Loan programs FAQ

ZERO Closing Cost purchase loans including Conventional fixed and adjustable rate, Jumbo, FHA, VA, HomeReady®, HomePossible® and Virginia Housing programs.

It depends on the program: VA allows 0% down, HomeReady and HomePossible start at 3%, FHA at 3.5%, and Jumbo loans typically require more. Virginia Housing programs can lower your down payment to 1% or 0% for eligible buyers.

FHA can be easier to qualify for with a lower credit score. Conventional usually costs less over time with good credit, and its mortgage insurance can come off later. We can price both for you.

Yes. Jumbo loans finance amounts above the conforming loan limit, which starts at $806,500 in most areas.

On a Conventional loan with less than 20% down, usually yes, and it can be removed later. FHA loans always carry mortgage insurance; with 20% equity you can refinance into a Conventional loan without it.

Yes, in Virginia. With Virginia Housing we offer grants of up to 2.5% of the purchase price that don't need to be repaid, and a second mortgage that can finance up to 5% of the down payment. Program limits apply.

When you expect to move or refinance before the fixed period ends. Our adjustable-rate loans have an introductory fixed rate for up to 10 years, then adjust every 6 months.

Fixed-rate loans in 30, 25, 20, 15 and 10-year terms, plus 5/6, 7/6 and 10/6 adjustable-rate loans. You can price each in our mortgage calculator.

Primary residences, second homes and investment properties, including single-family homes, townhouses, condos and manufactured homes. Some transactions carry additional costs; your quote shows them.