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I’m interested in a low down payment option.
I’m buying my first home.
I’m a Veteran or active member of the U.S Military.
FHA
WHY CHOOSE FHA?
- Low down payment options
- Allows seller to pay up to 6% of closing costs
- Flexible credit guidelines
An FHA loan is a mortgage loan issued by federally qualified lenders and backed by the Federal Housing Administration. Designed for low-to-moderate income borrowers who are unable to make a large down payment— they are typically more flexible in credit and income requirements than conventional loans.
FNMA – HomeReady
WHY CHOOSE FNMA HOMEREADY?
- Low down payment options
- No minimum contribution of funds from borrower
- Private mortgage insurance is cancellable
HomeReady is an affordable, low down payment mortgage product designed for creditworthy low- to moderate-income borrowers, with expanded eligibility for financing homes in low-income communities.
FHLMC – HomeOne
WHY CHOOSE FHLMC HOMEONE?
- No Income Limits
- Low down payment option
- Purchase or No Cash-out Refinance
HomeOne is for first-time borrowers looking for flexible finance options with no income limits and low down payment options.
Conventional
WHY CHOOSE CONVENTIONAL?
- Low down payment options
- Income properties are eligible
- Private mortgage insurance not required with 20% down payment or higher
A conventional loan is our most popular mortgage option for borrowers looking to purchase or refinance a home. They are not guaranteed or insured by any government agency and conform to the loan limits set by the Federal Housing Finance Administration (FHFA).
Want to find out more? Call (888) 778-9700 to speak with one of our qualified team members today.
VA
WHY CHOOSE VA?
- No down payment options
- No monthly mortgage insurance
- Competitive interest rates
A VA loan is a mortgage that is backed by the Department of Veterans Affairs for veterans, active military personnel and military spouses who qualify. With no down payment requirement and competitive interest rates, it’s a great choice for eligible applicants.
Want to find out more? Call (888) 778-9700 to speak with one of our qualified team members today.
When buying your first home, there are a lot of factors to consider. We recommend a consultation with one of our loan experts. They will meet with you to discuss your current financial standing and help you decide the on the loan program best suited to your specific needs. They will also review the financial commitment of purchasing a home, guide you through the pre-approval process and help you organize the necessary applications documents. Take a look at the loan products we offer below.
Conventional
WHY CHOOSE CONVENTIONAL?
- Low down payment options
- Income properties are eligible
- Private mortgage insurance not required with 20% down payment or higher
A conventional loan is our most popular mortgage option for borrowers looking to purchase or refinance a home. They are not guaranteed or insured by any government agency and conform to the loan limits set by the Federal Housing Finance Administration (FHFA).
FHA
WHY CHOOSE FHA?
- Low down payment options
- Allows seller to pay up to 6% of closing costs
- Flexible credit guidelines
An FHA loan is a mortgage loan issued by federally qualified lenders and backed by the Federal Housing Administration. Designed for low-to-moderate income borrowers who are unable to make a large down payment— they are typically more flexible in credit and income requirements than conventional loans.
FNMA – HomeReady
WHY CHOOSE FNMA HOMEREADY?
- Low down payment options
- No minimum contribution of funds from borrower
- Private mortgage insurance is cancellable
HomeReady is an affordable, low down payment mortgage product designed for creditworthy low- to moderate-income borrowers, with expanded eligibility for financing homes in low-income communities.
Want to find out more? Call (888) 778-9700 to speak with one of our qualified team members today.
I would like to live in a rural area.
I want to buy a home, but it’s a fixer-upper.
I have less-than-perfect credit, but I would like to purchase a home.
USDA
WHY CHOOSE A USDA LOAN?
- No down payment requirement
- Low monthly private mortgage insurance
- Flexible credit guidelines
USDA loans are mortgages for homes in eligible rural areas and are backed by the United States Department of Agriculture. USDA loans are geared towards low-to-moderate income families looking to finance a home. They offer low interest rates and no down payment is required.
Want to find out more? Call (888) 778-9700 to speak with one of our qualified team members today.
FHA 203(K)
WHY CHOOSE FHA 203(k)?
- Low down payment options
- Flexible credit guidelines
- Ability to finance whole home remodel
An FHA 203(k) loan is an FHA loan that provides borrowers with the opportunity to combine renovation costs with their mortgage financing. This allows the cost of renovations to be spread out over the life of your loan and offers lower interest rates and longer loan terms than traditional home improvement loans.
Here at Towne, we offer both the standard and streamline versions of this program.
