FHA and VA Loans
FHA Loans*
An FHA loan, offered by the government and insured by the
Federal Housing Administration, is a good option for many first-time home buyers because it generally has a much lower down payment requirement, as little as 3.5% of the purchase price.
- Competitive rates
- More flexibility in qualifying
- Refinancing options available
- 15- and 30-year fixed rate mortgages for purchase or refinance; adjustable rate mortgages 1/3 and 3/1
VA Loans
There is mortgage help available if you, or your spouse, are eligible veterans, active reservists, or active duty military personnel. The U.S. Department of Veterans Affairs (
VA) guarantees loans for eligible military personnel. These are 30-year mortgages with zero down payment and no private mortgage insurance required. They can also be assumed by other eligible veterans.
If you are purchasing or refinancing a home, our new VA mortgage program is another reason to choose Wright-Patt for your loan needs:
- 100% Financing
- Seller Concessions
- No Pre-Payment Penalty
- No Private Mortgage Insurance
- Owner Occupied (the home financed is being occupied by the mortgage borrower)
- Assumable Loans (when the home buyer takes over the obligation of the seller without any change in the terms of the new loan)
- Manufactured Homes
Check out the information on the VA website to find out how to get a certificate of eligibility.
You can always contact one of our friendly, knowledgeable
Mortgage Originators to find out more. They will help you find the right mortgage for you.
*FHA financing offered through Wright-Patt Credit Union, Inc.