FHA  This is a great loan backed by the Federal Government/HUD , to help borrowers get into a home.  FHA currently requires a 3.5% down payment which can be a gift from a family member or employer.  This is the most common loan for first time home buyers and has lower credit score requirements than conventional type financing offered by a bank.  The current maximum loan amount for 2010 is $346,250.

FHA 203K  This loan allows a buyer to get additional money for rehabilitation on the home they are going to be purchasing.  This is a great loan to use when buying a foreclosure or short sale that needs work.  This important loan can help revitalize neighbors and expand homeownership opportunities.

Conventional  This loan requires 10% down payment in Maricopa county for 2009.  You can get a fixed 30,25,20,15 and 10 year term loan or a 3,5,7, or 10 ARM loan.  The maximum loan amount for Maricopa county is $417,000 for 2010.

Jumbo  This loan requires 25% down payment in Maricopa county for 2010 and is used for loan amounts from $417,000 to $1,500,000.  Higher credit scores are required and 3,5, and 7 year ARMS are the most common type of financing.

Mortgage interest is easily one of the most significant barriers to building wealth, often consuming half of a typical borrower's take home pay.  Until now, saving interest required painful extra payments, bi-weekly loans, or 15 year loans with any extra payments being permanent.  But now, there's a loan solution that 's effortless, offers unmatched efficiency and effectiveness.  Perfect for money savvy clients.

As a Certified Home Ownership Accelerator loan officers, We can answer your questions about this new and exciting program and see if it will be a good fit for your financial future.  You can view a 5 minute view on how the program works at: http://www.hoamovie.com

Savvy home owners can try out the simulator to see if this loan makes sense for you or not.  Input your income, expenses, debts, and interest rate assumptions and the simulator will show you how much interest you can save over the life of your loan and how much faster you can pay off your loan.  You can test out the calculator by going to: http://www.homeownershipaccelerator.net/data/Simulator/

For more information you can visit www.homeownershipaccelerator.net

USDA loans are primarily used to help low-income individuals or households purchase homes in rural areas.  There are income limitations and specific location requirements.  This program is a zero down loan, 30 yr fixed, and no monthly mortgage insurance required.  Contact us for more details on this programs requirements.