Government Loans
Government-backed loans are designed to expand access to homeownership and provide flexible solutions for eligible borrowers. FHA loans offer lower down payments and more lenient credit requirements, making them a strong choice for first-time buyers. VA loans deliver exclusive benefits to veterans, active-duty service members, and eligible surviving spouses, often requiring no down payment or monthly mortgage insurance. Together, these programs help more families achieve the stability and security of homeownership.
FHA Purchase (Fixed & ARM)
Designed to make homeownership more accessible with low down payment options and flexible credit requirements.
| Underwriting Method | Min FICO | Purchase LTV/CLTV | No Cash-Out Refi LTV/CLTV | Cash-Out Refi LTV/CLTV | Occupancy | Units |
|---|---|---|---|---|---|---|
| TOTAL A/A (AUS) | 580 | 96.5% / 105% | 97.75% | 80% | Primary Residence | 1–4 |
| Manual | 600 | 96.5% / 105% | 97.75% | 80% | Primary Residence | 1–4 |
Benefits & Requirements
Benefits
- FHA: As little as 3.5% down with flexible credit standards
- VA: No down payment and no monthly mortgage insurance
- Competitive interest rates backed by federal programs
- Options for purchase, refinance, or cash-out
- Tailored support for first-time buyers and veterans
Requirements
- FHA: Minimum FICO 580 with 3.5% down (500–579 requires 10% down)
- VA: Must be an eligible veteran, service member, or surviving spouse
- Standard income and property verification required
- Primary residences only (no investment properties)
- Property must meet FHA or VA appraisal standards
VA Loans
VA loans, backed by the Department of Veterans Affairs, provide veterans and service members unmatched benefits and no down payment options.
| Program Type | Min FICO | Max LTV/CLTV | Occupancy | Units |
|---|---|---|---|---|
| Purchase | 580 | 100% | Primary Residence | 1–4 |
| No Cash-Out Refinance | 580 | 100% | Primary Residence | 1–4 |
| Cash-Out Refinance | 580 | 90% | Primary Residence | 1–4 |
Benefits & Requirements
Benefits
- No down payment required in most cases
- No private mortgage insurance
- Competitive interest rates
- Limited closing costs
- No prepayment penalties
Requirements
- VA Certificate of Eligibility (COE)
- Minimum credit score typically 580 (lender specific)
- Property must be your primary residence
- VA funding fee required (unless exempt)
- Must meet VA and lender income requirements
Programs, rates, and terms are subject to change without notice. All loans are subject to credit approval, verification, and property appraisal. Not all programs are available in all states or for all loan amounts. Restrictions may apply.