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We want to help you get into the home of your dreams! Before you start looking, contact a loan officer at JSB Mortgage to get pre-qualified and make your home-buying process easy. Whether you qualify for a USDA, FHA, VA or Conventional Loan, or if you just want to refinance your current loan, we’ll help you find the mortgage that’s right for you! We’ll help you navigate the mortgage process so you can start focusing on making your new house your home.
Want to know more? Review the information below to learn more about the types of loans we offer, and contact us today to get started!
USDA Loans
The USDA loan program allows buyers to purchase a primary residence without a down payment while obtaining a favorable interest rate, often lower than other loan programs.
USDA borrowers pay an annual fee of 0.35% of the total loan amount. This fee is divided into 12 equal, monthly payments. USDA also charges a one-time, upfront funding fee of 1.0% of the loan amount, which can be rolled into the loan.
This program can be used on primary residences in qualifying rural areas. Annual household income limits apply and unlike other loan programs, daycare and other allowable expenses may be deducted to help you qualify. Our professional staff will help you navigate the eligibility process.
FHA Loans
FHA Loans are a great way to save money on your home purchase or refinance. Because these loans are insured through the federal government, FHA loans can be easier to qualify for than conventional home loans.
FHA loans have low down payment requirements, which can be as little as 3.5%. FHA Loans do carry a 1.75% upfront mortgage insurance fee and this fee may be rolled into the loan. FHA borrowers are charged monthly mortgage insurance in addition to the upfront fee.
VA Loans
VA Loans are guaranteed by the U.S. Department of Veterans Affairs (VA) and made to eligible veterans for the purchase, building or refinance of a home. Advantages of the VA loan program include: no private mortgage insurance requirement, no pre-payment penalties, available counseling and assistance for borrows with financial difficulty and many others.
Although mortgage insurance is not required, VA charges an upfront funding fee to issue the guarantee. This fee is typically financed into the loan but may also be paid upfront by the buyer or seller. A veteran may be exempt from this fee if they are disabled due to a service-related injury.
A VA loan can also be used for energy-saving home improvements such as solar, heating/cooling systems, water heaters or other enhancements approved by the lender and VA. We are proud participants of the VA loan program.
Conventional Loans
Conventional Mortgages are your standard traditional mortgages. They are not insured or guaranteed by the government like FHA and VA. Fixed and adjustable rates are available, however, fixed rates are the norm in today’s lending environment.
With 20% down you will have no monthly mortgage insurance and unlike government loans, there are no funding fees. However, with a down payment less than 20% you will incur monthly mortgage insurance premiums (you can put as little as 3% down).
Interest rates vary quite a bit on conventional loans because they are not guaranteed by the government. Credit score and down payment play a huge role in determining the interest rate you will receive. We are pleased to offer competitive rates and closing costs.
Refinance Your Loan
If you already have a mortgage on your current home, your loan can be refinanced in order to get a better interest rate. We’ll walk you through each step of the refinancing process, making your experience easy!
Financial Tools
Financial Calculators
Use our financial calculators to help you determine your cash needs for your next purchase.
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