FHA Loan

FHA mortgages allow homeowners to qualify for a government-backed mortgage, with more flexible guidelines than a traditional loan. Arc Home's FHA programs help customers with a credit score as low as 600. Purchase a home with a down payment as low as 3.5%. Closing costs can be rolled into the loan and you may qualify even with a prior bankruptcy or other negative credit-related events.

With FHA loans, homeowners will be required to pay a mortgage insurance premium (MIP). An FHA MIP is an additional payment you make to secure the loan. The amount and term of MIP that will be required will depend the homeowner’s down payment.

VA Loan

VA loans are government-backed mortgages available to Veterans, service members, and surviving spouses. With Arc Home, qualified veterans can purchase a home with no down payment. These mortgages typically have lower interest rates than conventional loans, require no mortgage insurance, and are available to customers with a credit score as low as 620.

Conventional Loan

Arc Home's Conventional loan program is ideal for customers with good credit and low debt to income levels, including:

Adjustable-Rate (ARM) loan – Arc Home offers 3, 5 and 10 year loan terms. On an ARM product, the interest rate may change periodically depending on changes in the corresponding financial index that is associated with the loan.

Customized term – Homeowners can customize their loan terms ranging from 8 to 29 years. These mortgages can be designed to match a financial goal or major life event. Interest rates are fixed for the life of the loan

Low down payment and increased loan amounts options are also available.

Loans with less than a 20% down payment may require Private Mortgage Insurance (PMI). With PMI, the homeowner will pay a portion of the annual premium each month as a part of their monthly mortgage payment. PMI is automatically canceled once 22% equity is reached.