Mortgage Loan Programs

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CONVENTIONAL MORTGAGE

  • Purchase or refinance
  • Fewer restrictions
  • For borrowers with good credit scores and larger down payments (3%)
  • Have the ability to finance the construction or the purchase and home improvements/renovations in one loan 

Conventional loans offer fixed and adjustable terms as well as many different options to lessen any required private mortgage insurance or even get rid of it all together.

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FHA & 203K Renovation Loans

  • Purchase or refinance
  • Lower down payments (3.5%)
  • For borrowers with lower/average credit scores and/or income restrictions
  • Have the ability to finance the construction or the purchase and home improvements/renovations in one loan

FHA loans are backed by the Federal Housing Administration and as a result, these loans are easier to qualify for while still offering a competitive interest rate.  

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VA 100% FINANCING

  • Purchase or refinance
  • Designed to help American Veterans 
  • Zero downpayment / 100% financing with lenient underwriting requirements
  • Finance home improvements

Veterans of the US Military can take advantage of VA Loans backed by the US Department of Veterans Affairs.

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USDA 100% FINANCING

  • Designed to finance a home purchase in rural areas
  • Zero down payment / 100% financing
  • Minimal monthly mortgage insurance
  • Have the ability to finance the construction or the purchase and home improvements/renovations in one loan 

Rural Development Loans are for buyers who are interested in purchasing a home in a rural area as determined by the US Department of Agriculture.

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REVERSE MORTGAGES

  • Senior citizens can eliminate their house payment
  • Use the equity of your home during retirement to fund your living expenses
  • Stay in your home through your retirement years

You can eliminate your traditional mortgage payments and/or access your home equity while still owning and living in your home. Given the right set of circumstances a Reverse Mortgage can be an ideal way to increase your spending power and financial security in retirement. 

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OTHER PROGRAMS

  • Native American Home Loans
  • The "All In One"!
  • Jumbo loans
  • New Home Construction loans
  • Condominium loans
  • Mobile home loans
  • Bank Statement Programs
  • Home Renovation
  • Home Equity oans
  • And More!!!

Centennial Home Mortgage offers a variety of mortgage programs to help you and your family buy a home. Contact us today to discuss your particular needs and how Centennial Home Mortgage can help you.