Lincoln Purchase Mortgage
Within the City of Lincoln, NE there are many choices when it comes to buying your home. The most common and popular home loan programs are the 30 year and 15 year conventional home loans. These programs have great interest rates, straight forward underwriting, reasonable PMI, and if you have 20% down there is no mortgage insurance requirement. It is very flexible also, with down payment requirements as low as 3% minimum.
FHA mortgages offer a great option for first time home buyers. with a low down payment and more relaxed underwriting guidelines. Also, for borrowers with little or no credit history, FHA does allow for non-traditional credit, such as insurance, utilities and rental history.
For our veterans and current service members, the VA mortgage is often the best route to go. With low mortgage interest rates, no downpayment requirement, and zero monthly mortgage insurance, it is a great program.
Finally, for those outside the city limits, there is a USDA program. This allows for a home buyer to purchase a home with zero percent down and very attractive interest rates.