The Federal Housing Administration offers FHA loans to help more borrowers obtain home ownership. FHA loans can qualify borrowers with lower credit scores or more debt. Mortgage insurance is required on these loans. There is an upfront premium charged when you open the loan as well as an annual premium that can be paid monthly.

The U.S. Department of Veteran Affairs offers to help veterans, service members, and elgible surviving spouses become homeowners. There is no down payment required for these loans. VA loans can offer lower interest rates than any other loan. There are limited closing costs and no need for Private Mortgage Insurance (PMI). Clients who fit this category can use this type of loan multiple times throughout their lifetime, if they wish to.

Unlike a fixed rate mortgage, adjustable rate The U.S. Department of Agriculture offers these loans to people who are looking to purchase a property in a rural area. USDA loans have no down payment necessary. They have a lot of eligibility requirements so please speak with me to see if you can qualify.