FHA Loans, VA Loans & Goverenment Loans

FHA Loans, VA Loans & Government Loans

FHA, VA and other Government Loans are a great way to buy a home. These loans offer incredible lending flexability and many tremendous advantages. Easier qualification makes home ownership possible even for those that have had credit issues in the past. Below is a list of benefits each loan has to offer.

FHA Loans

FHA Loans are the original First Time Buyer Loan! This loan is perfect for many different borrowers.

Chcek Out These Benefits:

Very Little Down Payment Required* (Move In For 3% Or Less)
No Income Restrictions (You can make any Amount Of Money)
No Reserve Requirements (You Don't Need Money In The Bank)
No FICO Score Requirements** (You Can Have Low FICO Scores)
Low Interest Rates (FHA Interest Rates Are The Most Competitive On The Market)
Gift Money Allowed (You Can Be Given Your Down Payment Or Closing Cost)
2 Years After Bankruptcy (Buy Faster After A Bankruptcy)
3 Years After Foreclosure (Buy Faster After A Foreclosure)
OLD Collections Are Ignored*** (No Need To Payoff Old Collections)
Recieve Up To 6% In Help Form The Seller**** (Little To No Closing Costs)
Very Low Mortgage Insurance (Pay Less In Mortgage or MIP Per Month)
Loans Up To $500,000 (San Bernardino and Riverside Counties) Loans Up To $729,750 (Los Angeles & Orange Counties) Other Counties May Vary (Loan Limits Subject To Change )
Manufactured Homes Okay***** (More Home Choices)
Non-Owner Occupants May Co-Sign (Anyone Can Co-Sign Even If They Already Own A Home)
NEW==>> Down Payment Limits To Change In June

*FHA requires 3% downpayment however the seller may help provide that down payment by contributing money to your down payment as a gift. **FHA does not have a FICO score requirement however approval is subject to underwriter discretion for credit worthiness. ***FHA ignores collections that do not effect the title that are over 2 years old if the borrower has a FICO score over 620 and are rated approved/eligible. ****FHA allows the seller to pay the buyers closing cost or down payment of up to 6% of the homes sales price. *****FHA allows the buyer to purchase manufactured homes built after June 15 1978 on a permanent foundation, where you own the land, and is at least a double wide home. OTHER RESTRICTIONS MAY APPLY. ALL GUIDELINES ARE SUBJECT TO CHANGE WITHOUT NOTICE. CALL OFFICE FOR DETAILS.

VA Loans

VA Loans are the GREAT loan for current and former military personnel (or their widows) that have very limited money saved up but still need to buy a home. VA loans allow you to move in for ZERO down and ZERO closing costs! A true 100% loan!

No FICO Score Requirement* (You Credit Score Is Not Looked At)
NO Mortgage Insurance (Qualify For More Home)
No Down Payment Required (EZ Move In)
No Closing Cost Required (You Don't Need Money In The Bank)
Widows Okay (If You Are A Widow Of A Former Veteran You May Use Apply For A VA Loan)
Loans Up To $417,000 (Get The Most Home For Your Money)
No V.A. Funding Fee (Applies To Veterans Who Are At Least 10% Disabled)
Lower Closing Costs (Easier For A Seller To Say Yes To Paying Your Closing Costs)
Manufactured Homes Okay** (More Home Choices)

*A does not have a FICO score requirement however subject to underwriter discretion of credit worthiness which includes all collections to be paid off. **VA allows the buyer to purchase manufactured homes built after June 15 1978 on a permanent foundation, where you own the land, and is at least a double wide home. OTHER RESTRICTIONS MAY APPLY. ALL GUIDELINES ARE SUBJECT TO CHANGE WITHOUT NOTICE. CALL OFFICE FOR DETAILS.

Government Loans

There are also many different kinds of government loans for first time buyers. To learn more about these kinds of loans including down payment assistance and GRANTS please click here.

Click Here for information regarding Teacher & School Facility Loan Programs.

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