If you are planning to buy your principal residence and do not have savings for a down payment and closing costs, this loan insured by the Federal Housing Administration may be your answer.
Description
- Insured by the U.S. Department of Housing and Urban Development
- Down payment for this loan is lower than for a conventional loan
- To acquire or refinance your principal residence
- Maximum of $242,850 for a single family home
- Maximum 97% LTV for purchase
- Maximum 85% for refinance of principal residence
- Term: 30 years
- Only available in USVI
Apply by calling:
- Saint Thomas – Mortgage Center 340-693-2803
- Saint Croix – Mortgage Center 340-693-2911
1Subject to credit approval. Example: A loan of $100,000 at 6.43% APR, for 30 years will have a monthly payment of $623.87. The payments from the examples do not include legal and incidental expenses, prepaid expenses or any type of insurance and taxes. Some conditions and restrictions apply.