Compadre Mortgage VA Loans
A VA loan is a mortgage loan that’s backed by the Department of Veterans Affairs (VA) for those who have served or are presently serving in the U.S. military. While the VA does not lend money for VA loans, it backs loans made by private lenders (banks, savings and loans, or mortgage companies) to veterans, active military personnel, and military spouses who qualify.
FHA Loans by Compadre Mortgage
FHA Loans
An FHA loan is a mortgage that’s insured by the Federal Housing Administration (FHA) with lower down payment and easier credit qualifying . They are popular especially among first time home buyers because they allow down payments of 3.5% for credit scores of 580+. However, borrowers must pay mortgage insurance premiums, which protects the lender if a borrower defaults.
Down Payment Advantage Program
Purchase your home with as little as 1.5% of the purchase price.
2% down payment assistance for first time home buyers plus a wide variety of additionally eligible borrowers. Reduce your total down payment to 1.5%.