We offer a wide veriety of loan products to ensure we have the right loan for you. Whether you are looking to buy your first home with little to No money down, buy a vacation or investment property, or just to move up to a nicer home, we have the loan product to fit your needs.
Here is a list of our most popular loan products currently available.
FHA & FHA 203K Home Improvement
Fixed and Adjustable Rate 30,15 & 10 year terms
Purchase with 3.50% minimum down payment
Seller can pay up to 6% of Buyers Closing Costs
Refinance with 2.75% minimum equity position
Manufactured homes OK (restrictions apply)
Update or Improve your current home or new home with FHA 203K up to 110% of After Improved Value. Improvements include, but are not limited to replacing windows, doors, insulation, painting, finishing a basement, roof, patio, and upgrading heating/cooling and appliances.
VA
Fixed and Adjustable Rate 30,15 & 10 year terms
Purchase requiring ZERO down payment
Seller can pay All of Buyers Closing Costs
Refinance requiring 10% equity position
Exception: if streamline refinance (IRRRL)
No mortgage insurance
Conventional Financing
Fixed and Adjustable Rate 30, 20, 15 and 10 year terms
Purchase with 5% minimum down payment
Seller can pay up to 3% of Buyers Closing Costs
Refinance with 5% minimum equity position
Mortgage insurance required if less than 20% down or equity position
Manufactured homes OK (restrictions apply)
USDA Guaranteed Rural Housing Financing
Fixed rate 30 year term
Restricted to designated rural areas and communities
Purchase with ZERO down payment
Seller can pay up to 6% of Buyers Closing Costs
No mortgage insurance
Closing costs, repairs and improvements may be financed (consult your Heritage Home Loans’ Loan Officer for details)
FHA & VA EEM (Energy Efficient Mortgage) Program
Purchase or refinance
Upgrade heating/cooling system, hot water tank, weatherization – storm windows and doors, insulation, weather stripping, etc
The “energy package” maximum amount is the lesser of 5% of the property’s value or 115% of the median area price of a single family dwelling
If you have any questions about these loan products, or don't find the one you are looking for, feel free to call and speak to one of our qualified Loan Consultants for answers!
104 S. Freya Blue Flag Bldg Ste#106 Spokane, Washington 99202 Phone: Toll Free Phone: Fax:
