FHA VA and USDA Mortgages

(Government Programs)


FHA Mortgage

FHA Mortgage

(Federal Housing Authority)


How can FHA help me buy a home?
FHA insured mortgages offer many benefits and protections that only come with FHA:

Easier to Qualify: Because FHA insures your mortgage, lenders may be more willing to give you loan terms that make it easier for you to qualify.

Less than Perfect Credit: You don't have to have a perfect credit score to get an FHA mortgage. In fact, even if you have had credit problems, such as a bankruptcy, it's easier for you to qualify for an FHA loan than a conventional loan.

Low Down Payment: FHA loans have a low 3.5% downpayment and that money can come from a family member, employer or charitable organization as a gift. Other loan programs don't allow this.

Costs Less: FHA loans have competitive interest rates because the Federal government insures the loans. Always compare an FHA loan with other loan types.

An FHA insured mortgage may be used to purchase or refinance a new or existing 1-4 family home, a condominium unit or a manufactured housing unit (provided the manufactured housing unit is on a permanent foundation.)


VA Mortgage

VA Mortgage

(Veteran's Administration)


How can FHA help me buy a home?

VA helps Servicemembers, Veterans, and eligible surviving spouses become homeowners. 

VA insured mortgages offer many benefits and protections that only come with VA:

Easier to Qualify: Because the VA insures your mortgage, lenders may be more willing to give you loan terms that make it easier for you to qualify.

Less than Perfect Credit: You don't have to have a perfect credit score to get an FHA mortgage.

No Down Payment: VA loans do not require a down payment and offer 100% financing.


USDA Mortgage

USDA Mortgage

(United States Dept. of Agriculture)


This program assists approved lenders in providing low- and moderate-income households the opportunity to own adequate, modest, decent, safe and sanitary dwellings as their primary residence in eligible rural areas. 

How may funds be used?

New or existing residential property to be used as a permanent residence. Closing cost and reasonable/customary expenses associated with the purchase may be included in the transaction

A site with a new or existing dwelling

Repairs and rehabilitation when associated with the purchase of an existing dwelling

Refinancing of eligible loans

Special design features or permanently installed equipment to accommodate a household member who has a physical disability

Reasonable and customary connection fees, assessments or the pro rata installment cost for utilities such as water, sewer, electricity and gas for which the buyer is liable

A pro rata share of real estate taxes that is due and payable on the property at the time of loan closing.  Funds can be allowed for the establishment of escrow accounts for real estate taxes and/or hazard and flood insurance premiums

Essential household equipment such as wall-to-wall carpeting, ovens, ranges, refrigerators, washers, dryers, heating and cooling equipment as long as the equipment is conveyed with the dwelling

Purchasing and installing measures to promote energy efficiency (e.g. insulation, double-paned glass and solar panels)

Installing fixed broadband service to the household as long as the equipment is conveyed with the dwelling

Site preparation costs, including grading, foundation plantings, seeding or sod installation, trees, walks, fences and driveways