Purchase

Purchase Products

FHA 203K: I want to buy a house that needs some repairs.

FHA LOAN: I don't have a lot of money for a down payment.

MegaStar Financial offers the Federal Housing Administration Loan (FHA) to assist borrowers who may need a low down payment and flexible mortgage guidelines. The FHA loan is a great product that helps many people refinance or become homeowners.

• 3.5% down payment required - Can be a gift; see your MegaStar Mortgage Loan Officer for details.
• Under the FHA streamline program, current FHA loan borrowers can refinance with no appraisal.
• Seller can contribute up to 6% of the borrower's closing costs.

VA LOAN: I am active Military or a Veteran.

MegaStar Financial is proud to offer those who have served and are currently serving the Veteran's Affairs (VA) loan. The VA loan is an excellent loan that assists our Nation's Veterans with obtaining homeownership.

• Up to 100% financing available.
• No monthly mortgage insurance.
• Seller concessions up to 4% of the reasonable value of the property.
• Credit scores as low as 620.
• Surviving spouse may be eligible, as determined by VA.
• Must be a Veteran, Active Duty Military, or member of the Reserves.

USDA LOAN: I want to live in a rural area.

MegaStar Financial assists borrowers in rural areas with the USDA or rural development loan program. The USDA loan provides low and moderate income borrowers with better affordable housing finance options with little or no down payment or out of pocket costs. The property must be located within a USDA designated area.

• 100% financing available to qualified borrowers.
• Seller can contribute up to 6% of the borrower's closing costs.
• Flexible mortgage guidelines.
• Income and property restrictions do apply.

BOND PROGRAM: I'm a first time home buyer.

Bond Program: MegaStar Financial is a proud supporter of the State mortgage programs that assist first time homebuyers with possible down payment and closing cost assistance.

• Up to 100% financing available.
• First time homebuyer restrictions do apply.
• State specific program. See your MegaStar Mortgage Loan Officer for details.

ARMS: I want the lowest interest rate available.

ARMS: MegaStar Financial offers sophisticated mortgages to borrowers who may not expect to be in the home for a long period of time. The adjustable rate mortgage is fixed for a period of time and can adjust thereafter. Your MegaStar Mortgage Loan Officer will be glad to assist you in determining which mortgage program will best fit your needs. Since the interest rate may rise over time, it is not recommended for every borrower. Interest rates can be fixed for three, five, seven and ten years.

JUMBO LOAN: I need a loan amount above $417,000.

Jumbo: Due to MegaStar Financial's strength and stability, we have relationships with institutional investors that enable us to offer mortgage amounts up to $2 million dollars. The jumbo mortgage product is a loan amount above $417,000.00; speak with your MegaStar Mortgage Loan Officer today.

HOMEPATH: I would like to start investing.

HomePath: Due to MegaStar Financial's financial strength and our relationship with Fannie Mae, we have been authorized to finance their vast portfolio of homes. These homes are sold under the HomePath program. This is a great program to start investing in real estate.

• Low down payment available for a primary residence.
• 10% down payment on investment properties.
• No mortgage insurance required.
• No appraisal is required.

FIXED RATE: I want to make sure my rate stays the same.

Fixed Rate: MegaStar Financial provides the traditional fixed rate loan as our most popular mortgage product. The fixed rate mortgage product offers the stability of a constant interest rate throughout the life of your mortgage loan. The fixed rate mortgage will provide you with the stability of being able to budget your finances. Over time, the fixed becomes more manageable as you and your family's income increases.

• Low down payment options available for qualified borrowers.
• Provides for cash out refinances.
• Loan amounts available up to $417,000.00
• 10, 15, 20, and 30 year terms available.