FHA / VA / HARP

FHA Loans

BENEFITS OF FHA LOAN:

Typically an FHA Loan is one of the easiest types of mortgage loans to qualify for because it requires a low down payment (3.5 percent). Borrowers who can't afford a traditional down payment of 20 percent or can't get approved for private mortgage insurance should look into whether an FHA loan is the best option for their personal scenario. Another advantage of an FHA loan is that lt can be assumable, which means if you want to sell your home, the buyer can "assume" the loan that you have. People who have low or bad credit, have undergone a bankruptcy (such as layoff or long term illness or disability) or have been foreclosed upon may be able to still qualify for an FHA loan.

With an FHA Loan, you are able to use gifts (a monetary gift from a family member) towards down payment and closing costs.

There are no prepayment penalties with a FHA loan, allowing you to refinance or pay off your home early without having to worry about paying an extra fee.

We have got a home loan program for good customers like you, our FHA Program offers affordable loans, fixed rate or adjustable rate.

Mortgage Services is a FHA Mortgage Broker, and we specialize in Government Insured Loans.

 


 

VA Loans

WELCOME

We have been waiting for you!

Great loan programs for Veterans with ZERO Down.


The Veterans Affairs loan is specific loan program to HELP veterans, active-duty service members and their families purchase a home . Authorized by the US Department of Veterans’ Affairs, this loan option allows Military families to qualify.

What Are the Benefits of a VA Loan?

  • No down payment required
  • No monthly mortgage insurance premium
  • Low to no reserve requirements
  • Credit scores as low as 620
  • VA Jumbo with loan amounts as high as $1.5 million are available
  • Variety of fixed and adjustable rate loan options available
  • Seller and lender may contribute to veteran’s closing costs.


We do HARP Loan too!

Call us today to learn more about this program.

Mortgage services 1-650-401-2331

 

 

 

HARP 2.0

Help for Homeowners- What is HARP? Making Home Affordable Refinance Program

HARP is unique-it's the only refinance program that enables eligible borrowers with little to no equity in their homes to take advantage of low interest rates and other refinancing benefits. There have been several changes to HARP, but the primary enhancement removed the limit on the amount that homeowners could be "underwater" (owe more on their mortgage than their home is worth). With that change, many homeowners who were not eligible will now qualify.

HARP may be an option if:

  • You have had a good payment history for the past 12 months. That means having no late payments in the last 6 months and no more than one 30-day late payment from 6 to 12 months ago.
  • Your home is your primary residence, 2nd home or investment property.
  • Your home value has decreased.
  • You have limited equity or your first mortgage exceeds the current market value of the home (i.e. your loan-to-value ratio must be > 80% to be eligible).
  • Your loan is owned or guaranteed by Fannie Mae or Freddie Mac.
  • Your loan was acquired by Fannie Mae or Freddie Mac on or before May 31, 2009 (that date can be found in the Loan Lookup results).
  • A lower monthly mortgage principal and interest payment;
  • A lower interest rate;
  • A shorter amortization term (a loan for fewer years); or
  • A more stable mortgage product, for example, movement from an ARM to a fixed-rate mortgage.

We can determine whether your mortgage is owned by either Freddie Mac or Fannie Mae.