Purchase Loans

FHA Loans and for some people Better Than FHA Loans

Rate One Mortgage offers many loan programs that allow you to purchase a home with little or no down payment. You can chose from our 3% down conventional, FHA in many areas, zero down 100% financing and 103% financing where you can use the extra 3% or 5% toward paying closing costs. [What is the difference between conventional and government mortgages?]

Some of these loans are much more flexible than FHA. Some of the benefits are:

NO Income Limits
NO Home Value Limits, loans up to $300,000
NO MIP paid at closing
NO Special appraisals

You may chose between fixed rates or a variety of ARMs loans. You may purchase single family homes that are approved condos, PUDs or manufactured homes. Money for the 3% down payment program can come from alternative sources such as:

Gifts from relatives or disinterested third party,
Government agencies or grants from non-profit organizations
Unsecured personal loans (including credit cards)
Employer

Closing costs money may come from seller contribution up to 3%, gift, grant or lender premium pricing.

Loans with the best pricing and lowest points require A+credit; however, we have 100% financing loans where your credit score can be as less than perfect.

There is no reason to endure the FHA red tape with so many preferred options.

Find out more about Rate One Mortgage
at info@rate1mortgage.com or call 901-259-2484.

(Toll Free 866-307-0420)