FNMA – HomeStyle Loan
WHY CHOOSE FNMA HOMESTYLE?
- Low down payment options
- Ability to finance home purchase and remodel into one loan
- Loan amount based on as-completed value of the home
- Also available for conventional high balance
HomeStyle Renovation provides a convenient way for borrowers to make renovations, repairs, or improvements. Rather than a second mortgage, home equity line of credit or other more costly financing options, you can borrow up to 50 percent (for manufactured homes) or 75 percent (for all other property types) of the as-completed appraised value of the property with a first mortgage.
Want to find out more? Call (888) 778-9700 to speak with one of our qualified team members today.
FHA
WHY CHOOSE FHA?
- Low down payment options
- Allows seller to pay up to 6% of closing costs
- Flexible credit guidelines
An FHA loan is a mortgage loan issued by federally qualified lenders and backed by the Federal Housing Administration. Designed for low-to-moderate income borrowers who are unable to make a large down payment— they are typically more flexible in credit and income requirements than conventional loans.
Want to find out more? Call (888) 778-9700 to speak with one of our qualified team members today.
I want to purchase an investment property or second home.
I want to build a home.
Conventional
WHY CHOOSE CONVENTIONAL?
- Second home requires only 10% down payment, investment property requires only 15% down payment
- Private mortgage insurance not required with 20% down payment or higher
- Conventional credit guidelines apply
A conventional loan is our most popular mortgage option for borrowers looking to purchase a home. They are not guaranteed or insured by any government agency and conform to the loan limits set by the Federal Housing Finance Administration (FHFA).
Want to find out more? Call (888) 778-9700 to speak with one of our qualified team members today.
Extended Rate Lock Program
WHY CHOOSE EXTENDED RATE LOCK?
- Allows borrower to lock in current interest rate for up to 12 months
- One float-down option is allowed to protect borrowers if interest drops
- Conventional, VA and FHA fixed-rate financing eligible
The Extended Lock Program allows borrowers to lock in their current interest rate for up to 12 months on eligible, permanent, new construction properties. It applies to Conventional fixed-rate, FHA fixed-rate and VA fixed-rate financing and is a great option for borrowers looking to build a home but avoid the risk of rising interest rates.
Want to find out more? Call (888) 778-9700 to speak with one of our qualified team members today.
I’m interested in a low down payment option.
FHA
WHY CHOOSE FHA?
- Low down payment options
- Allows seller to pay up to 6% of closing costs
- Flexible credit guidelines
An FHA loan is a mortgage loan issued by federally qualified lenders and backed by the Federal Housing Administration. Designed for low-to-moderate income borrowers who are unable to make a large down payment— they are typically more flexible in credit and income requirements than conventional loans.
FNMA – HomeReady
WHY CHOOSE FNMA HOMEREADY?
- Low down payment options
- No minimum contribution of funds from borrower
- Private mortgage insurance is cancellable
HomeReady is an affordable, low down payment mortgage product designed for creditworthy low- to moderate-income borrowers, with expanded eligibility for financing homes in low-income communities.
FHLMC – HomeOne
WHY CHOOSE FHLMC HOMEONE?
- No Income Limits
- Low down payment option
- Purchase or No Cash-out Refinance
HomeOne is for first-time borrowers looking for flexible finance options with no income limits and low down payment options.
Conventional
WHY CHOOSE CONVENTIONAL?
- Low down payment options
- Income properties are eligible
- Private mortgage insurance not required with 20% down payment or higher
A conventional loan is our most popular mortgage option for borrowers looking to purchase or refinance a home. They are not guaranteed or insured by any government agency and conform to the loan limits set by the Federal Housing Finance Administration (FHFA).
Want to find out more? Call (888) 778-9700 to speak with one of our qualified team members today.
I’m buying my first home.
When buying your first home, there are a lot of factors to consider. We recommend a consultation with one of our loan experts. They will meet with you to discuss your current financial standing and help you decide the on the loan program best suited to your specific needs. They will also review the financial commitment of purchasing a home, guide you through the pre-approval process and help you organize the necessary applications documents. Take a look at the loan products we offer below.
Conventional
WHY CHOOSE CONVENTIONAL?
- Low down payment options
- Income properties are eligible
- Private mortgage insurance not required with 20% down payment or higher
A conventional loan is our most popular mortgage option for borrowers looking to purchase or refinance a home. They are not guaranteed or insured by any government agency and conform to the loan limits set by the Federal Housing Finance Administration (FHFA).
FHA
WHY CHOOSE FHA?
