Modus Mortgage

Loan Programs

Loan Programs

What Kind Of Loan Program Is Best For You?

Should you get a fixed-rate or adjustable rate mortgage? A conventional loan or a government loan? Deciding which mortgage product is best for you will depend largely on your unique circumstances, and there is no one correct answer.


The most common type of loan option, the traditional fixed-rate mortgage includes monthly principal and interest payments which never change during the loan’s lifetime.

VA Loans

VA loans are mortgages guaranteed by the Department of Veteran Affairs for ​​qualified veterans, active service members  and spouses. 

Manufactured Homes

Manufactured homes, or a home that is built in a factory and then taken to a home dealer, manufactured home community, or a privately owned plot of land. 


Construction loans are available to borrowers who would rather build a new home than purchase an existing one.

Jumbo Loans

A jumbo mortgage is a mortgage loan that may have high credit quality, but is an amount above conventional conforming loan limits.


Also known as a rehab loan, FHA 203(k) are purchase or refinance loans that cover the cost of the home itself and the cost to renovate in one fell swoop.

FHA Loans

FHA home loans are mortgages which are insured by the Federal Housing Administration (FHA), allowing borrowers to get low mortgage rates with a minimal down payment.


USDA loans are federally-backed loans (much like FHA or VA loans) that make purchasing a home easier in rural areas. 


Down payment assistance programs (DPAs) help homebuyers offset or, in some cases, fully cover the cost of the down payment when purchasing a home.

Have Questions? Contact Our Loan Officers

Louie Flores

Steve Fisher

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