Loan Program Highlights
15 to 30 Year FHA
Purchases or Refinances: Maximum loan varies per property location. Small down-payments. This is a great government program with buyers cash outlay as low as 3.5% - great rates. Can be combined with a grant and allows borrower to buy home for ZERO CASH . Middle Tennessee maximum loan amount is $432,500. For other areas, please call for maximum loan.
VA Loans ("Military Service Appreciation Program")
10 to 30 year purchases or refinances. Loans up to $417,000 including a funding fee. LTV up to 100% for purchases. Seller can pay all costs so that the veteran's total cash outlay is ZERO. No maximum LTV on refinancing of an existing VA loan. VA refinances of other loan types are allowed 90% of appraisal.
First Time Buyers
15 to 30 Year FHA, VA, Rural Housing, and CONVENTIONAL
THDA Loans (Tennessee only)
Great Rate Program: Bond issue loans for 1st time buyers. Very low fixed rate.
Great Start Program: Bond issue loans with 4% grant allowing borrower to buy with no cash.
Great Advantage Program: Bond issue loan with 2% grant.
10 to 30 year Conventional Loans (Fixed and Adjustable)
Fixed - up to $417,000 - Purchase up to 95% LTV's. Refinances 95% of value available. PMI required over 80 % LTV. Our automated underwriting will approve loans we once thought were impossible. This is a documented loan for good credit. Terms for adjustable may very from the above.
Unusual Situations
We can also do loans for those with:
- Bankruptcy consolidation
- Non-owner investment properties
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