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Bank 21 offers a variety of loan programs to meet your needs. We work with the leading lenders in the industry to provide:
 
Conventional
USDA
FHA
VA

Conventional

 

A conventional loan is a mortgage that's not guaranteed or insured by the federal government under the Veterans Administration (VA) the Federal Housing Administration (FHA), or the Rural Housing Service (RHS) of the U.S. Department of Agriculture. Although a conventional loan is not insured or guaranteed by the government, it can still follow the guidelines of government sponsored enterprises (GSE's) such as Fannie Mae or Freddie Mac as both Fannie Mae and Freddie Mac are stockholder-owned corporations.


USDA

USDA mortgages are provided by the United States Department of Agriculture to provide low-cost insured mortgage loans that suit a variety of options. A USDA mortgage may be the right option for you to purchase a home with no money down. In general, there are two kinds of USDA mortgages:

  • USDA Guaranteed Mortgage
  • USDA Direct Mortgage

To find out if you qaulify for one of these loans, contact your Bank 21 home loan professional today!


FHA

An FHA (Federal Housing Administration) mortgage is a government-insured loan for the purchase or refinance of a home. The FHA program has been in existence since 1934, is a part of HUD (Department of Housing Administration), and helps lenders to provide mortgages to borrowers that benefit from the program's lower down payments, closing costs, and relaxed credit qualifying standards.


VA

A VA home loan is a mortgage program provided to eligible American military veterans (or potentially their surviving spouses) that is guaranteed by the U.S. Department of Veterans Affairs. It is designed to help veterans to purchase or refinance a home in cases where they may not be eligible for other more restrictive home loan options.




Unless otherwise indicated, these APR calculations are based on the following: Conforming loans (whose maximum loan amount is below $484,350 for the contiguous states, District of Columbia, and Puerto Rico or below $636,150 for Alaska, Guam, Hawaii and the Virgin Islands) are calculated based on a loan amount of $45,310 with closing costs of $906. Jumbo Loans (whose maximum loan amount exceed $484,350 for the contiguous states, District of Columbia, and Puerto Rico or exceed $636,150 for Alaska, Guam, Hawaii and the Virgin Islands) are calculated based on a loan amount of $1,000,000 with closing costs of $20,000. Your actual APR may be different depending upon these factors.