• Fixed-rate Mortgages – conforming and jumbo
  Standard Conventional Fixed Rate Mortgage
  3% Down Conventional Fixed Rate Mortgage
  FHA Fixed Rate Mortgages
  VA Fixed Rate Mortgages
  
  
• Adjustable Rate Mortgages (ARMs) – conforming and jumbo
  FHA 1 Year Adjustable Rate Mortgage
  FHA 3 Year Adjustable Rate Mortgage
  VA 3 Year Adjustable Rate Mortgage
  3 Year Conventional Adjustable Rate Mortgage
  5 Year Conventional Adjustable Rate Mortgage
  7 Year Conventional Adjustable Rate Mortgage
  10 Year Conventional Adjustable Rate Mortgage
  5 Year Conventional Interest Only Adjustable Rate Mortgage
  
  
• Home Equity Loans and Lines
  Home Equity Lines of Credit
  Home Equity Loans

FHA 5 Year Adjustable Rate Mortgages
Construction and Renovation Mortgages
Reverse Mortgage Loan Program
Washington State Bond Program
Oregon State Bond Program

FHA loans are mortgages issued by government-approved lenders and insured and administered by the U.S. Department of Housing and Urban Development HUD. FHA mortgage loans generally have less stringent qualification requirements than conventional loans. Any borrower of legal age is eligible to apply for an FHA mortgage loan regardless of income level, including non-U.S. citizens. However, FHA does limit the maximum amount an individual can borrow under this program based on the location of the property.

If you are looking for a loan that requires a minimal down payment, you should compare both Conventional and FHA loan types to determine which financing type is best for you.

VA loans are loans guaranteed and administered by the Department of Veterans Affairs and are offered as a benefit to qualified individuals who have served in the armed forces. The significant advantage of a VA loan is that a down payment is not required. If you are a qualified veteran and wish to purchase a home with little or no down payment, a VA loan may be your best bet. If you have funds that you wish to use for a down payment, it is wise to compare Conventional loans with VA loans to determine which financing type is best for you.

To officially determine if you are a qualified veteran we will need a Certificate of Eligibility from the VA. If you are unable to locate your Certificate please contact your Loan Officer for assistance. Additional information about VA home loan eligibility requirements, are available on the VA website at the following address:

In general, any veteran who served on continuous active duty during the timeframes and for the number of days listed below and has received an honorable release or discharge is eligible for a VA home loan:

World War II (09/16/40 to 07/25/47) - 90 Days

Pre-Korean (07/26/47 to 06/26/50) - 181 Days

Korean Conflict (06/27/50 to 01/31/55) - 90 Days

Post Korean (02/01/55 to 08/04/64) - 181 Days

Vietnam Conflict (08/05/64 to 05/07/75) - 90 Days

Post Vietnam (05/08/75 to 09/07/80) - 181 Days (Enlisted)

Post Vietnam (05/08/75 to 10/16/81) - 181 Days (Officers)

Pre-Persian Gulf (After 09/07/80) - 24 Months (Enlisted)

Pre-Persian Gulf (After 10/16/81) - 24 Months (Officers)

Persian Gulf (08/02/90 to TBD) 2 Years or period called to active duty (not less than 90 days)

In addition, the following individuals may also be eligible for a VA home loan.

• Reservists or National Guard members who have served at least six years.
• Veterans discharged due to service related disabilities, even if the timeframes above are not met.
• Surviving spouses (not remarried) of veterans who died as a result of service connected injuries or diseases during service or after separation.
• Commissioned Public Health Officers, National Oceanic and Atmospheric Administration Officers, Environmental Science Service Administration Officers, and Coast and Geodetic Survey Officers.

Insurance and Requirements

Both VA and FHA loans are insured and administered by the federal government. Because the government insures a portion or the total dollar amount of these mortgage loans, FHA and VA loans generally require lower down payments and have lower qualification requirements than Conventional loans.

There are some Conventional loans that allow for low down payments as well. It is always a good idea to compare all eligible loan programs before determining which is best for your situation.

Eligibility

Unlike Conventional and FHA loans where anyone is eligible, only qualified veterans can obtain VA loans.

Loan Amounts

Unlike Conventional loans, FHA has established maximum loan amounts that limit the amount an individual can borrow based on the area that the home is located in. VA loan amounts are calculated using a formula based on the amount of your entitlement. Your loan officer can help you determine how much you may be eligible to borrow.