- Federal Housing Administration (FHA)
- Veterans Administration (VA)
- USDA Loans
FHA, VA and USDA are all options that may allow borrowers to purchase or refinance with a limited or no down payment. For example, FHA allows borrowers to purchase with as little as 3.5% down while VA and USDA require no down payment but have stricter eligibility guidelines. All three programs allow gifts from relatives for down-payment assistance and some seller paid closing costs. FHA and USDA require upfront and monthly versions of mortgage insurance or guarantees while VA does not require any mortgage insurance.
Our Mortgage Team will be happy to answer questions to help you get moving! Click here to get started.