Our Loan Programs
USDA Loan
Learn More
Location, Location, Location
With a USDA loan, it’s all about location. Properties that fall within certain areas deemed rural by the U.S. Department of Agriculture may qualify, if borrowers meet certain income limits. These limits differ by county.
FHA Loan
Learn More
Up-Front Savings
Insured by the federal government, FHA loans help buyers save with up-front costs through lower down payments and secured interest rates. These loans carry mortgage insurance throughout the full term.
Conventional
Learn More
You Have Options
Conventional loans are our most popular for a reason. They can be used to purchase or refinance a home, borrowers can opt for fixed or adjustable interest rates, and the minimum down payment is 5%. A 3% down payment option exists for first-time homebuyers and other qualifying borrowers.
DPA Loans
Learn More
Help With Down Payments
Got all your ducks in a row, except the down payment? Don’t write off homeownership yet. We strive to help with various forms of down payment assistance — you have options.
VA Loan
Learn More
Serving Those Who’ve Served
Members of the military, National Guard, eligible surviving spouses, veterans and reservists could qualify for loans which are partially guaranteed by the VA. This allows lenders like Open Mortgage to offer special benefits and optimal terms to eligible borrowers.
Rehab Loans
Learn More
Buy & Remodel
Roll the cost of the home and a remodel into a rehab loan, great for turning that fixer-upper into the home of your dreams. There are options for an FHA loan, known as 203 (k), or a conventional homestyle loan.
Basics of Reverse Mortgage
Our experienced loan originators can help you decide whether a reverse mortgage is right for you. In order to qualify you must be 62 years or older and complete a counseling session with a HUD Certified Housing Counselor. Borrowers are expected to live in the home as their primary residence and pay homeowners taxes, insurance, and any applicable HOA fees.
Contact your Reverse Loan Originator for more information.
GET STARTED Find a Branch
HECM for Purchase
Learn More
Enjoy your retirement on your terms.
In the past, your options were limited, but there may be a way for you to achieve your dream of a new home: the Home Equity Conversion Mortgage for Purchase (H4P for short). The H4P lets seniors aged 62 and older purchase a home with approximately 50% down, helping you retain more of your financial nest egg.
HECM for Retirement
Learn More
Enjoy your retirment on your terms.
The Home Equity Conversion Mortgage (HECM for short) has rapidly become part of the financial planning world. No longer considered a loan of last resort, the new and improved HECM could help those who may not necessarily need cash now, but wish to secure the longevity of their savings. And considering that your home may be your largest asset, you owe it to yourself to learn more about the HECM.
Things to know about Reverse Mortgages:
- At the conclusion of a reverse mortgage, the borrower must repay the loan and may have to sell the home or repay the loan from other proceeds
- Charges will be assessed with the loan, including an origination fee, closing costs, mortgage insurance premiums and servicing fees
- The loan balance grows over time and interest is charged on the outstanding balance
- The borrower remains responsible for property taxes, hazard insurance and home maintenance, and failure to pay these amounts may result in the loss of the home
- Interest on a reverse mortgage is not tax-deductible until the borrower makes partial or full re-payment