Our loan officers are professionals dedicated to providing personalized service. Based on your needs, we will provide you with the best mortgage options and solutions.
The Federal Housing Administration mortgage programs help promote homeownership for families across the United States. Underwriting standards are less conservative than for conventional mortgages. With a lower cost of financing, reduced down payment requirements, and the allowance of gift funds this program may be the solution you are looking for.
A conventional mortgage is a home loan that conforms to the guidelines and loan limits set forth by Freddie Mac and Fannie Mae. You can get a conventional loan at a fixed or adjustable rate. Conventional loans allow greater flexibility in purchases and down payment options. Currently, the conforming loan limit is $453,100.
Great Western is an approved lender for VA mortgage loans which are guaranteed by the U.S. Department of Veterans Affairs. We provide these loans to active-duty military, veterans, reservists, members of the National Guard, and eligible surviving spouses of veterans.
The VA mortgage allows for 100% financing without requiring mortgage insurance for both home purchase and refinance transactions.
USDA mortgage loans are designed to encourage growth and development in rural areas. Eligible borrowers must purchase homes in areas defined by the U.S. Department of Agriculture and have a household income within the established limits set forth by USDA.
Additionally, these loans provide up to 100% financing.
Jumbo mortgages are used for first-lien mortgages where the loan amount exceeds the threshold for conforming loans. For example, in Texas is the conforming loan limit is $453,100 for a single family home. Jumbo loans are available for primary residences, investment properties, and second homes or vacation properties. These mortgages are available with fixed or adjustable rates.
Another term for a Jumbo mortgage is a non-conforming mortgage. Meaning these types of mortgages do not conform to Fannie Mae or Freddie Mac loan guidelines.