An FHA 203k loan is backed by the government similar to a normal 203k loan and only requires as little as 3.5% down. The FHA 203K loan is a great loan if you want to buy an older home that Read more…
Tag Archives: Mortgage Loan Types
Reverse mortgage is a Home Equity Conversion Mortgage (HECM) and there are two types, a HECM for Purchase (Reverse Purchase) or a HECM Refinance (Reverse Refinance). The Big Advantage of the Reverse Purchase is that the buyer can purchase the Read more…
Effective January 1, 2020 - Blue Water Navy Vietnam Veterans Act of 2019: -VA loan limits no longer tied to FHFA Loan Limits -Purple Heart Recipients no longer subject to Guarantee Fee -Funding Fee equal for both Active Duty and Guards/Reserves Read more…
We are a participating lender for this program and one of the top lenders in the state of South Dakota for South Dakota Housing. The South Dakota Housing program is designed to help First Time Home buyers purchase a home with Read more…
Rural Development or USDA loans are a government loan program that provides up to 100% financing for people purchasing homes with populations up to 35,000 people. Income limits apply to this program, and the maximum purchase price is dependent upon Read more…
In South Dakota and many other states in the Midwest, A jumbo loan is a fixed or adjustable rate mortgage with loan amounts greater than $766,651. We have 12 Non-conforming or Jumbo lenders for which to choose from to help Read more…
FHA loans are a government sponsored loan that requires as little as 3.5% down payment. There are no income limits for this program. This loan type is best suited for those borrowers who may have previous credit challenges and is Read more…
The conventional loans are the primary loan type for most home financing that is originated today. You can obtain Conventional loans with as little as 3% down. In South Dakota, Minnesota, and Iowa, The Conventional loan limit is currently $766,650. Read more…
