- No Closing Cost Loans
- No Income Verification Loans
- Dscr Loans
- Home Affordable Refinance Program
- USDA/RHS Loans
- Energy Efficient Mortgage Pilot Program
- Imperfect Credit Loan
- VA Loans
- FHA Loans
- Non-QM
- No Document Loans
- Home Equity
- Interest Only Loans
- Jumbo Loans
- Conventional Loans
- Conforming Loans
- Mortgage Loan Types
Government Loans
Government loans are guaranteed loans by one of two federal agencies, allowing lenders to lend money with miniscule risk. However, government doesn't lend the money, they do guarantee repayment to the lender and ensure any potential loss that may incurred if any loan go into default and subsequently foreclosure. There are two types of government loans.
- Federal Housing Administration (FHA) loans,
- and Veterans Administration (VA) loans.
The advantages of financing using FHA loans are that they are easier to qualify for, and allow a borrower to finance more of the loan amount than non-government loans. With a Conforming Loan a borrower may only be able to finance 80% of the loan amount, a FHA loan allows a borrower to finance 97% of the loan amount. FHA loans are recommended for those borrowers who are first-time buyers, have low down payment, have a short credit history, or are having trouble qualifying for a Conforming Loan.
The two main advantages of financing using VA loans are that the VA allows borrowers to finance 100% of the loan amount, and that, the VA only requires proof of veteran status to qualify for the loan. The only drawback to government loans is that mortgage insurance is required at all loan to values (LTV), unlike Conventional and Jumbo loans where payment of mortgage insurance is determined by the amount of equity a borrower has in his home.
FHA loans are offered as both 15 and 30 year fixed rate mortgages and 1 year ARMs. The primary advantages of FHA loans are their low down payment requirement and their less stringent qualification requirements. Although FHA loans are not restricted to first-time homebuyers they are well suited for the first-time buyer. The FHA 1 year ARM product is particularly appealing due to its adjustment interval cap of 1% (vs. 2% on most conforming ARMs) and its lifetime cap of 5% (vs. 6% on most conforming ARMs).
Call our loan advisor at 844-879-7976 or click the button below to request a free consultation with one of our mortgage advisors.
Free Consultation Request
Richard Viana
Working with Dosh was a seamless experience. They were professional, responsive, and provided the funding I needed quickly with clear terms. Highly recommend Dosh for reliable money lending!
4 months ago
Enomax Max
Dosh is phenomenal, very professional and knowledgeable. We’ve done business with him on many occasions and he always delivered and exceeded our expectations. We strongly recommend him.
4 months ago
Natasha Williams
My lender Dosh is the best EVER! Dosh and his team has been nothing but professional, understanding give good guidance and patient
4 months ago
Carolina V
Lendstar has been amazing to work with! We have worked on several loans including new construction and refinance. They have such a professional, quick and effective team that I can’t recommend them enough!
4 months ago
Beatriz Gutierrez
Dosh made the last 2 transactions easy, I am extremely pleased with my experience. Dosh kept me updated at every step. Thank you!
4 months ago
Our exceptional reputation as a mortgage company has been built on our capability to provide quick financing solutions for borrowers. Having an experience of many years in commercial and residential loans, we are able to process your loan application quickly.
NMLS ID 2490276
