Decide

Prospect Mortgage offers a wide array of home loans to help you purchase or refinance a home.

Government Loans

FHA

We offer residential mortgage loans insured by the Federal Housing Administration (FHA). FHA-insured loans offer many benefits, including lower costs, smaller down payments, easier qualification, and more protection to keep your home.

FHA Renovation Loan Program, Great for Fixer Uppers

The FHA Renovation Loan Program provides you with the money to purchase a home and renovate it, all with one convenient loan. This program is ideal for purchasing foreclosures and improving their value with needed repairs and upgrades.

VA

The VA loan program can make it much easier for veterans to secure a home loan by requiring little or no down payment. This home loan is available to veterans and guaranteed by the U.S. Veteran's Administration, and it frequently offers lower interest rates than ordinarily available. In addition, with a VA-guaranteed loan, there is no private mortgage insurance requirement.

GSE Conforming-Jumbo

Government Sponsored Entities, Fannie Mae and Freddie Mac, new conforming-jumbo loan limits make it easier and more affordable for more buyers to "move up" and purchase higher-value homes, or save substantially by refinancing their jumbo loan. Lower FICO score and down payment requirements, lower-than-jumbo rates, and loans amounts of up to $625,500 in some areas create a powerful alternative to a traditional jumbo loan.

State and Local Bond Programs

Many municipalities have established bond programs to help first-time home buyers with down payment assistance, obtaining a lower rate, and qualifying more easily for a home loan.