| FHA |
| We offer residential mortgage loans insured by the Federal Housing Administration (FHA). FHA-insured loans offer many benefits, including lower costs, smaller down payments, easier qualification, and more protection to keep your home. An FHA loan may be easier to qualify for as the program will allow for less than perfect credit. FHA also allows a 3.5% down payment and allows the seller to pay for some of the Borrower's closing costs, up to 6% of the sales price. |
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| VA |
| The VA loan program can make it much easier for qualified veterans to secure a home loan by requiring little or no down payment. This home loan is available to qualified veterans and guaranteed by the U.S. Veteran's Administration, and it may offer lower interest rates than ordinarily available. In addition, with a VA-guaranteed loan, there is no private mortgage insurance requirement. |
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| Conforming-Jumbo |
| Fannie Mae and Freddie Mac offer new conforming-jumbo loan limits to make it easier and more affordable for more buyers to "move up" and purchase higher-value homes, or save substantially by refinancing their jumbo loan. This conforming product offers may advantages over the Jumbo loans of old...Lower FICO scores and down payment requirements, lower rates and loans amounts of up to $729,750, in some areas, creates an alternative to a traditional jumbo loan. |
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| State Bond Programs |
| Many states have established bond programs to help first-time home buyers with down payment assistance, obtaining a lower rate, and qualifying more easily for a home loan. Amera offers State Bond Programs, in Michigan, Indiana and Ohio, that can help you get in your new home. |
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| FHA Jumbo Loans |
| HUD now offers FHA Jumbo loans. The loan balance limits will range from $271,050 to $729,750. See https://entp.hud.gov/idapp/html/hicostlook.cfm for more information on the limits in your area. |