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Loan Options

 

FHA, 203K, USDA, VA, CONVENTIONAL

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"Who's On First...What's On

Second...And I Don't Know Is On

Third."

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Are you confused with all the different types of loan programs? Don't fret. I'll go over these in detail to make sure you get the loan that is right for you.

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DON'T WORRY...I'LL PIECE IT TOGETHER FOR YOU.

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FHA / 203k

 

Federal Housing Administration (F.H.A.)

Backed by the Federal Government, these loans were designed to make housing more affordable.

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F.H.A. programs allow a borrower to buy a home with a low down payment. In addition, your down payment can be provided to you through a gift from a relative.

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F.H.A. 203k

The FHA 203k loan is a loan that allows you to purchase a home in need of repairs. With this type of loan the lender will finance you for the total of the purchase and repairs that are needed.

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CONVENTIONAL

 

 

Conventional Loans:

A conventional loan is a loan that's not guaranteed or insured by the federal government. A conventional loan can, however, follow the guidelines of government sponsored enterprises (GSE's) like Fannie Mae or Freddie Mac.

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Both Fannie Mae and Freddie Mac are stockholder-owned corporations and are not part of the federal government.​

USDA

 

 

USDA / Rural Area Loans:

These types of mortgage loans are administered by the United States Department of Agriculture Rural Development Program.

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A USDA loan may be able to allow you to purchase a home with no money down.

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With changes in Congress, this program is now an excellent opportunity for any individual who lives or wants to move to more rural parts of the country.

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There are income limits, and location guidelines within the program. We can discuss this in more detail if you are purchasing a home in a rural area.

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VA

 

 

V.A. Loans:

This type of loan is also insured by the Veterans Administration, and is available to people who qualify for veterans benefits.

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This program may allow the veteran to buy or refinance a home with zero down and no monthly mortgage insurance payments if they qualify via their V.A. Certificate of Eligibility.​

Iván Reyes - Copyright © 2025 - All Rights Reserved    NMLS #272687

Serving 49 states.

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