Nowadays, qualified lenders have been granted approval to offer government loans. This has made it quite a cinch for qualified borrowers to access funds conveniently. At Huron Valley Financial, we offer loans to borrowers who meet specific credit and income requirements, and each county has its maximum loan amounts. Your credit score is not considered, but we review your overall credit profile. Here are the loans we offer:

FHA Loan

This is a mortgage loan that is insured by the Federal Housing Administration, and it’s used to purchase or refinance an occupied property. The borrower needs to pay a 3.5 percent down payment, which can be his or her money, or a gift from a relative. Co-signing is allowed for this loan, and there are loan limits depending on the location of the property.

FHA 203K Loan

For borrowers who want to purchase an old or damaged home and make renovations, then the FHA 203K Loan is the right option. A professional contractor should carry out the project, and the homeowner is not allowed to do any of the tasks. The down payment requirements are minimal, and it also has a decent interest rate.

VA Loan

The VA loan is a mortgage loan that is offered to eligible American veterans, unmarried spouse of a Veteran, spouse of a service member missing in action, or a spouse of a disabled veteran. Borrowers enjoy up to 100 percent financing without the need for private mortgage insurance. Veterans must provide copies of the DD-214 and Certificate of Eligibility.

USDA Rural Housing Loan

This is a no money down mortgage loan available to borrowers who are interested in buying property in rural areas. This loan is available to borrowers who are below-average and offer 100 percent financing with a 30-year fixed interest rate. It requires homeowner paid mortgage insurance, but the premiums are low.

MSHDA Loan

The Michigan State Housing Development Authority offers loans to new or seasoned homebuyers. Additionally, it also offers financial and technical support to individuals and partnerships that are looking to create safe, affordable housing or engage in other development activities. There are several programs offered, including the property improvement program, c811 program for the homeless, and housing choice voucher for renters.

At Huron Valley Financial, we try to empathize with every situation to ensure that our clients get quality loan programs. Our team is always available to help you get the house you want.