Government Loan Programs


FHA Loans

An FHA loan is insured by the Federal Housing Administration, a federal agency within the U.S. Department of Housing and Urban Development (HUD). The FHA does not loan money to borrowers, rather, it provides lenders protection through mortgage insurance (MIP) in case the borrower defaults on his or her loan obligations. Available to all buyers, FHA loan programs are designed to help creditworthy low-income and moderate-income families who do not meet requirements for conventional loans.



FHA loan programs are particularly beneficial to those buyers with less available cash. The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans.



Some of the other benefits of FHA financing:

  • Only a 3.5 percent down payment is required.
  • Closing costs can be financed.
  • Lower monthly mortgage insurance premiums and, under certain conditions, automatic cancellation of the premium.
  • More flexible underwriting criteria than conventional loans
  • FHA limits the amount lenders can charge for some closing cost fees (e.g. the origination fee can be no more than 1% of mortgage).
  • Loans are assumable to qualified buyers.
  • FHA 203(k) Rehab Loan

For Rates Click Here 

For Pre Approval Click Here

 

USDA Loans

$0 Down, Lower Rates and Millions Now Qualify

USDA Loan Facts

Encouraging rural land development and growth in rural areas

USDA Loan Program
Growing in popularity, USDA loan offer
incredible benefits to borrowers.

  • Its not "just for farmers" millions can now qualify
  • Offers better terms tha a FHA or Conventional loans
  • $0 Down Lower Rates and, 100% financing is available
  • No Private Mortgage Insurance
  • Can be used to buy a new home or refinance to a lower rate.
  • The USDA closed $16 billion in 2009
  • Terms are up to 33-38 years allowing you to lower payments
  • Lower income families and those with blemished credit can qualify

For Pre Approval Click Here

 

VA Loansleft



VA guaranteed loans are made by lenders and guaranteed by the U.S. Department of Veteran Affairs (VA) to eligible veterans for the purchase of a home. The guaranty means the lender is protected against loss if you fail to repay the loan. In most cases, no down payment is required on a VA guaranteed loan and the borrower usually receives a lower interest rate than is ordinarily available with other loans.



Other benefits of a VA loan include:

  • Negotiable interest rates.
  • Closing costs are comparable and sometimes lower - than other financing types.
  • No private mortgage insurance requirement.
  • Right to prepay loan without penalties
  • The Mortgage can be taken over (or assumed) by the buyer when a home is sold.
  • Counseling and assistance available to veteran borrowers having financial difficulty or facing default on their loan.


Although mortgage insurance is not required, the VA charges a funding fee to issue a guarantee to a lender against borrower default on a mortgage. The fee may be paid in cash by the buyer or seller, or it may be financed in the loan amount.



A VA loan can be used to buy a home, build a home and even improve a home with energy-saving features such as solar or heating/cooling systems, water heaters, insulation, weather-stripping/caulking, storm windows/doors or other energy efficient improvements approved by the lender and VA.



Veterans can apply for a VA loan with any mortgage lender that participates in the VA home loan program. A Certificate of Eligibility from the VA must be presented to the lender to qualify for the loan.

For Rates Click Here 

 



 

Serving Alamance Counties,Alexander Counties,Alleghany Counties,Anson Counties,Ashe Counties,Avery Counties,Beaufort Counties,Bertie Counties,Bladen Counties,Brunswick Counties,Buncombe Counties,Burke Counties,Cabarrus Counties,Caldwell Counties,Camden Counties,Carteret Counties,Caswell Counties,Catawba Counties,Chatham Counties,Cherokee Counties,Chowan Counties,Clay Counties,Cleveland Counties,Columbus Counties,Craven Counties,Cumberland Counties,Currituck Counties,Dare Counties,Davidson Counties,Davie Counties,Duplin Counties,Durham Counties,Edgecombe Counties,Forsyth Counties,Franklin Counties,Gaston Counties,Gates Counties,Graham Counties,Granville Counties,Greene Counties,Guilford Counties,Halifax Counties,Harnett Counties,Haywood Counties,Henderson Counties,Hertford Counties,Hoke Counties,Hyde Counties,Iredell Counties,Jackson Counties,Johnston Counties,Jones Counties,Lee Counties,Lenoir Counties,Lincoln Counties,Macon Counties,Madison Counties,Martin Counties,McDowell Counties,Mecklenburg Counties,Mitchell Counties,Montgomery Counties,Moore Counties,Nash Counties,NewHanover Counties,Northampton Counties,Onslow Counties,Orange Counties,Pamlico Counties,Pasquotank Counties,Pender Counties,Perquimans Counties,Person Counties,Pitt Counties,Polk Counties,Randolph Counties,Richmond Counties,Robeson Counties,Rockingham Counties,Rowan Counties,Rutherford Counties,Sampson Counties,Scotland Counties,Stanly Counties,Stokes Counties,Surry Counties,Swain Counties,Transylvania Counties,Tyrrell Counties,Union Counties,Vance Counties,Wake Counties,Warren Counties,Washington Counties,Watauga Counties,Wayne Counties,Wilkes Counties,Wilson Counties,Yadkin Counties,Yancey Counties.

 

 


FIRST FINANCIAL SERVICES, INC 5565 Centerview Drive Raleigh, NC 27606
Phone: Fax:

Copyright © 2012 FIRST FINANCIAL SERVICES, INC
Portions Copyright © 2012 a la mode, inc.
Another XSite by a la mode, inc. | Admin Login| Terms of Use| Site Map



 
State:
County:
City:
Zip: