Community Financial realizes that not everyone can qualify for a traditional mortgage, so we’re able to work with members who have special financial circumstances. When coming up with a 20% down payment is a challenge, we may be able to structure your mortgage to avoid a large down payment.
An FHA loan is a mortgage through the Federal Housing Administration that makes it possible for people to borrow money for the purchase of a home that they would not otherwise be able to afford. Community Financial offers FHA loans for anyone looking for low down payments and flexible sources of funds.
There are no income limitations with an FHA, and borrowers are able to include money gifts and seller contributions towards the purchase. Credit and ratio guidelines are flexible, making this a great loan for almost anyone.
Talk to a mortgage specialist to see if an FHA is right for you.
Rural Development – Michigan (RD) is a government program offered through Community Financial Mortgage Services so low to moderate income families in rural areas can buy their primary residence. RD offers 100% financing and eliminates the need for private mortgage insurance, which makes this loan program very affordable. Plus, you don’t have to be a first-time homebuyer to be eligible.
Talk to a mortgage specialist to learn more.
Equal Housing Lender - We do business in accordance with the Fair Housing Law and Equal Opportunity Credit Act
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