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Government Mortgage Loans

Quaint Oak Mortgage has several government mortgage loans available for prospective homebuyers, offering a variety of benefits and eligibility requirements for our customers. Our team will provide you with an overview of the different types of government mortgage loans and look for an option that works best for you.

Government Lending Options

Homebuyers have the option to obtain a government-backed loan, a type of loan administered and insured by government agencies to help facilitate homeownership. 

Some of the most popular government mortgage loans include: 

  • Federal Housing Administration (FHA) Loans: Loans Administered by the U.S. Department of Housing and Urban Development (HUD)
  • Veterans Affairs (VA) Loans: Government Mortgage Loans Insured by Veterans Affairs
  • USDA Guaranteed Rural Housing (GRH) Loans: Loans Administered by the Rural Housing Service (RHS), Part of the U.S. Department of Agriculture 

Quaint Oak Mortgage is proud to participate in these government lending options, and our experienced mortgage bankers will work to find the right solution for your unique situation.

A man is discussing a government mortgage loan with a woman in an office

Is an FHA Mortgage Right for You?

When exploring loan options, you may be wondering if an FHA mortgage is a good fit for your situation. FHA loans are backed by the Federal Housing Administration and are designed to make homeownership more accessible, especially for first-time homebuyers.

An FHA mortgage offers down payment options as low as 3.5% and often has more flexible guidelines than conventional programs when it comes to credit and debt-to-income ratio requirements. FHA loan limits vary by area they are generally the least restrictive of all government loan programs.

If you’re considering an FHA mortgage, reach out to a member of our team to navigate the process and determine if it fits your homeownership goals. We can help you determine if an FHA mortgage aligns with your financial profile and homebuying goals.

Veteran shaking hands with mortgage banker after signing a VA mortgage loan

VA Mortgage Loans: You Serve Us, Let Us Serve You

We are honored to assist our nation’s heroes in obtaining VA mortgage loans. A VA loan is a type of government insured mortgage available for active-duty military members, veterans, National Guard, Reservists, and their spouses. 

With no monthly mortgage insurance, low down payment, and competitive fixed interest rates, a VA mortgage loan offers a way for those who have served our country to achieve their dreams of homeownership.

USDA Guaranteed Rural Housing Loans

USDA guaranteed rural housing loans are designed to provide borrowers in rural areas with a path to homeownership. This program is unique in that eligible borrowers can finance 100% of the appraised value. That means if the appraised value of the home is greater than the sales price, a borrower can finance eligible loan closing costs, reducing out-of-pocket expenses. The up-front and monthly mortgage insurance premiums are usually lower than those of FHA loans, and borrowers can feel secure with a 30-year fixed-rate mortgage. 

Unlike VA and FHA loans, the GRH loan program has both income limitations and location requirements. Properties must be for primary residence occupancy only and must be located in an area deemed rural by the USDA. Additionally, all members of the household, whether on the loan or not, must fall under income limits for the area. First time homebuyers and repeat homebuyers may qualify for this unique mortgage product. Contact one of our experienced mortgage bankers today to see if you meet the criteria for a USDA GRH loan.

Finding the Right Government Mortgage Loan

Quaint Oak Mortgage offers personalized guidance to help you find the government mortgage loan solution that fits your buying circumstances. Our team of mortgage experts can review the requirements and benefits of each option, and walk you through the application process. Contact us today to learn more and get started.