AVAILABLE FINANCING PROGRAMS
We work with our customers and offer financing options to make their dream home a reality.
VA loans require no down payment, but you must be a veteran to qualify. USDA rural loans also allow zero down, but they’re limited to areas with relatively small populations and may have income restrictions. The caveats are the FHA has been increasing its insurance fees recently, which increases your monthly payments. The VA has increased its guarantee fee, as well.
If you’ve got only minimal cash to make a down payment and your credit history has a few blemishes, a federal government-backed loan is most likely your best choice. This program is designed to help first time home buyers or limited credit qualify for a loan when a conventional loan program does not meet their current needs. These loan generally come with terms as low as 4.25 % for 30 years and with minimum of 3.5% down, with approved credit.
Land and Home Loan
This type of loan allows you to finance your land and the home in a single payment. The land can be land you propose to purchase or land you already have under contract. If the land is paid in full or inherited, the land equity could be used as your down payment, of course this will depend on the land value. Additionally we have loan options to roll any site improvements (septic, water, electric, plumbing, dirt work, foundations, etc.) right into the loan also, with approved credit. These loans generally offer more favorable terms than "Home Only" loans and can be financed up to 25 years, with approved credit.
Conventional Home Only Loans
We offer "home only loans", even if the land deed is not in your name. Additionally,in most cases site improvements can also be added to the loan. Although the terms are not as favorable as a Land/Home loan, they can be financed from 20-25 years depending on the lender and past credit history.
Financing with multiple lenders are available
You need help? You can even visit us in our office location and we can discuss more.
Make an appointment! Contact us today!