Federal Housing Administration (FHA) home loans
Advantages of FHA loans:
- Up to 96.5 percent financing on some loans; 100 percent of a down payment can come in the form of a gift from a family member or employer
- Seller can contribute up to 6 percent of a sales price to help with closing costs and prepaid items for a homebuyer
- May be a viable option for borrowers with limited equity or money available for a down payment
- Option to choose a fixed-rate or an adjustable-rate mortgage (ARM) that adjusts annually after 5 or 7 years and offers protection from large interest rate increases at any one time
- 203k renovation rehab construction programs. Purchase or Refinance a home in need of repair or renovation.
What you’ll need to consider:
- You can finance your mortgage insurance
- Typically you will pay mortgage insurance for the entire term of the loan.
- FHA home loans have a $765,600 maximum loan amount (in designated areas)
- The interest rate on Adjustable Rate Mortgages (ARMs) may increase after the initial fixed-rate period.
Home Financing
At Devon Bank, we offer many types of home financing to meet your goals. We offer community banking with personal service, delivering national mortgage programs.
Home financing is available for varying terms and financing amounts. We offer residential financing in most states in the US.
Purchase Programs
- Direct Fannie Mae and Freddie Mac lender
- Fixed and Adjustable rates
- Conforming & Super Conforming Loans
- Jumbo Loans
- Special first time home buyer programs
- Low down payment with down payment assistance options
- FHA, VA loans
Refinance Loan Programs
- Fixed and Adjustable rates
- Conforming & Super Conforming Loans
- Jumbo Loans
- FHA, VA Loans
- Debt consolidation loans. Pay off revolving dept, student loans, unsecured high interest loans etc.
Ready to take the next step and achieve your American dream? Experience the Devon Bank difference, where we’ll ensure a smooth, seamless transaction at the most competitive rates while providing excellent, personalized service. We are passionate about every customer’s home financing journey and committed to providing the best programs and options while keeping everything stress free and simple for you. Give us a call today.
*Please do not send confidential information via e-mail.