- Low down payment options
- Allows seller to pay up to 6% of closing costs
- Flexible credit guidelines
An FHA loan is a mortgage loan issued by federally qualified lenders and backed by the Federal Housing Administration. Designed for low-to-moderate income borrowers who are unable to make a large down payment— they are typically more flexible in credit and income requirements than conventional loans.
FNMA – HomeReady
WHY CHOOSE FNMA HOMEREADY?
- Low down payment options
- No minimum contribution of funds from borrower
- Private mortgage insurance is cancellable
HomeReady is an affordable, low down payment mortgage product designed for creditworthy low- to moderate-income borrowers, with expanded eligibility for financing homes in low-income communities.
Want to find out more? Call (888) 778-9700 to speak with one of our qualified team members today.
I’m a Veteran or active member of the U.S Military.
VA
WHY CHOOSE VA?
- No down payment options
- No monthly mortgage insurance
- Competitive interest rates
A VA loan is a mortgage that is backed by the Department of Veterans Affairs for veterans, active military personnel and military spouses who qualify. With no down payment requirement and competitive interest rates, it’s a great choice for eligible applicants.
Want to find out more? Call (888) 778-9700 to speak with one of our qualified team members today.
I would like to live in a rural area.
USDA
WHY CHOOSE A USDA LOAN?
- No down payment requirement
- Low monthly private mortgage insurance
- Flexible credit guidelines
USDA loans are mortgages for homes in eligible rural areas and are backed by the United States Department of Agriculture. USDA loans are geared towards low-to-moderate income families looking to finance a home. They offer low interest rates and no down payment is required.
Want to find out more? Call (888) 778-9700 to speak with one of our qualified team members today.
I want to buy a home, but it’s a fixer-upper.
FHA 203(K)
WHY CHOOSE FHA 203(k)?
- Low down payment options
- Flexible credit guidelines
- Ability to finance whole home remodel
An FHA 203(k) loan is an FHA loan that provides borrowers with the opportunity to combine renovation costs with their mortgage financing. This allows the cost of renovations to be spread out over the life of your loan and offers lower interest rates and longer loan terms than traditional home improvement loans.
Here at Towne, we offer both the standard and streamline versions of this program.
FNMA – HomeStyle Loan
WHY CHOOSE FNMA HOMESTYLE?
- Low down payment options
- Ability to finance home purchase and remodel into one loan
- Loan amount based on as-completed value of the home
- Also available for conventional high balance
HomeStyle Renovation provides a convenient way for borrowers to make renovations, repairs, or improvements. Rather than a second mortgage, home equity line of credit or other more costly financing options, you can borrow up to 50 percent (for manufactured homes) or 75 percent (for all other property types) of the as-completed appraised value of the property with a first mortgage.
Want to find out more? Call (888) 778-9700 to speak with one of our qualified team members today.
I have less-than-perfect credit, but I would like to purchase a home.
FHA
WHY CHOOSE FHA?
- Low down payment options
- Allows seller to pay up to 6% of closing costs
- Flexible credit guidelines
An FHA loan is a mortgage loan issued by federally qualified lenders and backed by the Federal Housing Administration. Designed for low-to-moderate income borrowers who are unable to make a large down payment— they are typically more flexible in credit and income requirements than conventional loans.
Want to find out more? Call (888) 778-9700 to speak with one of our qualified team members today.
I want to purchase an investment property or second home.
Conventional
WHY CHOOSE CONVENTIONAL?
- Second home requires only 10% down payment, investment property requires only 15% down payment
- Private mortgage insurance not required with 20% down payment or higher
- Conventional credit guidelines apply
A conventional loan is our most popular mortgage option for borrowers looking to purchase a home. They are not guaranteed or insured by any government agency and conform to the loan limits set by the Federal Housing Finance Administration (FHFA).
Want to find out more? Call (888) 778-9700 to speak with one of our qualified team members today.
I want to build a home.
Extended Rate Lock Program
WHY CHOOSE EXTENDED RATE LOCK?
- Allows borrower to lock in current interest rate for up to 12 months
- One float-down option is allowed to protect borrowers if interest drops
- Conventional, VA and FHA fixed-rate financing eligible
The Extended Lock Program allows borrowers to lock in their current interest rate for up to 12 months on eligible, permanent, new construction properties. It applies to Conventional fixed-rate, FHA fixed-rate and VA fixed-rate financing and is a great option for borrowers looking to build a home but avoid the risk of rising interest rates.
Want to find out more? Call (888) 778-9700 to speak with one of our qualified team members today.
