Helpful Mortgage And Real Estate Advice

Home Loan Programs

Below is a brief description of your mortgage options and ways to get the process started:

FHA Mortgage Loans

One of the housing programs created with the New Deal under President Roosevelt’s terms was the Federal Housing Administration, or FHA. To calm the risky, economic times, the FHA was formed to back lenders when borrowers defaulted on loans.

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Reverse Mortgage Senior Loans

Backed by the FHA, or Federal Housing Administration, reverse mortgages are a specialized loan program meaning to give older homeowners a chance to access needed equity in the property.

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203k Rehab Loans

The financing for this loan will include the purchase price, as well as the improvements you are either required to do to be able to live in the home, or that you want to do, such as upgrade the kitchen.

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VA Mortgage Loans

After serving his or her country, a veteran may apply for a VA Home Loan, which features a small down payment and low interest rate. Originally created as WWII was coming to a close, a VA Home Loan is guaranteed by the U.S. Department of Veterans Affairs (VA).

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USDA Mortgage Loans

The United States Department of Agriculture (USDA) Home Loans comes with a few special financing features with 100% financing, usually no down payment required.

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HARP Refinance Loans

President Obama’s Making Home Affordable Program (HARP) was formed to help struggling homeowners refinance their properties to remain at home without fear of foreclosure.

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