Features FHA Mortgage offer:

• Low down payments
  Minimal cash is needed up front
• Easy qualifying terms
  The FHA Home Loan uses relaxed underwriting criteria to evaluate debt and income. These flexible credit guidelines may enable more applicants to qualify for financing.
• Authorization to get help with costs
  FHA guidelines allow home buyers to receive some or all of their down payment and loan fees from relatives, in the form of a gift. Certain home sellers may also pay an amount equal to up to 6% of the sales price for closing costs and pre-paid. Call for details.

Best for:

• Home buyers who have limited savings and/or moderate incomes or credit history.
• First-time home buyers who are concerned about not having enough funds for down payment and closing costs.

Features VA Mortgage offers:

• No down payment
• Easy qualification with regard to credit and income
• Out of pocket expenses can come from a gift

Best for:

• Qualified veterans, reservists, active service and their spouses (check with your regional VA office to see if you are eligible)
• Eligible borrowers who have limited funds for down payment and closing costs

Features Adjustable Rate Mortgage Loans offer:

• Assist borrowers in obtaining a larger loan amount
  This is possible because qualifications are at the lower interest rate.
• Save money in the early years
  Lower initial interest rate than a traditional fixed-rate loan
• Have a variety of adjustment periods
  (See Intermediate ARMs )

Best for:

• When you need extra borrowing power
• Want to save money in the first few years
• Plan to move or refinance in a few years
• Are purchasing or refinancing at a time when interest rates are comparatively high?

Adjustable-Rate Mortgages (also called ARMs) feature an interest rate that periodically adjusts with changing market rates. ARMs are available in FHA, conforming and jumbo loan amounts. The ARM allows you to take advantage of lower interest rates in a falling rate environment, and you'll benefit from lower monthly payments. The initial interest rate on an ARM is usually lower than the interest rate on a fixed-rate mortgage (FRM). ARM interest rates and the degree to which they fluctuate at the end of every adjustment period, are determined by:

Index: Published economic indices such as U.S. Treasury Securities or London Inter-Bank Offered Rate (LIBOR) that are used to direct the adjustment.

Margin: A fixed percentage (usually two to three percent) that is added to the index at each adjustment period

Rate Cap: Typically the maximum amount your rate can increase or decrease per adjustment period and over the life of the loan. This protects you in case of volatile market swings.

Features Intermediate ARMs offer:

• Low introductory rate
  Net substantial savings with attractively priced 3/1 and 5/1 ARM options.
• Predictable monthly payments
  Intermediate ARM options are offered at a low introductory fixed rate that remains fixed for the first three or five years.
• Low down payment
  Less up-front cash is needed, because Savings Bank have 3/1 or 5/1 ARM options have down payment requirements as low as 5%.

Best for:

• Plan to stay in their homes for a limited time.
• Need lower initial payments to buy a home they might not otherwise be able to afford.
• Are confident their future incomes will rise enough to handle potentially higher monthly payments.

Want to save the time it may take to prove your self-employed income?

Is your income sheltered and difficult to prove?

Features NINA Loan offers:

• No income or asset information is required for application.
• Credit scores as low as 580 are acceptable with a corresponding increase in the down payment.

• Self-employed borrowers who want to avoid the time it takes to document income.
• Borrowers that have income from non-traditional sources that is difficult to document and verify.

No income questions are asked. No employment history is needed. No bank statements or mutual fund reports to supply. This loan speeds up your approval and truly makes the process easy!

Certain credit standards must be met. Call your Nevada Home Loans loan officer today for details.

Features Sub Prime Loans  offer:

• Assist borrowers in obtaining a loan with credit difficulties
• Allows the opportunity for another start
• Usually offering the security of a fixed rate loan in the early years
  

Best for:

• Plan to stay in their homes for a limited time.
• Recent Bankruptcy, Divorce 
• Are confident their future credit profile will improve with time to allow for a refinance to more attractive rates.