A home where you can bring it all.

Conventional

Down payment: Conventional loans usually require a down payment of at least 3% to 20% of the home's purchase price, depending on the lender and borrower's financial situation.

Private Mortgage Insurance (PMI): If the down payment is less than 20%, borrowers may need to pay for PMI to protect the lender in case of default. However, once the loan-to-value ratio reaches 80%, PMI can be canceled.

Flexibility: Conventional loans offer more flexibility in terms of property types and usage. They can be used for primary residences, second homes, and investment properties.

No upfront funding fee: Unlike some government-backed loans, conventional loans do not require an upfront funding fee, which can save borrowers money at closing.

Faster processing: Conventional loans often have faster processing times compared to government-backed loans, as they typically involve fewer bureaucratic steps.

FHA

Lower down payment: FHA loans require a minimum down payment of 3.5% of the home's purchase price, which can be a more affordable option for borrowers who don't have a large amount of savings.

Lower credit score requirements: FHA loans generally have more lenient credit score requirements compared to conventional loans. Borrowers with a credit score as low as 500 can qualify with a 10% down payment, while a minimum score of 580 is typically required for a 3.5% down payment.

Flexible income sources: FHA loans consider various sources of income, such as part-time jobs, overtime, bonuses, and even non-employment income like alimony or child support, which can help borrowers qualify.

Closing cost assistance: FHA loans allow the seller, lender, or even a family member to contribute towards the borrower's closing costs, making it easier for buyers to afford the upfront expenses.

Home Ready

Low down payment: HomeReady loans offer a low down payment option, with as little as 3% of the home's purchase price required, making homeownership more accessible for buyers with limited funds.

Lower credit score requirements: HomeReady loans may accept lower credit scores compared to traditional conventional loans, allowing borrowers with slightly lower credit scores to still be eligible for financing.

Flexible property options: HomeReady loans can be used for a variety of property types, including single-family homes, townhouses, and certain manufactured homes, providing flexibility for borrowers looking to purchase different types of properties.

Non-occupant borrowers: HomeReady loans allow income from non-occupant borrowers, such as parents or relatives, to be considered when qualifying for the loan, which can be helpful for buyers who need additional income support.

We offer tailored solutions, personalized guidance, and a wealth of knowledge to help you make informed decisions on your path to homeownership!