Tuesday, April 16, 2013

Benefits of USDA Loans and FHA Loans


First State Bank Mortgage provides a full portfolio of fixed and adjustable-rate mortgage products - whether you’re a first-time homebuyer or are looking to refinance a current loan.  There are different types of loan that will be applicable to your situation - as your Lake of the Ozarks Mortgage Lender, I will help you determine the right loan for your home purchase.   

This week I am going to cover FHA Loans and USDA Home Loans. 

FHA Loan Programs offer competitively-priced rates and a low down payment option – whether you’re looking to purchase a new home or refinance your current loan.

Benefits of an FHA Loan:
  • Flexible credit and underwriting standards
  • Low closing costs
  • Fixed and adjustable-rate mortgages available
  • Down payments as low as 3.5% of sales price
  • Competitive rates on new home purchases and refinances
  • In-house processing and underwriting          

USDA Rural Housing Loans, sponsored by the U.S. Department of Agriculture, are designed to make home ownership more affordable for borrowers in rural communities. For qualified borrowers, a Rural Housing loan can provide up to 100% financing with competitive rates and terms.

Benefits of a USDA Home Loan:
  • Up to 100% financing
  • NO monthly mortgage insurance premiums due
  • Low closing costs
  • Affordable fixed rates
  • Flexible credit and qualifying guidelines
  • Available on new or existing homes
I hope this information is helpful to you but I realize you may need more information.  Feel free to give us a call - we can set up a time to answer all of your questions and discuss which Home Mortgage Loan option is right for you!!   My contact information is listed below!  

Be sure to watch for next week's blog - I will cover the VA Home Loans and First Time Homebuyer Programs.  

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Michael Lasson
Sr. Residential Mortgage Lender

2140 Bagnell Dam Blvd, Suite 303B
Lake Ozark, MO 65049
Direct:  (573) 746-7211
Cell: (573) 216-7258

Fax:(573) 693-9141
Email:  mlasson@fsbfinancial.com
NMLS #: 493712


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