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The Mortgage Firm

News & Insight

Home Loan Programs

By TMF Marketing

We have options for you!

FHA Loan

If you are a first time buyer, an FHA loan could be a good option to consider when purchasing a home. A Federal Housing Administration (FHA) loan provides an exceptional government-insured loan with flexible loan options. Let us guide you through taking advantage of the FHA’s Loan Program benefits:

  • Lower Down Payment (3.5% minimum)

  • Lower Minimum Cash to Close

  • Minimum FICO 580

  • Debt-to-Income Thresholds are Higher

  • Upfront Mortgage Insurance Premiums (1.75%) Financed

  • Down payment assistance programs available 


Conventional Loan 

Another great loan option for first time buyers is Conventional Loans:

  • Low 3-5% down payment options available

  • 620 Minimum Credit Score 

  • Allows for Higher Loan Amounts than FHA Loans

  • Down payment assistance programs available 


VA Loan

VA Loans are also a great option for first time buyers that are veterans, reservists, active-duty, and/or surviving spouses of veterans based on military entitlement. Below we have highlighted the advantages for first time buyers utilizing this product: 

  • No down payment necessary

  • If you do provide a down payment, down payment assistance programs are available 

  • No cash reserves

  • No application fee

  • No monthly mortgage insurance premiums

  • VA funding fee may be financed

  • The seller is required to pay certain closing costs, therefore decreasing the closing cost of the borrower

  • May pay off some debt with a refinancing loan program

  • 1-4 unit primary residences with restrictions


*Disclaimer: Additional requirements may apply; programs are subject to change without notice.



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