Governmentinsured Loans Processing FHA VA USDA

We process FHA (Federal Housing Administration), VA (Veterans Affairs), and USDA (United States Department of Agriculture) loans.

The main difference in processing these loans is that they require additional steps such as obtaining a certificate of eligibility for VA loans or meeting income-eligibility requirements for USDA loans. FHA loans also have specific property condition standards that must be met.

These types of mortgages often have more lenient credit requirements and lower down payments. For example, FHA loans allow down payments as low as 3.5%, while VA and USDA loans can sometimes offer zero-down financing options.

Government-insured loans often come with additional costs such as upfront mortgage insurance premiums (for FHA and USDA loans) or funding fees (for VA loans). Also, not all properties may qualify for these types of mortgages due to their stricter property condition standards.

While anyone can apply for an FHA loan, there are specific eligibility requirements for VA and USDA Loans. To qualify for a VA loan one typically needs to be a veteran or service member. For USDA Loans the home must be located in eligible rural areas and the borrower must meet certain income requirements.