Loan Programs

Government Loans


The Federal Housing Administration was created in 1934 in an effort to bolster homes sales during the Depression. By financially guaranteeing loans, the FHA lifts much of the risk of non-payment and foreclosure from private lenders. It is important to remember that the FHA is not a lender; they just guarantee your loan.


    Bankruptcy not an automatic disqualification

    Lower interest rates

    Down payment is less

    Lower mortgage points and other closing cost requirements

    Resale can be made more quickly

    Is backed by the U.S. government


    Down payment required

    Higher upfront Mortgage Insurance Premium (MIP) than on conventional loans but monthly MIP is lower

    Loan Limits are lower than conventional

    MIP required regardless of the Loan-to-Value (LTV)


The USDA Rural Housing Service has various programs available to aid low- to moderate-income rural residents to purchase, construct, repair, or relocate a dwelling and related facilities. USDA Rural Housing loan programs allow qualified homebuyers to get loans with minimal closing costs and no down payment.


    No down payment requirement

    Property must be located in an eligible rural area

    Closing costs can be added to the loan amount (if the property appraises high enough to include it at up to 102% of the appraised value)

    Loan government guarantee fee with no monthly guarantee fee

    Low interest rates

    Applicants with a wide range of credit profiles may qualify

    Income eligible applicants who do not qualify for conventional financing may qualify

    Families & individuals that have minimal funds for a down payment and closing costs includes first time homebuyers and repeat homebuyers

    Seller concessions – 6% max

    No cash reserve requirement

    No Non-Allowable costs

    No First Time Homebuyer Requirement

    30 Year Loan @ competitive fixed rate

    No limit on gift funds


    Property must be in very good condition and have a high insulation R-factor

    You can not make over 50% of 115% of the median county income to qualify

    Must be able to verify income limits

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NOT A GUARANTEE, OFFER OR AGREEMENT. EVERETT FINANCIAL, INC. D/B/A SUPREME LENDING NMLS ID #2129 ( 14801 Quorum Dr., #300, Dallas, TX 75254. 877-350-5225. © 2017. Information, rates, & programs are subject to change without prior notice. Subject to credit & property approval. Not affiliated with any government agency. Intended for Texas Consumers Only. Texas- SML Mortgage Banker Registration Residential Mortgage Loan Originator.