FHA mortgages are insured by the Federal Housing Administration. FHA insures mortgages under more liberal guidelines than conventional financing options.
Highlights of FHA financing
- Down payment as low as 2.25%
- 15 through 30 year Terms
Maximum loan amounts are set by FHA according to the number of units and the county.
- Owner occupied only
Qualifying ratios are 33% and 45%
A willing seller may pay up to 6% of the sales price toward closing costs. Allowing you to purchase your home with Only a 3.5% investment! Ask how you can get a grant for that 3.5%.
|
VA mortgages are insured by the Department of Veterans Affairs. VA insures loans to veterans who have served and active military who are serving in the US military.
Highlights of VA financing
- 0% Down!
- 15 and 30 year Terms
- One to four unit properties
- Owner occupied only
- Qualifying ratios up to 42%
A willing seller may pay your closing costs. Allowing you to purchase your home with NO MONEY OUT OF YOUR POCKET !!!
|
One of the biggest barriers to home ownership is coming up with the cash for down payment and closing fees. Home Mortgage Network is proud to offer conventional, NO MONEY DOWN financing!
Highlights of this program are
- Financed closing fees up to 4%
- Seller paid closing fees acceptable
- Owner Occupied
- No income limits!
- Not restricted to first time homebuyers
- No PMI, Options available
- Fixed and ARM programs available
|
Jumbo mortgages are those in which the dollar amount exceeds the maximum loan amount that FNMA or FHLMC is willing to purchase. Jumbo loans are also referred to as non-conforming loans. At Home Mortgage Network we are proud to offer a variety of Jumbo loan programs.
Highlights of Jumbo financing
- No income verification
- Down payments as low as 5% Down for fixed rates
- Terms of 10, 15, 20, 25 and 30 years
- Loan amounts to $4,000,000 for single unit homes
- One to four unit properties
- No income verification available
- Primary, secondary, or investment
- Fast commitments for borrowers with excellent credit
- Fixed, ARM and Balloon mortgages available
- INTEREST ONLY loans
|
