DEAR JENNY: What type of loan do I need?

"I want to purchase a home and need additional money to renovate the house."

Jenny recommends: FHA Streamline 203k
Easy to use program specifically designed for those who wish to make improvements on a home they own, or would like to buy. Allows you to finance repair costs up to $35,000 - within your FHA purchase or refinance itself.

"I want to purchase a HUD home but it needs minor repairs."

Jenny recommends: FHA Repair Escrow 203b

Intended to facilitate uncomplicated rehabilitation to a home being purchased from HUD. The funds for the repairs and reserve contingency are borrowed and cannot be more than $5,000 combined.

"I want to purchase a mobile home."

Jenny recommends: Manufactured Home Loan

Our financing program offers Manufactured home loans for clients with FICOs as low as 620.

"I want to purchase a home in a rural area."

Jenny recommends: Guaranteed Rural Housing Loan

Designed to assist households in obtaining housing in rural areas. Loans are limited to applicants with incomes that do not exceed state and local Rural Development (RD) median income limits and property designated as rural by RD.

"I want to build a new manufactured home and purchase the lot too."

Jenny recommends: One Time Close, Construction to Permanent Loan

A true one-time close construction to permanent loan for new manufactured and modular homes. Finances lot purchase and a permanent loan all wrapped in one.