Government Loan Programs

Both federal and state governments offer programs to assist homebuyers. FHA and VA loans are federal programs. The Mortgage Revenue Bond program is offered by the State of Missouri.

FHA Loans

•    Everyone is eligible to apply
•    Borrowers must be able to meet their monthly payment
•    Maximum loan limits apply based on property location
•    You may refinance an FHA loan to another FHA loan under a streamlined process programs.

VA loans:

•    Available to qualified Veterans
•    Fixed-rate and Adjustable Rate Mortgages now available
•    Includes low- and no-money-down options
•    Maximum loan limits based on Veteran’s eligibility
•    You may refinance a VA loan to another VA loan under a streamlined process programs.

MHDC Mortgage Revenue Bond Program:

•    Available to qualified first-time buyers in Missouri
•    Below-market interest rates
•    Cash assistance for down payments and closing costs
•    Can be used for initial purchases with FHA, VA or conventional loans


USDA Rural Housing Development Loans

•    Loan Amounts up to 100% of the Appraised Value
•    30 year fixed rate
•    No Monthly Mortgage Insurance and a onetime guarantee fee may be rolled into the loan amount
•    No limit on seller concessions or gift/grant funds from community organizations or relatives
•    No maximum purchase price

A Gershman Mortgage loan officer can help find the best mortgage for you. Call today, 1-800-GERSHMAN.