FHA Loans have been helping people become homeowners since 1934. The Federal Housing Administration insures the loan, allowing the lender to offer you low down payments, low closing costs and easy credit qualifying.
Since their inception in 1944, VA loans have helped more than 20 million veterans find low-cost home financing options. Because the loan is guaranteed by the federal government, the lender can provide the borrow with favorable terms.
Home financing doesn't have to be complicated – especially when all the terms are clearly defined. You’ll find definitions for the terms you’re most likely to encounter on your path to homeownership in this glossary.
**Assumptions. You are purchasing a single family home and primary residence. Rate is fixed. Debt-to-income ratio is less than 41% and excellent credit. These assumptions are subject to change without notice.
*This mortgage calculator is for illustrative purposes only and is not a guarantee. The monthly payment illustration on this tool does not include amounts for property taxes, insurance premiums, homeowner’s association dues, or other factors that potentially could affect your monthly payment. Therefore, your actual monthly payment will be higher. Interest rates change frequently and without notice. Financing availability and terms will depend on your situation.