Homeway Mortgage

FHA, the Federal Housing Administration, is a governmental agency established during the Great Depression to develop national standards of housing and encourage home ownership.
The FHA Mortgage Loan is a smart mortgage investment for either a purchase or refinance, because the FHA mortgage rates are at historic lows.
Not to mention, the flexibility of the guidelines make it easier for people to become qualified.
Backed by the Department of Housing and Urban Development, this mortgage loan offers the borrower the ability to put as little as a 3.5% down payment and you can even finance allowable closing costs when finalizing the sale of property.

An added benefit is that VA waives the VA Funding Fee for disabled Veterans (up to the discretion of the VA.).
The VA Mortgage Loan was recognized in 1944 through the GI Bill of Rights.
The GI Bill was signed into law by President Franklin D. Roosevelt and gave veterans a guaranteed home with no down payment.
Created to give housing and support for both veterans and their families, the dream of home ownership has become a reality for millions of veterans since the passing of this act.
Still tremendously important today, HomeWay Mortgage opens its doors to eligible veterans looking to buy a home.

A Jumbo Loan (loans that exceed $548,250) is a loan that has an amount over the usual limit, and therefore, the lenders usually charge a higher interest rate.
Jumbo Loans offer a 30 and 15 year fixed rate mortgage and competitive ARM products with full document, alternate documentation and limited documentation.
Cash out and No cash out refinances are allowable.
Single family detached, Condo's, PUD?s and single-family second homes can be financed with no prepayment penalty.
HomeWay Mortgage is your number one source for incredible Jumbo Loan Mortgage Rates.

80/15/5 loans, loans that are only available in Texas and Colorado, are sometimes called combination financing or piggyback loans and offer an affordable way to provide financing for a purchase, refinancing, home improvement, or debt consolidation transaction.
This is a loan which carries a second mortgage for up to 15% of the purchase price of the property.
It is usually used when wishing to avoid PMI insurance or to keep your first mortgage under the FNMA/FHLMC limit to avoid Jumbo rates.
The borrower puts 5% as a down payment and then finances a first mortgage up to the FNMA/FHLMC limit and a second mortgage of up to 15% of the purchase price.

When you are building your dream home you need a solid lending partner to provide you with clear guidance and expertise.
Born in the financial arena, and trained for decades in the art of lending, HomeWay Mortgage can easily guide you toward making your dreams a reality.
The Interest Rate is fixed for 5 to 10 years (depending on the program) then adjustable thereafter.
Interest only payments are due during the construction period and then the loan is amortized once complete.
Interest only payments are due during the construction period.