Rural Development Loans

100% Financing Available
Sellers are allowed to pay the Closing Costs (most of our clients come with $0 to closing)
Extremely Low Mortgage Insurance compared to other loan programs
Extremely Low Interest Rates = Great, Low Payments

The property and borrower must meet certain eligibility requirements, so call Litton Mortgage. We are Rural Development Experts that can help you see if rural development could be a great mortgage option for you!

VA Loans

VA guaranteed loans are made by lenders and guaranteed by the U.S. Department of Veteran Affairs (VA) to eligible veterans for the purchase of a home. The guaranty means the lender is protected against loss if you fail to repay the loan. In most cases, no down payment is required on a VA guaranteed loan and the borrower usually receives a lower interest rate than is ordinarily available with other loans.

Other benefits of a VA loan include:

Negotiable interest rate.

Closing costs comparable – and sometimes lower – than other financing types.

No private mortgage insurance requirement.

Right to prepay loan without penalties

Mortgage can be taken over (or “assumed”) by the buyer when a home is sold.

Counseling and assistance available to veteran borrowers having financial difficulty or facing default on their loan.

Although mortgage insurance is not required, the VA charges a funding fee to issue a guarantee to a lender against borrower default on a mortgage. The fee may be paid in cash by the buyer or seller, or it may be financed in the loan amount.

A VA loan can be used to buy a home, build a home and even improve a home with energy-saving features such as solar or heating/cooling systems, water heaters, insulation, weather-stripping/ caulking, storm windows/doors or other energy efficient improvements approved by the lender and VA.

Veterans can apply for a VA loan with any mortgage lender that participates in the VA home loan program. A Certificate of Eligibility from the VA must be presented to the lender to qualify for the loan.

Contact Litton Mortgage today for more information!