Mortgages

Conventional

10, 15, 20,
and 30 Year

3%¹, 5%

• Affordable, fixed rates.
• You should consider monthly payments and
  total interest when determining the term.

ARMs

1/1, 3/1, 5/1, 7/1
and 10/1 ARMs

10%

• Can keep payments lower during the first few years.
• Best for those intending to live in the home for a
  limited time.

FHA

15 and 30 Year

3.5%

• Reduced interest rates.
• Only available to those that qualify and may require
  additional insurance.

First Time Homebuyer Program

(HomeReady Advantage)²

10, 15, 20,
and 30 Year

3%

• Down payment can be from gifts and other eligible sources.
• Requires completion of an online Homebuyers Education Course.
• Great for homebuyers with good credit but limited funds.

VA

15 and 30 Year

No down payment
required

• Reduced closing costs and no Monthly Mortgage Insurance.
• Only available for eligible veterans, active duty, reservist, or surviving spouse.

USDA

30 Year

No down payment
required

• Reduced Monthly Mortgage Insurance.
• Income and property address restrictions may apply.

¹Down payment of 3% for qualifying First Time Homebuyers   ²HomeReady Advantage Program is subject to change at any time