Loan Program: Features: Recommended For Those Who:

www.premiarelocationmortgage.com

FHA vs. VA Mortgages

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License #15-2170 (Premia's in state office is located at 311 West Kansas Ave., Independence, MO 64050); Licensed by the New Hampshire Banking Department; Licensed by the N.J. Department of Banking and Insurance; Licensed Mortgage Banker

that Premia Mortgage maintains on file with the State of Nevada Department of Business and Industry is (248) 641-1540. Premia Mortgage,

All Rights Reserved. NMLS ID 458540 (www.nmlsconsumeraccess.org).

FHA

VA

• Government backed home loan and must meet theFederal Housing Administration (FHA) guidelines

• Loan amount can exceed the Fannie Mae conformingloan limit of $424,100 in higher cost areas

• Offered in fixed and adjustable rate terms• Low down payment requirements (3.5% minimum)• Down payment and closing costs may be funded by

a gift or grant• Minimum FICO of 620• Higher debt-to-income (DTI) ratio• Up front Mortgage Insurance (UFMIP) at 1.75% of

the loan amount that can be financed• Monthly borrower paid mortgage insurance required

and can vary depending on down payment and loanterm

• Low interest rate and APR

• A home loan that is guaranteed by the US Dept. ofVeteran Affairs (VA) and must meet the VA guidelines

• Loan amount can exceed the Fannie Mae conformingloan limit of $424,100 in higher cost areas

• Offered in fixed and adjustable rate terms• No down payment required• Down payment and closing costs may be funded by

a gift or grant• Minimum FICO of 620• Higher debt-to-income (DTI) ratio• Funding fee varies depending on down payment and

can be financed and/or waived if veteran is disabled• No mortgage insurance• Low interest rate and APR

• First-time and repeat homebuyers• Have limited funds for down

payment• Have less than perfect credit• Need a non-occupant co-borrower

• Are military service members (may include veterans, reservists, active-duty members)

• Have limited funds for downpayment

• Have less-than-perfect credit

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866.591.0655