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FHA/VA Loans

A popular means for making your home purchase affordable is through an FHA/VA mortgage program. FHA mortgages help low-to-moderate-income home buyers purchase homes with low down payments and flexible qualifying guidelines. These loans are insured by the Federal Housing Administration (FHA), which sets loan limits that vary by area. With an FHA mortgage, you can use a gift or unsecured loan for down payment and closing costs. FHA/VA mortgages offer the following features.

Federal Housing Administration (FHA) Loans
Available to most first-time home buyers, FHA mortgages allow you to move into your new home with less out-of-pocket cash than required with most conventional loans. The federal government insures these loans to make home ownership affordable to people with modest means who can not afford large down payments.

Veterans Affairs (VA) Loans
Available to veterans of the armed services, active-duty personnel, reservists, and their spouses, VA mortgages require no down payment and offer some of the easiest qualifying requirements of any home loan.

Choose a FHA/VA loan if you:

  • Need a low down payment (usually three percent of the FHA appraisal value or the purchase price, whichever is lower)
  • Have limited savings and/or moderate incomes
  • Are a first-time home buyer concerned about not having enough funds for down payment and closing costs on a new home

What You Need to Know:
Contact a Mortgage Loan Officer to go over any questions you may have or call our Mortgage Call Center at 1-888-993-8754.

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