Home Buying Process
Buying a home is an exciting time, but it can also be stressful. This is one of the most important purchases of your life that can require a lot of time. Our goal is to help you find the best program to fit your needs, while making the process quick and enjoyable. Statewide Mortgage offers same day pre-qualification, so you know right away how much you can afford. We will seamlessly walk you through the loan process, so you always know what to expect next.

Loan Programs
Features | Conventional | FHA | FHA HUD REO $100 Down | USDA | VA |
---|---|---|---|---|---|
Downpayment Requirements | > 3% | 3.5% | $100 | 0% | 0% |
Seller Concession Allowed | 3% - 9% | 6% | 3% | 6% | 4% |
Required Credit Score | 620 | 580 | 580 | 580 | 580 |
Upfront Mortgage Insurance | 1.75% | 1.75% | 1% | See Grid Below | |
Monthly Mortgage Insurance | > 80% LTV | ||||
Income Limits | |||||
Area Restrictions |
VA Funding Fees
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Downpayment | ||
---|---|---|
Disabled Veteran | ||
Any | ||
Veteran / Active Duty | ||
0% | ||
5% - 10% | ||
> 10% | ||
National Guard / Reserve | ||
0% | ||
5% - 10% | ||
> 10% |
Downpayment | Fee - 1st Time | Fee - Each Additional Use | |||
---|---|---|---|---|---|
Disabled Veteran | Disabled Veteran | ||||
Any | Exempt | Exempt | |||
Veteran / Active Duty | Veteran / Active Duty | ||||
0% | 2.15% | 3.3% | |||
5% - 10% | 1.5% | 1.5% | |||
> 10% | 1.25% | 1.25% | |||
National Guard / Reserve | National Guard / Reserve | ||||
0% | 2.4% | 3.3% | |||
5% - 10% | 1.75% | 1.75% | |||
> 10% | 1.5% | 1.5% |
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