An FHA mortgage is a government-insured home loan. Features for FHA loans include less strict credit history requirements, down payments as low as 3.5% (gifts can be used for down payments), and very competitive interest rates.
VA Loans are mortgage loans issued by approved lenders such as Hallmark Home Mortgage, guaranteed by the federal government, for active duty or honorably discharged military personnel. Features include $0 down payment for loans under $417,000, no monthly mortgage insurance, and very competitive rates.
These loans are ideal for borrowers with good or excellent credit, and they feature conservative guidelines for credit scores, down payments and debt to income ratios. There are conventional loan programs available with as little as 3% down payments.
Exactly what they sound like, Jumbo loans are larger loan amounts over $417,000. These loan programs typically require stronger credit profiles with down payments starting as low as 10% for some borrowers.
Specialty Loan Programs exclusively for Doctors, Dentists, Podiatrists, Ophthalmologists, and Veterinarians. 100% financing up to $650,000 with no mortgage insurance. 90% financing up to $1.0 Million with no mortgage insurance, and 75% financing up to $2.0 Million
Hallmark is an approved CHFA lender, offering a variety of loan programs to assist Coloradans with access to competitive fixed rate financing, down payment and/or closing cost assistance for both purchasing a home and refinancing.
ARM loans are simply adjustable rate loan programs that may be available for the various other loan programs we offer. These can be an excellent alternative for some borrowers, and can be easily explained by one of our home loan experts.
Hallmark Home Mortgage works with accepted local builders on New Construction Home Loans. And we can work on loan to help you complete that big remodel rehab project you’ve always wanted to do. We handle each step of the loan process, allowing you to focus on your Home not your Loan.
Answers to some commonly asked questions regarding buying a home or refinancing a loan
View our glossary of terms and educate yourself on the home loan and refinance process