Loan Programs
Find the Right
Loan Program to
Fit Your Needs
We offer our customers numerous loan products including Conventional, VA, FHA, USDA, and Jumbo loans, in addition to refinancing, among many other unique options tailored to meet your specific financial needs and situation.
Featured Loan Programs
First Time Home Buyer
Benefits for first time home buyers include: low or 0% down payment, tax credit advantages, and down payment assistance options.
Conventional Loans
Offers competitive interest rates and requires down payment of at least 3.5%. Standard documentation and fair-to-good credit score are necessary to qualify.
Rural Housing Loans (USDA)
$0 down option for qualifying properties located in USDA defined rural areas. Insured by the U.S. Government.
Jumbo Loans
Loan programs for loan amounts greater than the high balance loan limits. High credit scores are required to qualify.
Refinancing
Mortgage refinancing can provide financial benefits including lower interest rate, shorten the term of your mortgage, consolidate debt, and more.
Loan Programs Offered
Offering Veterans, US Military service members and eligible surviving spouses benefits through a VA loan program. Loans guaranteed by the Department of Veterans’ Affairs, no down payment or mortgage insurance required. The VA guaranty gives lenders greater degree of safety and flexibility which result in more competitive interest rates than non-VA loans.
Insured by the Federal Housing Administration. Offers down payment as low as 3.5% in addition to a less stringent qualification process which is an attractive option to first time homebuyers. To protect lenders from a loss if the borrower should default, mortgage insurance is required on all FHA loans.
Government backed loans, lending up to 100% of the home’s appraised value. Qualifying properties must be located in USDA defined rural areas and communities to be eligible for USDA loan programs.
Gershman Mortgage offers loan programs for loan amounts greater than the high balance loan limits. Lower debt-to-income ratios, higher credit and larger down payments are required on this type of loan.
As part of our commitment to provide the best residential home loans for our customers, we offer loans that feature a number of great benefits for first time home buyers. These benefits include: low or no down payment, tax credit advantages, and down payment assistance options.
Mortgage refinancing with Gershman Mortgage can provide a number of financial benefits for homeowners. Refinancing a mortgage means that you pay off the original loan and replace it with a new home loan. Mortgage refinancing can provide a lower interest rate, shorten the term of your mortgage, consolidate debt, and more.
Other Loan Programs
We’re certain we have the right loan program to fit your needs. If you don’t see the loan program you were looking for, contact a Gershman Mortgage professional and we’d be happy to help you find the right loan for you.
Learn More About Our Mission
Credit Score: More Than Just a Number
Be in Control of
Your Score
Start repairing your credit today
When in the market to buy a home, credit score plays an important role in home buyers’ ability to qualify for a home loan. Credit scores can show many things about a borrower’s credit history, but the most important thing tells the lender is whether or not a customer is likely to be able to repay the loan amount and pay it on time. Credit score also plays into the interest rate a potential borrower qualifies for on a home loan- typically, the higher the credit score the better interest rate a borrower could receive.
One of the best aspects of the way we do business is that we never turn away customers based on their credit scores or their credit related “skeletons in the closet”. Instead, we like to approach credit problems in the most helpful way-in addition to experienced home loan professionals, we offer FREE credit counseling to our customers with our in-house certified credit counselor, Warren Burros. He’ll walk you through step-by-step to repair your credit, and we’ll take it from there.
Credit problems and length of time to repair them vary from borrower to borrower- but with a little hard work, Warren’s free program can help you get on the path to homeownership. Together we have successfully helped many previously denied credit challenged borrowers become home owners.