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Conventional & FHA – VA – USDA Government Loans

Conventional & FHA – VA – USDA Government Loans

1. Conventional/Conforming:

Loan Amounts up to $453,100 with as little as 3% down. To save you time and money, we sell our loans directly to Fannie Mae and Freddie Mac. This means that the middle man is eliminated. As a direct lender, we can provide you with a great interest rate.

        2. Jumbo (Non-Conforming):

Financing for large loans is still available. Jumbo loans have loan amounts above $453,100 (the conforming limit set by Fannie Mae). Some programs allow as little as 10% down with credit scores of 680 and greater.

        3. FHA (Federal Housing Administration):

FHA loans offer as little as 3.5%* down. The standard FHA program offered is credit scores greater than 640. The FHA program allowed for gifts to be used for down payment and closing cost as well as other relaxed requirements.

        4. VA (Veterans Administration):

Service First Mortgage has always made our veterans a priority. We know our veterans deserve the best, so we give them the best. VA loans are available to eligible veterans to be used to buy a home or refinance a home loan.

        5. USDA:

USDA sponsors a loan program for properties located in designated Rural areas for borrowers with low to moderate income levels. USDA sets specific guidelines for this program that center around credit requirements, down payment, property location, and income limits. This program is available for borrowers with credit scores as low as 640 with no down payment required.