Purchase

Purchase

Waiting to save for a down payment? We have Down Payment Assistance!

Are you a Veteran? A VA loan might be right for you.

Looking to avoid Mortgage insurance and have money to put down? Use our Conventional loan products. 

VA

Loans Specific to Veterans. These often offer the best deal for past military personnel both active and retired qualify.

FHA

Standard home loans for all standard borrowers. These loans typically have an MIP/PMI (mortgage insurance provided/required by the lender) up until 80% of loan to value is met. MIP/PMI may be annulled through a refinance once the loan to value ratio has hit 80%, MIP/PMI is for the life of the loan otherwise.  

Conventional

Requires a 20% down payment of the total loan amount. Conventional eliminates the cost of MIP/PMI  (mortgage insurance) payments included in most mortgages. This loan results in more cash towards the loan principle monthly and less towards interest. 

What type of Rate & Term?

Fixed Rates

Fixed Rate Mortgages – Generally have a higher standard interest rate, however this rate is locked in for the life of the loan. These rates are only subject to change if the borrower refinances to a different loan type or rate. The borrower may see changes in their payment amount due to county taxes issued by the city/state in which they reside, not the mortgage lender as the rate stays the same for the life of the loan. 

Arm Rates

Adjustable Rate Mortgages – Generally ARMs are a lower rate than fixed but has an initial period where the rate can not adjust. Typical arm rates are a 3/1 or 5/1 arm, this meaning the initial rate is locked in for the first 3-5 years. After the initial rate period the interest rate my adjust up to 1% per calendar year. . 

30 or 15 year?

A 30-year mortgage is the most common term rate. This means you’ll be paying off your mortgage over a period of 30-year or 360 month term. This helps keep mortgage costs down. principle monthly and less towards interest. 

Those with a lower mortgage amount or higher income enjoy to double-down and pay off the full mortgage amount in half the time at 15-years. This allows borrowers to pay off their home in less time and pay less interest for the life of the loan. principle monthly and less towards interest.