Southwest Funding

The Benefits of a VA Loan

December 10, 2009 by Rob Spring · Leave a Comment 

VA Loans
VA guaranteed loans are made by lenders and guaranteed by the U.S. Department of Veteran Affairs (VA) to eligible veterans for the purchase of a home. The guaranty means the lender is protected against loss if you fail to repay the loan. In most cases, no down payment is required on a VA guaranteed [...]

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Government Loan Programs

December 8, 2009 by Rob Spring · Leave a Comment 

Government Loan Programs
 
FHA loans
An FHA loan is insured by the Federal Housing Administration, a federal agency within the U.S. Department of Housing and Urban Development (HUD). The FHA does not loan money to borrowers, rather, it provides lenders protection through mortgage insurance (MIP) in case the borrower defaults on his or her loan obligations. Available [...]

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What is an FHA Loan?

November 29, 2009 by Rob Spring · Leave a Comment 

What is the FHA?
The Federal Housing Administration is an agency of the federal government. The FHA insures private loans issued for new and existing housing, and for approved programs for home repairs. The FHA was created by Congress in 1934, and in 1965 became part of the Department of Housing and Urban Development’s Office of [...]

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FHA Loan Program

November 29, 2009 by Rob Spring · Leave a Comment 

FHA Purchase loans are the most popular loan type at Southwest Funding. We close them by the dozens each and every month. There are a few reasons for their popularity:
1. Low out of pocket requirements – You can put as little as 2.25% of the sales price down. That down payment can be a gift [...]

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203K Streamline Rehab Loan

November 29, 2009 by Rob Spring · Leave a Comment 

203K Streamline Loan –
Limited Rehab Program Overview
The 203(k) streamline loan program gives borrowers the ability to repairs and improvements either to the home that they currently live in, or that special fixer-upper opportunity, without the extra cost or details as found in the regular 203k. One single loan is used to pay for the (purchase or refinance) and the [...]

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