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Pay less for your mortgage


Pay less for your mortgage


You can pay less than you think for your mortgage down payment


If you're looking to buy your first home, you may have heard that you need twenty percent of the purchase price for a down payment and thousands more in closing costs, home inspection, and several months cash reserves. This makes obtaining a mortgage seem like a difficult feat. moving in

The good news is obtaining your next home can cost a lot less than you think - even as low as zero down payment! At Sunbelt, we have a variety of mortgage loan options to custom fit your needs and your finances. With all the complexities of today's mortgage market, researching the varying types of loans available and whether you and your home qualifies can be extensive. Luckily, our expert mortgage team is available to assist you. Simply point towards the home you want and we can help guide you the rest of the way.


So exactly how much do YOU need to save for your mortgage? Pick up the phone and give us a call at 601-649-7181 option 4 or start here online and we can work together to find the best option. For those of you keen on doing your own research before jumping in, check out the list below detailing several mortgage options!

  • USDA Guaranteed Loan Program - A USDA Home Loan aka USDA Rural Development Guaranteed Housing Loan is a mortgage loan available to individuals in rural market areas.

Advantages of program:

  1. No Down Payment

  2. Program is for NEW and REPEAT homebuyers

  3. Low Monthly Private Mortgage Insurance (PMI)

  4. Flexible Credit Guidelines allowing credit scores of 620+

  5. Assumable mortgage loans

  6. Sellers can pay for all closing costs and pre-paid items up to 6% of the sales price

  • FHA Loan - A mortgage issued by federally qualified lenders and insured by the Federal Housing Administration. These loans are insured by a government agency. FHA loans are designed for low-to-moderate income borrowers who are unable to make a large down payment.

Advantages of program:

  1. The credit qualifying criteria isn’t as strict as traditional Conventional mortgage loans.

  2. Low down payment of 3.5% of the purchase price

  3. Sellers can pay for all closing costs and pre-paid items up to 6% of sales price

  4. Lower credit score requirement – 620+

  5. FHA loans are assumable

  6. FHA mortgage rates are lower than Conventional mortgage rates

  • Conventional Conforming Loan Program - A Conventional loan is a mortgage that is not guaranteed or insured by any government agency. Conventional conforming loans follow stricter guidelines set forth by Fannie Mae and Freddie Mac.

Advantages of program

  1. Faster Home Loan Processing

  2. Able to avoid a life of loan mortgage insurance a/k/a PMI (private mortgage insurance). PMI will drop off of the loan once it naturally amortizes to an 80% loan to value.

  3. Conventional loans do not have an up-front mortgage insurance that is added back to the loan as the USDA and FHA loans do.

  4. Greatest advantage is NO private mortgage insurance with a 20% down payment.



Give Sunbelt a call today ( 601-649-7181 option 4) or visit our website to discuss your needs so we can work to get you the home of your dreams.





USDA, Equal Housing Lender, Federally insured by NCUA - Sunbelt FCU affiliates

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