Buying a home should be one of the most rewarding experiences in your lifetime, especially if you’re a first-time homebuyer. The more you know about your mortgage options the better. At Nutter, we’ll make sure you get the right mortgage for your situation.
Conventional Loans: Also known as “conforming mortgages” because they conform to guidelines established by large institutional investors - Fannie Mae and Freddie Mac, allowing mortgages to be more widely available. For home loans up to $484,350 with fewer qualifying guidelines and multiple loan terms offered.
FHA Loans: One of the most popular types of home loans, especially for first-time home buyers. Low down payment requirements, flexible loan terms, and overall the easiest way to qualify for a home loan.
VA Loans: Exclusive to active-duty military service members, Veterans and their families - finance up to 100% of your VA Loan and pay less at closing.
HomeReady Mortgages: This new program allows home buyers to purchase a home with a down payment as low as 3%. Its flexibility offers a wide range of borrowers to attain homeownership.
USDA Loans: For home buyers who plan to live in a rural area - offers 0% down and 100% financing sponsored by the USDA to promote affordable homeownership in less-dense communities across the U.S.
Jumbo Loans: For loans above the conforming limit in your area and up to $1.5 million. Get a low, secured rate for higher-priced homes.
At Nutter, we offer a variety of mortgage programs to suit every borrowers specific needs. When choosing which type of home loan is best for you, one of the most important features to consider is the type of interest rate that will be used - a fixed rate or an adjustable rate.
Fixed Rate: Just as it implies, a fixed rate will stay the same for the life of your loan, which means your month-to-month mortgage payment will be consistent. Available for loan terms of either 10, 15, 20, or 30 years.
Adjustable Rate Mortgage (ARM): interest rates that remain the same for an initial period of either 1, 3, 5, 7 or 10 years; then “adjusts” each year thereafter based on market conditions.
Since 1951, we’ve helped people save hundreds, or even thousands of dollars a month, when they purchase or refinance their mortgage with Nutter.