Conventional Product
RMG Mortgage Group offers 30, 20, 15, and 10 year fixed products as well as Adjustable Rate Mortgages with as little as 5% down. We can also offer 3% down if you haven’t owned a home in the past 3 yrs. Contact RMG Mortgage Group for more information.
VA Financing
Have you or your spouse served in the military? If so, you may be eligible for VA Financing. VA Financing is for a primary residence only and is 100% financing –meaning no down payment is required. Contact RMG Mortgage Group for more information. Contact RMG Mortgage Group for more information.
FHA Financing
FHA loans aren’t just for first time homebuyers. FHA loans are for primary residences only and have a low down payment requirement of 3.5%. 100% of the down payment can be a gift and sellers can pay up to 6% of the closing costs. Contact RMG Mortgage Group for more information.
FHA 203k Financing
FHA 203k loans are designated for homes that are in need of rehabilitation. The loan covers both the purchase of the property and the costs of the necessary home repairs. FHA 203k loans are for primary residences only and have the same low down payment requirement of 3.5% (based of the purchase price and the repairs). Contact RMG Mortgage Group for more information.
USDA Financing
USDA loans offer 100% financing to qualified borrowers and allows for all closing costs to be paid by the seller or they can be financed into the loan (if appraised value is higher than the purchase price). USDA loans are for primary residences only in rural areas. Contact RMG Mortgage Group for more information.
Reverse Mortgage Loans
Are you 62 or older? FHA has a program that allows you to stay in your home and only pay taxes and insurance for the rest of your life. No minimum credit score required. You may also purchase a home with a reverse mortgage loan. This will allow you to keep more cash in the bank. Contact RMG Mortgage Group for more information.
Rebounding Homebuyer Program/Bankruptcy
A rebounding home buyer is someone who has recently completed a short sale, foreclosure, deed-in-lieu of foreclosure, or bankruptcy and would like to purchase a primary residence before waiting the number of years prescribed by the secondary mortgage market. 20% down payment requirement. Contact RMG Mortgage Group for more information.
Second Home Financing
Looking to purchase a second home? RMG Mortgage Group offers financing on second homes with a little as 10% down payment. Contact RMG Mortgage Group for more information.