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Government Loan Programs

Gershman Mortgage offers, both federal and state government loan programs to assist home buyers in Denver, CO and in St. Louis, MO.

FHA and VA loans are federal programs. FHA loans are designed to help creditworthy low-income and moderate-income families who do not meet requirements for conventional loans.

VA loans are guaranteed by the U.S. Department of Veteran Affairs (VA). In most cases, no down payment is required on a VA guaranteed loan and the home buyer can normally receive a lower interest rate than what may be available with other loans.

The Mortgage Revenue Bond program is offered by the State of Missouri. This program assists home buyers with down payment and closing costs. It currently provides a fixed-rate, 30-year mortgage with the lowest interest rates ever offered by the MHDC commission.

Rural Housing Development Loans are available to home buyers purchasing in an eligible rural area as defined by the USDA. This type of loan lends up to 100% of the home’s appraised value. Buyers may also include closing costs in their loan (appraisal permitting).

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

Contact a Gershman Mortgage loan officer to learn more about Government Loan Programs and which one is right for you. 

Call today, 314-889-0600 or Toll Free at 1-800-GERSHMAN (437-7462).

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