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Loan Types

We offer a number of loan programs that may be right for you. Count on your ZABE Mortgage Group loan professional to help you select the best one.


An FHA loan is insured by the Federal Housing Administration (FHA), an agency of the U.S. government.

Because one of the FHA’s goals is to help more people become homeowners, FHA-insured loans have smaller down payments and other benefits:

  • Down payments as low as 3.5%
  • Lower closing costs
  • Easier credit qualifying
  • Allows for use of gifts for down payment and closing cost
  • No prepayment penalties
  • An FHA loan may be assumable
  • Possible leniency during financial hard times
  • Funding for home improvement (through FHA 203K program)
  • Flexible credit, income and debt requirements
  • Low down payment requirements
  • Allows for a seller concession of up to 6% of the sales price for buyer’s closing costs
  • Higher allowable debt-to-income ratios
  • Down payment assistant program available for qualified buyers

With an FHA loan, you will pay a monthly mortgage insurance premium (MIP) as part of your monthly mortgage payment, but the FHA MIP is often lower than the equivalent private mortgage insurance (PMI) premium that you might have to pay on a conventional loan with a low down payment.

There are many benefits to FHA loans. Call ZABE Mortgage Group or apply online to find out if you can benefit from an FHA loan.

VA Loan

A VA loan is a mortgage that is guaranteed by the U.S. Department of Veterans Affairs (VA). The VA helps active military, veterans and eligible surviving spouses become homeowners by enabling VA-approved lenders to offer loans with these benefits:

  • No down payment required*
  • No Private Mortgage Insurance premium (PMI)
  • No Monthly Mortgage Insurance premium (MMI)
  • Flexible credit, income and asset requirements
  • Very competitive rates
  • Allows for use of gifts for closing costs and prepaid fees
  • Allows for a seller concession of up to 4% of the sales price for buyer’s closing costs
  • No pre-payment penalties
  • The buyer may only be charged the fees and other charges prescribed by
    VA as allowable
  • Loans are also available to reservists and surviving spouses.
  • Down payment assistance programs available for qualified buyers.

Who is Eligible for a VA Loan?

  • Active military (including members of the National Guard or Reserves)
  • Veterans
  • Eligible surviving spouses

You must also meet credit and income requirements and have a valid Certificate of Eligibility (COE).

ZABE Mortgage Group is a VA-approved lender with more than 16 years of experience. Call ZABE Mortgage Group or apply online to learn more about VA loans.

*As long as the sales price does not exceed the appraised value.

Conventional Loans

If you are applying for a mortgage, here is what you need to know about conventional loans:

  • A conventional loan offers buyers the ability to avoid or cancel mortgage insurance upfront or during the life of the loan.
  • Monthly Mortgage Insurance (MMI) is usually less than an FHA loan
  • Options to pay a one-time “Single-Premium” Mortgage Insurance to eliminate Monthly Mortgage Insurance when giving less than 20% down payment.
  • No Mortgage Insurance (monthly or premium) with a 20% or greater down payment.
  • Allows for a seller concession of up to 3% of the sales price for buyer’s closing costs if the down payment is less than 10% 
  • Conventional loans typically require higher down payments but they usually have lower interest rates.
  • Conventional loans may be processed faster because there is usually less paperwork than government-backed loans.
  • Down payment assistance programs available for qualified buyers.

Conventional loans are available as fixed rate or adjustable rate mortgages.

Call ZABE Mortgage Group or apply online to find out if a conventional loan is right for you.


The USDA Guaranteed Loan Program provides one of the most affordable loan programs to Americans today. This is a great program for those that qualify because it is a 100% financing program, meaning there is no down payment required. USDA Home Loans can be used to purchase or refinance your home.

Benefits of Using a USDA Loan:

  • 100% Financing
  • No money down
  • Low monthly mortgage insurance
  • Low interest rates
  • Easier credit qualification
  • Low fixed monthly payments
  • No prepayment penalty
  • 15, 20, and 30 year fixed-rate options
  • Using an USDA Approved lender usually means lower closing costs

How do I know if I qualify for a USDA Rural Home Loan?

Rural Housing Loans are now easier to qualify and are a financially secure option for any homeowner. Financing depends on two factors and does have some limitations including the location of the home and the total combined income of the household.

Jumbo Loans

Jumbo Home Loans are great for home buyers looking to purchase a higher priced home. Unlike other government programs like FHA or USDA, Jumbo loans are especially catered for loan amounts higher than $417,000, the maximum conforming limits set by Fannie Mae and Freddie Mac.

If you want a higher property value and can manage larger monthly payments, consider using a jumbo loan. You’ll not only have the convenience of one loan for the entire loan amount but you’ll have a variety of loan options to choose from as well. Find out more about Jumbo Loans today by filling out an application online or contacting one of our Jumbo Home Loan specialists today.

Down Payment Assistance Program

Are you a homeowner in search of the perfect home, but are confused about the different options available when it comes to home financing? Are you aware that there are numerous options available for homebuyers that can connect you with valuable financial resources? At ZABE Mortgage Group, we have the perfect tool to help you target those hard to find financial resources, and assist you in achieving home ownership.

Our ZABE Down Payment Assistance Search Tool helps homeowners move through the process of being a prospecting homebuyer to becoming a qualified homebuyer. The ZABE Down Payment Assistance Search Tool does this by connecting the prospecting homebuyer with down payment assistance programs and funds that a majority of prospects are unaware of.

At ZABE Mortgage Group, we not only strive to assist prospecting homebuyers with their home financing needs, but we also have the technology to match available homes and real estate with qualified buyers, and take things one step further by matching those qualified buyers with homeownership programs – through the ZABE Down Payment Assistance Search Tool.

How do we achieve this? The answer is simple, through developing strategic partnerships. The ZABE Down Payment Assistance Search Tool has strategic partnerships with:

  • Housing Finance Agencies
  • Realtors
  • Home Builders
  • Down Payment Resources

The ZABE Down Payment Assistance Search Tool can help you discover the available programs and provide you with your dreams of homeownership so don’t wait, access our system today.