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Conventional Conforming loan limits now up to $647,200

FHA and VA Mortgage Programs

FHA and VA Mortgage Programs

FHA Loans

These loans insured by the U.S. Department of Housing and Urban Development. They are designed to make housing more affordable, particularly for first-time homebuyers. FHA loans typically permit borrowers to buy a home with a lower down payment than conventional loans or refinance with less home equity. Current FHA loan limits vary depending on home type and home location.


  • Available in a variety of fixed rate and adjustable rate loan options
  • May allow the use of gift or grant funds for all or a portion of closing costs
  • Current FHA homeowners may be able to obtain an FHA streamline refinance


  • Require less cash upfront for down payment and closing costs
  • Available for all income levels.
  • Less paperwork is required for those who qualify for an FHA streamline refinance
  • A co-applicant can help a borrower to qualify, even if they do not live in the home


  • Typically can only have one FHA mortgage at any given time
  • May end up being more expensive than other financing options in some circumstances


VA Loans

This type of loan is guaranteed by the U.S. Department of Veterans Affairs. It was created to help make housing affordable for eligible U.S. veterans and members of the military. VA home loans are available to veterans, reservists, active-duty military personnel, and surviving spouses of veterans with 100% entitlement. Eligible veterans may be able to buy a home with no down payment, refinance up to 100% of the home’s value and pay no private mortgage insurance.


  • Provides a wide range of rate, term and cost options.
  • Doesn't require monthly mortgage insurance.
  • No down payment required


  • Typically requires a one-time VA funding fee that can be financed into the loan amount
  • Only available for a primary residence

These programs have special requirements to qualify. Talk to your local Mortgage Consultant to see if you qualify today.


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