Which type of loan is right for you? This is a question that every borrower must consider. Several options are available based on your personal needs, so let the First Ohio Home Finance, Inc. professionals help you determine the best opportunity for you.
Conventional: This is the most common loan type. If you have good credit, then get rewarded with great rates through Fannie Mae and Freddie Mac.
FHA (Federal Housing Authority): Insured by HUD, these loans are eligible for purchasing, refinancing and home repairs.
VA (Veterans Affairs): These government-insured loans for past or present members of our armed forces are available for purchasing or refinancing.
USDA (Rural Development): These are unique purchase or refinance loans for less populated areas.
HARP: This conventional mortgage allows homeowners with mortgages owned or guaranteed by Fannie Mae or Freddie Mac on or before May 31, 2009, the ability to refinance over 80% of the value of their home without mortgage insurance. The program has its own guidelines and allows for refinancing over 100% of the home’s value.
Fixed-Rate Loan
Adjustable Rate Mortgage (ARM)
Second, Vacation, Investment, Rental Property: Special financing options are available for these properties.
Less-than-perfect credit: We understand that people fall on hard times; we offer competitive rates.