A conventional mortgage refers to a loan that is not insured or guaranteed by the federal government. A conventional, or conforming, mortgage adheres to the guidelines set by Fannie Mae and Freddie Mac. It may have either a fixed or adjustable rate.

FHA Loans

More flexible on debt to income ratios, FHA offers financing with as little as 3.5% down.  An FHA loan is a mortgage insured by the Federal Housing Administration. Borrowers with FHA loans pay for mortgage insurance, which protects the lender from a loss if the borrower defaults on the loan.

USDA Loans

USDA Loans. USDA loans are mortgages backed the U.S. Department of Agriculture as part of its USDA Rural Development Guaranteed Housing Loan program.  0 down payment, for properties outside major metropolitan areas. Income restrictions apply.

VA Loans

Most members of the military, veterans, reservists and National Guard members are eligible to apply for a VA loan.  Spouses of military members who died while on active duty or as a result of a service-connected disability may also apply.  The VA Loan is a guaranty program to help returning service members purchase homes.

Home Refinance

Getting a new mortgage to replace the original is called refinancing. Refinancing is done to allow you to obtain a better interest term and rate.  Improve your cash flow or lower your monthly payment. We can advise you if it makes sense for you to refinance.