FHA, VA, USDA Loans

TC Federal Bank is proud to offer a variety of government loans.

 

 

FHA Loans

FHA Loans are insured by the Federal Housing Administration and offer a wide range of flexibility for borrowers.

  • Minimum credit score of 620
  • Minimum down payment of 3.5%
  • Mortgage insurance requirement of 1.75% upfront (financed) and 85 bps monthly
  • Seller contributions allowed up to 6%

VA Loans

If you are a service member, veteran, spouse or other beneficiary, you may be eligible for a VA Loan. This loan can be used to buy, build, renovate or refinance a home or mortgage loan.

  • Minimum credit score of 620
  • No down payment required
  • No private mortgage insurance (PMI)
  • Seller contributions allowed up to 4%
  • Escrow required

USDA Loans

USDA Home Loans are available in designated rural areas for low- to moderate-income borrowers.

  • Minimum credit score of 640
  • No down payment required
  • Mortgage insurance requirement of 1.00% upfront (financed) and 35 bps monthly
  • Seller contributions allowed up to 6%
  • Escrow required

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