please send me more information on this community


      Your Name

      Your Email

      Main Content

      Types of Loans

      Mortgage Information

      You should have a detailed discussion about your personal circumstances with your loan officer to determine the best loan for you.

      Generally speaking, your credit score needs to be at 640. However, there are exceptions to that rule so make sure you discuss it with the loan officer!

      We have multiple loan options to get into your new home with ZERO MONEY DOWN. However, even though the loan is 100% financed, you have still required to front the funds for earnest money (generally 1% of sales price), option fee (generally $100), and inspections (generally range from $400-$700).

      Below is a very brief summary of some mortgage and loan types. Again, for more detailed information, please contact a loan officer directly.

      Conventional Loan

      This loan requires a minimum of 5% down. If you put 20% or more down, you are not required to escrow your taxes and insurance. Generally takes 30 days to close.

      FHA Loan

      Known as the 203B loan it requires a minimum of 3.5% down. Your MIP will stay with you for the Life of the loan if you only put 3.5% down. Escrow is always required. Generally takes 30-45 days to close.

      Another loan, the 203K loan, Is used when a buyer wants to make cosmetic repairs or structural repairs to their home; work is done after closing by the approved general contractor.

      VA Loan

      This type of mortgage is reserved for our Active Military and Veterans or Survivors. Zero down Payment. COE and DD214 must be presented and verified to qualify.

      100% USDA Loan

      Zero down payment for this loan. This is a “rural property” loan and must reside in the approved area and is income and dependent-based.

      TSAHC & SETH Loans

      Down payment assistance up to 5% of loan amount based on credit score, median income and family size. Some Restrictions to apply so speak with your lender.

      Cash Purchase

      This program is excellent for Conventional or VA clients struggling with multiple offers or clients needing closing costs assistance.

      • 620+ Credit Score
      • 5% down + 5% in reserves
      • Property Value at least $200,000
      • Single Family Homes and townhomes; no manufactured homes
      • Less than 10 acres

      Ask a DRG agent for the criteria for qualification!

      Rent To Own

      This is an option for individuals who have a below optimal credit score, have trouble qualifying for a loan, or working on credit or down payment savings. We work with qualified partners to help individuals work toward owning their homes thru a rental payment system. Ask your DRG agent for more information.

      Trade-In Purchase

      This is an excellent option for sellers who have a contingency or are having difficulty finding a home to purchase.

      • Sell your home for CASH and receive 80% of the equity within 10 days!
      • House hunt without a contingency! Close on your new house and move in!
      • Your old house gets put on the market. You get a second check!

      Ask a DRG agent for the criteria for qualification!