Buying a Home

CONVENTIONAL FIXED RATE LOANS

A fixed rate mortgage loan provides you with the security of a monthly principal and interest payment that never changes because the interest rate is locked in for the entire loan term. The only change could be an increase or decrease in the amounts collected for mortgage insurance, real estate taxes, or property insurance (escrow payments).

Terms from 10 – 30 years
Programs with no Private Mortgage Insurance (PMI)
Complimentary pre-qualification

ADJUSTABLE RATE MORTGAGES (ARM)

With an ARM, you could take advantage of a lower interest rate initially. The interest rate changes at predetermined intervals based upon the Treasury index. The change in interest rate will also affect how much your monthly principal and interest payments will be.

Note rate may change annually after initial term of 3, 5 or 7 years
Monthly payment is lower in the early years of the mortgage
To minimize interest rate increases, ARM loans offer the protection of annual and lifetime rate caps

FIRST-TIME HOME BUYER PROGRAM

If you’ve never bought a home before or it’s been a long time, you could qualify for our First-Time Buyer Program.

Special grant funding for down payment and closing cost assistance
Affordable monthly payments
Lower closing costs and a very low down payment
No income restrictions

FHA LOANS

The Federal Housing Authority (FHA) offers affordable mortgage loan options to qualified home buyers. FHA loans are insured by this government agency. There are some limits to loan amounts but they’re reasonable enough to accommodate most buyers.

Minimum down payment
Down payment and closing costs may be gifted
Seller may contribute towards buyer closing costs

VA LOANS

The Veterans Administration (VA) is a mortgage loan program for individuals qualified by military service or other entitlements. VA Loans are backed by this government agency. There are some limits to loan amounts but they’re reasonable enough to accommodate most buyers.

Zero down payment
No private mortgage insurance (PMI) requirement
Easier credit qualifying

USDA LOANS

The U. S. Department of Agriculture (USDA) sponsors this mortgage loan program for development in rural areas. Eligible borrowers* in rural areas can qualify for fully-financed mortgage loans.

No down payment required
Not limited to first time home buyers
Flexible credit guidelines
Closing costs may be gifted
New or existing homes
No loan limits (with qualifying income)

BUYING A HOME

Congratulations on your decision to buy a new home! There are many important things to consider throughout the process, especially if you're a first-time homebuyer.