30 Year Fixed Rate : 6.75 %
0 Points * APR:

15 Year Fixed Rate : 6.5 %
0 Points * APR:

Hybrid 5 Year Fixed : 0.0 %
0 Points * APR:
interest only to $2 million.

*APRS based on $200k loan amount

more rates

FHA Loans

If you are cash strapped but really want to buy a house, then we have an FHA program with a 1/2 % down payment and also FHA no money down. The 1/2% down payment FHa loan is not available for manufactured homes and is only available for SFRs, condos, and townhouses. As of the time 6/12/16 we have just two lenders offering the program. The standard FHA loan has a 3.5% down payment and requires a minimum 620 credit score, though there are some lenders that will go to 580 on this. With the lower credit score, the ratios max at 43% and buying power is diminished. With an FHA loan you will pay upfront MIP (mortgage insurance premium-1.75% of loan amount) plus a monthly premium. The upfront MIP can be financed over and above the loan amount, or paid in cash or by the seller or a lender credit. Additionally, the monthly MIP must be paid for the life of the loan.

**FHA Sapphire program**
96.5 % First Lien 3 % 2nd Lien 8.5% 15 year term 640+ Credit Score Homebuyer education required Income cannot exceed 120% of AMI for geographic area http://www.huduser.org/portal/datasets/il/il13/index.html Gifts allowed 6% Seller Credit for Closing Costs OK Non-occupant co-borrower not allowed Max DTI 45% - 680+ score to 48% DU Approve Eligible 2 years after bankruptcy required 3 years after foreclosure required

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