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Amanda Sheets
REALTOR®
(419) 544-2107
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Finance Options

Mortgage Calculators

Loan Type:

Conventional

FHA

VA

USDA

Credit Score (Minimum):

620

580

620

580 (More Lenient Credit Qualifications)

Down Payment:

Minimum of 5% (3% for Some)

3.5%

0%

0%

Can Down Payment be gifted?:

Typically 100% of Down Payment can be gifted

100% of Down Payment can be gifted

Down Payment Not Required

Down Payment Not Required

Interest Rate:

Higher

Lower

Lower

Lower

Private Mortgage Insurance (PMI):

Required if Down payment is less than 20%

Upfront Mortgage Insurance & Monthly Mortgage Insurance

No Private Mortgage Insurance Required

Upfront Mortgage Insurance & Monthly Mortgage Insurance

Credit Sensitivity:

Interest Rates and Mortgage Insurance are significantly higher with lower scores

Competitive rates regardless of credit score and mortgage insurance is based off loan amount, not credit score.

Competitive rates regardless of credit score and mortgage insurance is based off loan amount, not credit score.

Competitive rates regardless of credit score and mortgage insurance is based off loan amount, not credit score.

Property Requirements:

Minimum Property Requirements

FHA has strict property requirements and home must be in good shape

VA has strict property requirements. Home Inspections must include a termite inspection paid for by the Seller.

USDA applies to specific areas. Found through Eligibility Map link. 

Applicant must fall below income limit per household to apply.

Limit 1-4 Person $86,850

5-8 Person

$114,650

Purpose of Loan:

Primary Residences 2nd Homes Investment Properties

Primary Residence Only (Including Multi-family properties i.e. Duplex as long as they are owner occupied)

Primary Residence Only

Primary Residence Only

Loan Limit:

$548,250

$356,362

$548,250

$548,250

Ideal For:

Borrowers with higher Credit (700+) lower down payments (10%+) or purchasing an investment property, second home or condo. 

Borrower with lower credit or purchasing multi-family home

Borrower that was or is a veteran buying a primary residence.

Borrower looking to purchase a home with little to no money down, in a small town rural area with little to no acreage or outbuildings. 

source: Internet, 2021

Disclaimer: All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information on this site was last updated 12/04/2022. The listing information on this page last changed on 12/04/2022. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of NORIS MLS (last updated Sun 12/04/2022 2:39:13 PM EST) or CBRMLS (last updated Sun 12/04/2022 2:39:31 PM EST) or Ashland MLS (last updated Sun 12/04/2022 2:30:16 PM EST) or Firelands MLS (last updated Sun 12/04/2022 2:11:37 PM EST) or MLS NOW (last updated Sun 12/04/2022 2:37:31 PM EST) or Mansfield MLS (last updated Sun 12/04/2022 2:37:12 PM EST). Real estate listings held by brokerage firms other than Haring Realty may be marked with the Internet Data Exchange logo and detailed information about those properties will include the name of the listing broker(s) when required by the MLS. All rights reserved. --

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