Government Loans

What is a Government Loan?
A number of loan programs are sponsored by the federal government to assist American families to become homeowners. The programs are structured to insure various loan types, allowing lenders to approve loans for more people. The most popular government backed loan programs are the Federal Housing Administration (FHA) loan program and the Veterans Administration guaranteed loan program. We can help you determine if you qualify for these very helpful loan programs and walk you through the loan application process.

Federal Housing Administration (FHA) Loans

FHA loan programs are designed primarily for first-time home buyers and others with moderate incomes that have not yet been able to save the cash needed for down payment amounts. A program insurance charge is rolled into the monthly payment amount to support this program and typically ends as the loan is paid down over time. A variety of loans are offered through FHA programs, including fixed rate and adjustable rate mortgages for single-family homes, multi-family homes, condominiums and other home types.

  • Low down payments programs
  • Limited closing costs – many can be added into your loan
  • 100% of closing costs can be gifts from relatives or others
  • Ability to finance home rehabilitation and energy efficiency
  • Growing Equity Mortgages-low initial payments that grow with your income 
  • No prepayment penalties
  • Refinance programs with streamlined documentation

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