Government Loans

Government Loans

If you’re considering buying a home but are concerned about the challenges that come with traditional financing, let me introduce you to two exceptional government-backed loan options: FHA Loans and VA Loans. Whether you’re looking to purchase, refinance, or get cash out, each is tailored to your specific needs, but both can be a game-changer in helping you secure your dream home.

FHA Loans – Flexible, Assessable and Affordable

You don’t have to let a large down payment or less-than-perfect credit stand in the way of your dream home. An FHA loan offers flexible financing and gives you the opportunity to become a homeowner sooner, with affordable interest rates and lower costs and terms that are designed to fit your life.

  • Low Down Payment: With an FHA loan, you can put down as little as 3.5% of the purchase price, making homeownership more affordable, especially for first-time buyers.
  • Flexible Credit Requirements: Unlike conventional loans, FHA loans are more forgiving when it comes to credit scores. If you’ve had a few financial slips, you may still qualify.
  • Competitive Interest Rates: FHA loans often offer lower interest rates compared to traditional loans, which means more savings over the life of the mortgage.

FHA products we offer:

  • FHA 203(b)
  • FHA 203(k)
  • FHA 203(h)

VA Loans – The Ultimate Home Benefit for Veterans and Active Duty Military

VA Loans are designed to give back to the men and women who have served our country by offering home loan financing with no down payment, no PMI, and lower interest rates, it’s the most powerful home loan option for veterans and active-duty military personnel.

  • Zero Down Payment: That’s right—zero down payment. While most conventional loans require a down payment, VA loans allow you to buy a home without putting any money down. This means you can have the American dream sooner rather than later.
  • Private Mortgage Insurance (PMI): Conventional loans require PMI for loans with less than 20% down but PMI is not required with a VA loan, leading to lower monthly payments and significant savings.
  • Competitive Interest Rates: VA loans feature lower interest rates compared to conventional loans. This helps reduce your monthly mortgage payment and substantial saving over the life of the loan.
  • Flexible Credit Requirements: Even if your credit history isn’t perfect, you may still qualify for a VA loan, giving you access to affordable homeownership.
  • Lifetime Benefit: The VA loan benefit is available to you for life. Whether you’re buying your first home or moving to a new one, you can use the VA loan multiple times, as long as you qualify.

 

Ready to take the next step?

 

Looking for a specific product not listed above? Call today to find out more about our loan products.

 

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Encore Mortgage Funding, Inc.

(954) 568-5473
1 East Broward Blvd. #700
Fort Lauderdale, FL 33301

Company NMLS ID 362848
MLO NMLS ID 339320
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