Loan Types

 
Conforming Loans (amount less than or equal to $417,000)
30-, 25-, 20-, 15- and 10-year terms are all available with fixed rate.
Buy a home with a low down payment (primary home).
Refinance up to 95% of your primary home's value.
Monthly payments remain the same for the entire loan term.
3/1, 5/1, and 7/1 ARM's. Monthly payments based on a 30 year repayment schedule.
Provides veterans with flexible lending options and loan security.
The rate stays fixed for the first 3, 5, or 7 years (depending on chosen term), and then    adjusting annually thereafter.
The interest rate remains fixed for 3, 5 or 7 years, depending on the term.
Interest rate will adjust every year depending on the current index and margin.
First 10 years - monthly payments of interest only on the principal balance.
A flexible payment amount lets you control your cash flow in any given month.
 
Super Conforming Loans (amount $417,000 to $625,000)
Monthly payments remain the same for the entire loan term.
Buy a home with a low down payment (primary home).
Refinance up to 95% of your primary home's value.
Simple and easy to understand.
Monthly payments based on a 30 year repayment schedule.
Provides veterans with flexible lending options and loan security
The rate stays fixed for the first 5 years, and then adjusting for the remaining 25 years.
 
Jumbo Loans (amount $417,000 or greater)
Monthly payments remain the same for the entire loan term.
Buy a home with a low down payment (primary home).
Refinance up to 95% of your primary home's value.
Simple and easy to understand.
Monthly payments based on a 30 year repayment schedule.
Provides veterans with flexible lending options and loan security.
The rate stays fixed for the first 5 years, and then adjusting for the remaining 25 years.
 
Government Loans
low down payment on purchase.
Minimum credit score usually 620.
Post-bankruptcy qualifying - 2 years after.
Post-foreclosure qualifying - 3 years after.
Competitive interest rates that are routinely lower than conventional rates.
Sellers can pay up to 6 percent of closing costs and concessions.
Higher allowable debt-to-income ratios than for many other loans.
No down payment required on purchase.