Loan Types

  A conventional loan is a mortgage loan, which is not insured or guaranteed by any agency of the state or federal government. These fixed rate loans are available in 10, 15, 20 and 30 year terms.  

  FHA Loans are loans insured by the U.S. Department of Housing and Urban Development. FHA loans are a popular choice with first time home buyers and only require 3.5% down. 

 VA loans are guaranteed by the Department of Veterans Affairs and made eligible to veterans, those currently serving in the military or reserves, and often have lower to no down payment requirements. 

  Rural development loans are zero down loans insured by the United States Department of Agriculture to promote homeownership in less-dense communities.   

A jumbo loan is a type of financing that exceeds the limits set by the Federal Housing Finance Agency and cannot be purchased, guaranteed, or securitized by Fannie Mae or Freddie Mac. Homeowners must undergo more rigorous credit requirements than those applying for a conventional loan. Jumbo loans are typically in excess of $647,200.00.