Search Contact Locate

Locations

row-of-homes

FHA and VA Loans

Bremer Bank is an FHA-approved and VA-approved lender

Federal Housing Administration (FHA) loans provide lending solutions for those who may not fit the requirements of conventional financing. This government-insured loan may be an attractive option for first-time buyers and borrowers with limited funds for a down payment.

Veterans Affairs (VA) loans provide flexible lending solutions for those who serve our country. This government-insured loan may be an attractive option for veterans who are first-time buyers or have little money for a down payment.


FHA Loan
VA Loan
Benefits
  • Finance up to 96.5% of the purchase price
  • Low down payment options available
  • Extended rate lock up to 180 days
  • Mortgage insurance is funded into the loan
  • 100% of borrower contribution can be from gift funds
  • Seller paids allowed
  • Assumable mortgage
  • Bremer Bank is an FHA-approved lender
  • Equal opportunity to all qualified veterans
  • Up to 100% LTV with full entitlement for loans up to $417,000
  • Lender- and seller-paid buydowns allowed
  • No reserves required
  • Extended rate lock up to 180 days
  • No mortgage insurance premiums
  • Closing costs are comparable with other financing types
  • An assumable mortgage (specific conditions may apply)
  • Soldiers/Sailors Relief Act – providing VA assistance to borrowers in default due to temporary financial distress.
  • Bremer Bank is a VA-approved lender
Eligibility Requirements
  • Maximum loan limits vary by county and the number of units
  • Eligible with most first-time homebuyer programs
  • Owner-occupied, primary residence only
  • Prepayment penalties are not allowed
  • Borrower must be a veteran who was discharged or released from active duty under conditions other than dishonorable, or currently serving in active duty.
  • Minimum service required during wartime periods is 90 days of active duty (181 days for peacetime)
  • Veterans who served less than the minimum required period may be eligible if discharged because of service-related disabilities
  • Unmarried surviving spouse of an eligible service member who died as a result of service or service-connected injuries
  • Minimum of six years of service in National Guard/Reserves
  • FHA Loan

    • Benefits
      • Finance up to 96.5% of the purchase price
      • Low down payment options available
      • Extended rate lock up to 180 days
      • Mortgage insurance is funded into the loan
      • 100% of borrower contribution can be from gift funds
      • Seller paids allowed
      • Assumable mortgage
      • Bremer Bank is an FHA-approved lender
    • Eligibility Requirements
      • Maximum loan limits vary by county and the number of units
      • Eligible with most first-time homebuyer programs
      • Owner-occupied, primary residence only
      • Prepayment penalties are not allowed
  • VA Loan

    • Benefits
      • Equal opportunity to all qualified veterans
      • Up to 100% LTV with full entitlement for loans up to $417,000
      • Lender- and seller-paid buydowns allowed
      • No reserves required
      • Extended rate lock up to 180 days
      • No mortgage insurance premiums
      • Closing costs are comparable with other financing types
      • An assumable mortgage (specific conditions may apply)
      • Soldiers/Sailors Relief Act – providing VA assistance to borrowers in default due to temporary financial distress.
      • Bremer Bank is a VA-approved lender
    • Eligibility Requirements
      • Borrower must be a veteran who was discharged or released from active duty under conditions other than dishonorable, or currently serving in active duty.
      • Minimum service required during wartime periods is 90 days of active duty (181 days for peacetime)
      • Veterans who served less than the minimum required period may be eligible if discharged because of service-related disabilities
      • Unmarried surviving spouse of an eligible service member who died as a result of service or service-connected injuries
      • Minimum of six years of service in National Guard/Reserves

Your Bremer mortgage loan officer will help you assess your individual situation and determine if an FHA or VA loan may be right for you.

Start your application online with a mortgage loan officer near you or contact us today.

© 2016 Bremer Financial Corporation. All rights reserved.

Deposit products offered by Bremer Bank. Member FDIC.

Equal Housing Lender