| To Create Wealth for Families |
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). 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.
VA Loans
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.
Other benefits of a VA loan include:
Negotiable interest rate.
Closing costs comparable – and sometimes lower - than other financing types.
No private mortgage insurance requirement.
Right to prepay loan without penalties
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.
An FHA loan is insured by the Federal Housing Administration, a federal agency within the U.S. Department of
Housing and Urban Development (HUD). 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.
VA Loans
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.
Other benefits of a VA loan include:
Negotiable interest rate.
Closing costs comparable – and sometimes lower - than other financing types.
No private mortgage insurance requirement.
Right to prepay loan without penalties
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.
| Office Location |
| 1333 E Pioneer Pkwy Ste F Arlington, Texas 76010 Office: (817) 303-9944 Fax: (800) 976-0013 Email: info@sunemail.us |
Telephone: (817) 303-9944 * Fax: (800) 976-0013 * Email: info@sunemail.us |
| Company approved NMLS Lic #309851 |