Government Loans are great for the first-time homebuyer with little-to-no credit. They come with great rates, and down payment assistance may be available, too. Some programs, such as USDA and VA loans, require no down payment at all.

Our Government loans include:

  • FHA 580 FICO
  • FHA Standard
  • FHA No FICO
  • FHA High Balance
  • GHA 203k Streamlines
  • USDA
  • VA IRRRLs
  • VA Purchase
  • FHA No down payment

Pros

  • Little to no credit required

  • Little to no down payment required

  • Non-occupant co-signers allowed

  • Lower interest rates compared to conventional loans

  • Ability to streamline refinance process

Cons

  • Resales are not allowed before 91 days

  • Mortgage insurance must be paid upfront

  • Mortgage insurance cannot be removed without refinancing

  • Harder to approve once declined by another bank