Data Mortgage Programs - FHA and VA Government Loan Mortgage Programs

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FHA and VA Mortgages™

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Government Loan Programs

Even if you don't have much cash for a down payment and/or closing costs, we have programs to help you become a homeowner. Here is a list of loan programs with little or No Down Payment.

FHA Mortgage

FHA Mortgages, which are insured by the Federal Housing Administration, make homeownership possible for people who might not qualify for conventional mortgage programs. They offer:

Low down payment and closing costs, with the option to use gift money for 100% of the down payment.
Flexible approval requirements for people who have less-than-perfect credit or lack a traditional credit history.
Expanded qualifying ratios for people with low-to-moderate incomes.

FHA Resource Center: http://www.hud.gov/groups/lenders.cfm

VA Mortgage

VA Mortgages, which are insured by the Department of Veterans Affairs, make buying a home easier and more affordable for veterans, reservists, and active-duty service members. They offer some of the easiest approval requirements of any mortgage, including:

No down payment requirement, so you can finance 100% of the purchase price.
The option to use gift money or secondary financing.
Flexible credit requirements.
Expanded qualifying ratios.

Government Mortgages Comparison

Loan Program	How It Works?	Why Consider It?
FHA Mortgage	Requires only 3% for down payment and closing costs, which may come from gifts, grants, or unsecured loans.	A good option if you’ve had credit challenges Makes homeownership easier for people with lower incomes.

VA Mortgage	Government-backed mortgage that lets veterans and eligible family members buy with no down payment.	Rewards military service with homeownership opportunities Income and credit requirements make qualifying easier.

Terms and conditions apply. Some programs may not be available in all states and they may change without notice. State restrictions and limitations may apply. This is for educational purposes only. Contact your Data Mortgage Reverse Mortgage loan representative for complete details.

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