1) FHA Loans (Government Insured) available to everyone
2) VA Loans (Government Guaranteed) available to those with VA eligibility
1) FHA Loans (Government Insured) are available to everyone
FHA mortgage loans are issued by federally qualified lenders and insured by the U.S. Federal Housing Authority, a division of the U.S. Department of Housing and Urban Development.
FHA loans are an attractive option, especially for first-time homeowners:
- Generally easier to qualify for than conventional loans.
- Lower down payment requirements.
- Cannot exceed statutory loan limits.
We are conveniently located in Northern Virginia in the City of Fairfax. We offer a full line of FHA Loans for all of your purchase or refinance needs including:
FHA 3.5 % Down Payment Government Insured Program
FHA Streamline Refinance Government Insured Program
FHA Government Insured Reverse Mortgages
Call Rick Saunders today at 703-281-RICK (7425) for the best rate and terms for your Virginia mortgage needs.
2) VA Loans (Government Guaranteed) available to those with VA eligibility
In 1944, the dream of home ownership became a reality for millions of veterans. President Franklin D. Roosevelt through the original Servicemen's Readjustment Act also known as the GI Bill of Rights was signed into law. Franklin D. Roosevelt provided veterans a federally guaranteed home loan with no down payment. This feature was designed to provide housing assistance for veterans and their families.
Designed to offer long-term financing to American veterans, VA mortgage loans are issued by federally qualified lenders and are guaranteed by the U.S. Veterans Administration. The VA determines eligibility and issues a certificate to qualifying applicants to submit to their mortgage lender of choice. It is generally easier to qualify for a VA loan than conventional loans.
Here's how it works:
-
100% financing without private mortgage insurance or 20% second mortgage. - A VA funding fee of 0 to 3.3% (this fee may be financed) of the loan amount is paid to the VA.
- When purchasing a home, veterans may borrow up to 100% of the sales price or reasonable value of the home, whichever is less.
- When refinancing a home, veterans may borrow up to 90% of reasonable value in order to refinance where state law allows.
We are conveniently located in Northern Virginia in the City of Fairfax. We offer a full line of VA Loans for all of your purchase or refinance needs including:
No Money Down and No PMI VA Loans
VA Loans up to 1.5 million
VA Streamline Refinance Loans
Call Rick Saunders today at 703-281-RICK (7425) for the best rate and terms for your Virginia mortgage needs.
