FHA Loan

Federal Housing Administration, or FHA, is an agency of the Department of Housing and Urban Development, also known as HUD. The FHA insures qualified mortgages so that all income level households can have access to affordable mortgage loans. They have less stringent credit qualifications than some other loans.

  • 96.5% Financing
  • 55% Debt to Income Ratios
  • Seller can pay buyers closing costs up to 6%.
  • 3.5% down payment can be a gift.
  • Please Contact Us for more information on the loan limit for your county.

FHA $100 Down

Federal Housing Administration, or FHA, is an agency of the Department of Housing and Urban Development, also known as HUD. The FHA insures qualified mortgages so that low to moderate income households can have access to affordable mortgage loans. They have less stringent credit qualifications than some other loans. These loans are only available on FHA foreclosures and the property has to be insured by FHA.

  • Up to 99.99% Financing Available
  • 55% Debt to Income Ratios
  • Seller can pay buyer’s closing costs up to 6%.
  • $100 Down payment
  • Repair escrow up to $5,000
  • Please Contact Us for more information on the loan limit for your county.

FHA 203K Loan

Federal Housing Administration, or FHA, is an agency of the Department of Housing and Urban Development, also known as HUD. The FHA insures qualified mortgages so that low to moderate income households can have access to affordable mortgage loans. They have less stringent credit qualifications than some other loans. The streamline 203K is intended to help facilitate, uncomplicated improvements or repairs to a home that does not require plans, consultants, engineers, architects, etc. A consultant is required on each loan. The consultant is a trained HUD inspector who supervises the entire project.

  • The minimum cost of repairs is $5,000
  • Up to $35, 000 max in rehab costs
  • Max of 3 contractors are to be used for repairs
  • Contractors will be paid 50% of the invoice at closing
  • The remaining money owed will be paid after the work is completed by the contractor
  • Please Contact Us for more information.

VA Loan

A mortgage that is guaranteed by the Department of Veteran’s Affairs and made available to any qualified Veteran, Active Duty MIlitary Personnel, some members of the Reserve and National Guard, and some qualifying widows. They are made available to a borrower with a low down payment.

  • 100% Financing
  • 55% Debt to Income Ratios
  • Seller can pay all of the buyer’s closing costs
  • No down payment required
  • No monthly mortgage insurance
  • VA Eligibility must be current
  • Please Contact Us for More Information

Conventional Loan

A conforming mortgage meets the requirements to be eligible for purchase or securitization by one of the government-sponsored enterprises such as Fannie Mae, Freddie Mac and Ginnie Mae. These requirements include the size of the loan, type and age. These requirements change from year to year and vary by state.

  • 95% Financing
  • Up to 50% Debt to Income Ratios
  • On 90.00% and above, Seller can pay up to 3% of buyers closing costs
  • On 89.99% and below, Seller can pay up to 6% of buyers closing costs
  • Investment Property, Seller can pay up to 2% of buyers closing costs
  • 5% down payment required and has to be from the buyer’s own funds
  • No MI on loans at or below 80% of purchase price.
  • Please Contact Us for More Information

USDA Loan

(USDA) United States Department of Agriculture, other known as Rural Development loans are primarily used to help low – middle income individuals or households to purchase homes in rural areas. Applicants for loans may have an income of up to 115% of the median income for the area. Applicants must have reasonable credit histories.

  • 100% Financing
  • Up to 41% Debt to Income Ratios
  • Seller can pay up to 6% of buyer’s closing costs
  • No down payment required
  • Much Lower monthly MI than other loans
  • Please Contact Us for property and income eligibility

THDA Loan

(THDA) Tennessee Housing Development Agency offers 30 year fixed rate mortgages and downpayment assistance to first-time homebuyers. A first time homebuyer is considered anyone who has not owned his or her principal residence in the last three years. Borrowers must have satisfactory credit and the home must meet certain conditions. THDA loans are designed for low to moderate income borrowers. There are three different THDA loan programs, the Great Rate Mortgage Program offers a low interest rate loan, the Great Advantage and Great Start offer loans at slightly higer interest rates, but offer assistance with downpayment and closing costs.

  • 100% Financing available
  • Up to 45% Debt to Income Ratios
  • Seller can pay up to 6% of buyer’s closing costs
  • No down payment required
  • Has monthly mortgage insurance
  • Please Contact Us for the county income limits and maximum sales price allowed

Jumbo Loan

Any mortgage that exceeds the limits set by Fannie Mae, Freddie Mac and Ginnie Mae.. These loan amounts are typically above $417,000. These mortgages have a higher interest rate than a conventional mortgage.

  • Up to 80% Financing available
  • Up to 45% Debt to Income Ratios
  • Seller can pay up to 3% of buyer’s closing costs
  • Must have 20% downpayment
  • No monthly mortgage insurance
  • Please Contact Us for more details