Loan Programs


Traditional loan programs that usually require at least 5% down and offer competitive interest rates. Documentation and good credit are necessary.

Reverse Mortgages

Reverse mortgages are a special type of home loan that lets a homeowner convert the equity in his/her home into cash. They can give older Americans greater financial security to supplement social security, meet unexpected medical expenses, make home improvements, and more.

Jumbo Loans

This is a loan for an amount greater than the FNMA/FHLMC government mandated maximum and is considered a specialized loan product. Jumbo loan terms are 30 and 15 year fixed rate and competitive ARM terms of 3,5,7, 10 year products with full document, alternate documentation and limited documentation. Cash out and No cash out refinance are allowable.

Renovation (203K) Loans

The Section 203(k) program is HUD's primary program for the rehabilitation and repair of single family properties. The program may be utilized with a purchase or refinance and allows for up to 6 months of escrowed mortgage payements, if the property is uninhabitable.

The 203K program includes full and streamline options. A streamline is utilized for simple repairs/renovations up to $35,000. Additional qualifications apply and follows FHA guidelines.

FHA Mortgages

Backed by the Department of Housing and Urban Development, this mortgage offers the borrower the ability to make as little as 3% down payment – and they can even finance “allowable” closing costs. Seller can contribute up to 6% of the purchase price to the buyer towards closing costs in certain situations.

VHDA Mortgages

VHDA offers a variety of home loan options designed to meet the needs of Virginia's homebuyers.

VA Mortgages

Backed by the U.S. Department of Veterans Affairs, it is similar to FHA except that you have to be a qualified Veteran or military person. The Department of Veterans Affairs does not directly originate VA loans; instead, they establish the rules for those who may qualify, dictate the terms of the mortgages offered and insure VA loans against default.

USDA Programs

No Down Payment Required. The USDA program allows buyers to purchase homes for 100% of the appraised value of the property. The difference between appraisal and purchase price are to be used toward closing costs.

No Monthly Mortgage Insurance. The USDA program does not have high cost monthly mortgage insurance for borrowing 100%. Instead, USDA charges a “Guarantee Fee” of 3.5% of the loan amount, which can be added back into your loan amount.

Competitive 30-Yr Fixed rates. The USDA program is a 30-yr fixed rate program. Payments are PITI (principal, interest, taxes and insurance) and are very competitive with the current market.

Flexible Credit Guidelines. USDA takes very seriously the home-buying initiative. There is no minimum credit score for the program; however, there is a flexible credit criteria.

Homebuyer Eligibility. This is not just a program for first-time homebuyers. It is for anyone purchasing a primary residence when the property qualifies and income level is eligible. USDA also allows you to own another property and use this purchase program.

Refinancing Available. Refinance USDA loans to USDA loans at 30 year-fixed rate loans.

Other financing alternatives are available.

*Requirements include, but are not limited to: Household income must not exceed the adjusted income limit for the area. Must be a citizen, permanent resident, or qualified alien.