FHA & VA Loans

FHA and VA Loans are insured by the Federal Housing Administration and Veterans Affairs, meaning homebuyers have an easier time qualifying for a mortgage. Those borrowers who typically benefit the most from an FHA or VA loan are first-time homebuyers and those who have less than perfect credit.

Most Common Types of FHA & VA Loans

Fixed Rate Mortgages: Your rate and payment never change.

  • 30 Year Fixed Loan
  • 25 Year Fixed Loan
  • 20 Year Fixed Loan
  • 15 Year Fixed Loan

Adjustable Rate Mortgages: Fixed rate initially, then adjusts either annually or semi-annually.

  • 3/1 or 3/6 ARM
    Fixed Rate for 3 Years, Adjustable Rate for the remaining 27 years
  • 5/1 or 5/6 ARM
    Fixed Rate for 5 Years, Adjustable Rate for the remaining 25 years

What Are the FHA & VA Down Payment Requirements?

For Purchase transactions FHA loans require a minimum down payment of 3.5%; VA loans may allow for as little as 0% down payment depending on eligibility requirements.

What Types of Property Are Eligible?

FHA & VA loans are only available to borrowers who are purchasing a property with the intent of using the home as their primary residence.

Find Out if an FHA or VA Loan Is Right for You