So you’ve made the decision to buy a home. What now?
Figuring out exactly what type of loan is best for your financial situation can be quite the task. Luckily, we’re here to help you sift through the details of each loan and help guide you toward the best choice.
Common Loan Types
VA Loans – Eligible veterans, members of the military, or surviving spouses can be eligible for a VA loan and be able to buy a home with no down payment and the option to refinance up to 120 percent of your home. When you refinance on a VA loan, you will even have the opportunity to cash out all of your equity.
USDA Loans – A loan that requires no down payment on the purchase of a rural or agricultural property.
FHA Loans – Insured by the Federal Housing Administration, this type of loan allows for a lower down payment though you will pay for mortgage insurance, which protects the lender if you, default on the loan.
HELOC Loans – Allow you to borrow against available equity using your home as collateral.
It is possible to get qualified for a loan with no down payment or as little as one percent. We’ll go through all of options with you and find the best deal for you. And with our Down Payment Assistance Program, we contribute two percent of the down payment while you contribute one percent.
Utah Housing is another great program that we make available to our qualifying clients. This unique program allows you to borrow the total amount of your down payment.
Making the process as quick and streamlined as possible, we’ll guide you through the entire process and ensure that you understand the loan before we make anything official. Learn how we can get you the best loan with the lowest rate today.