowers are allowed
• Loan may be fully assumable depending on loan program
  

Recommended For

An FHA loan may be right for you if you:

• Are a first-time homebuyer
• Lack a sufficient down payment, or plan to use gift or grant monies for down payment assistance
• Lack credit history
• Are concerned about qualifying income
  

Property Types

The following property types are eligible for an FHA loan:

• Single family homes
• Townhomes
• Condos
• Doublewide manufactured homes on permanent foundations
  

Rural Housing loans

Rural Housing loans are designed to assist borrowers in qualifying rural areas to become homeowners. These loans offer a variety of unique and attractive features for qualifying borrowers.

Benefits

Rural Housing loans offer the following features to home owners:

• 102% financing options
• First-time home buyers and previous homeowners eligible
  

Recommended For
A Rural Housing loan may be right for you if you are:

• Purchasing a residence located in a qualifying rural area that may be attached to limited multiple acreage
• Concerned about qualifying income*
• Concerned about funding a down payment
  

Property Types

The following types of property are eligible for Rural Housing Loans:

• Single family homes
• Townhomes
• Condos
• Doublewide manufactured homes on permanent foundations