Loan Programs

FHA (Federal Housing Administration) Mortgages

FHA mortgages are government loans that are ideal for borrowers who may have difficulty qualifying for other products. With especially lenient down payment, borrowers are able to pay as low as 3% depending on lender specific guidelines. The one stipulation, however, is that there will be an additional PMI (principle mortgage insurance) premium that will be added to your monthly payment. With that said, the benefits of FHA loans may still be a huge boon for certain borrowers.

Some advantages of choosing an FHA loan:

  1. FHA loans allow for as low as 3% down payments for home loans depending on lender requirements
  2. Some lenders will allow borrowers to apply for loans with low credit scores, or little to no credit history
  3. Competitive interest rates compared to non-government loans

* Early/Pre-Payment Penalty *

Victoria Financial Corp does not have any prepayment penalty; HOWEVER, fees may occur if you decide to pay off in full or close your loan before 6 months depending on the lender. Please check with our office for details.