FHA / VA

Known to many as the original first time homebuyer program, Southern Trust Mortgage offers loans backed by the Federal Housing Administration to borrowers who may not meet conventional financing requirements. Similar to an FHA Loan, a VA Loan is backed by the Department of Veterans Affairs and is available through Southern Trust Mortgage for eligible veterans. These loans often require lower down payments, offer more lenient underwriting guidelines, and are available in fixed or adjustable rate terms, to meet your financing goals.

Consider an FHA or VA Loan if you:

• Are a first time homebuyer or a have VA eligibility
• Are receiving down payment money as a gift or grant from a family member or non-profit agency
• Have less than 5% of the sales price for down payment and / or closing costs
• Are receiving closing cost assistance from the Seller
• Want a loan that is assumable (under certain circumstances)