800-917-8997

Compare Loan Programs

The outline below will help you determine which of our loan products is best for you:
Fixed-Rate Mortgages
FHA Mortgages
VA Mortgages
Missouri Housing Development Commission (MHDC)
USDA Rural Development Loans
Adjustable Rate Mortgages
First-Time Buyer Programs
Jumbo Loan Programs

View the Shopping For Your Home Loan - HUD-1 Settlement Cost Booklet

Fixed-Rate Mortgages back to top
30-year fixed, 15-year fixed
Advantages: Disadvantages:
  • Monthly payments are fixed over the life of the loan
  • Interest rate does not change
  • You’re protected if rates increase
  • Option to refinance if rates decrease
  • Higher interest rate
  • Higher mortgage payments
  • Rate does not drop if interest rates decrease
Federal Housing Administration (FHA) Mortgages back to top
>>Learn More about the Federal Housing Administration 
30-year fixed, 15-year fixed, Adjustable Rate Mortgage (ARM)
Advantages: Disadvantages:
  • Only need 3.5% down payment
  • Down payment can come in the form of a gift
  • Seller can pay up to 6% of closing costs
  • Former bankruptcy and/or less-than-perfect credit may not be a problem
  • Must purchase Mortgage Insurance (MI)
  • All outstanding judgements must be paid in advance of closing
  • May take longer to process than a conventional loan
Department of Veteran Affairs (VA) Mortgages back to top
>>Learn More about Loans for Veterans
30-year fixed, 15-year fixed, Adjustable Rate Mortgage (ARM)
Advantages: Disadvantages:
  • Up to 100% of loan amount can be financed
  • Seller can pay all closing costs and/or discount points
  • No Mortgage Insurance (MI)
  • No cash reserves necessary
  • Most loans are assumable
  • Eligibility requirements vary
  • Can only be use a limited amount of times
  • May take longer to process than a conventional loan
Missouri Housing Development Commission (MHDC) back to top
30-year fixed, Refinance Loan, Cash Assistance Loan (CAL), 
Non Cash Assistance Loan (Non CAL), 
>>Learn More about Missouri Housing Development Commission Loans
Advantages: Disadvantages:
  • Qualified first-time homebuyers are eligible to receive a forgivable grant of 4.5% for down payment and closing costs
  • Competitive interest rates available
  • FHA, VA, USDA/Rural Development, or Fannie Mae 30 year conventional mortgages may be used under the rules of this program
  • Eligibility requirements vary
  • Can only be use on qualified properties
  • Purchase price limits
  • Household income restrictions
United States Department of Agriculture (USDA)
Rural Development (RD) Loans back to top
>>Learn More about USDA Rural Development
30-year fixed
Advantages: Disadvantages:
  • Up to 102% of property's appraised value can be financed
  • Seller can pay all closing costs and/or discount points
  • No Mortgage Insurance (MI)
  • No Down Payment necessary
  • Available for low income applicants (below 50% of are median income)
  • Modular and "new" manufactured homes allowed
  • No Maximum Loan Amount
  • Eligibility requirements vary
  • Can only be use on qualified properties
  • Income limits for applicants
Adjustable Rate Mortgages back to top
10/1 ARM, 7/1 ARM, 3/1 ARM, 1-year ARM, 6-month ARM, 1-month ARM
View the Consumer Handbook on Adjustable-Rate Mortgages
Advantages: Disadvantages:
  • Lower initial monthly payment
  • Lower payment over a shorter period of time
  • Rates and payments may go down if rates decrease
  • May qualify for higher loan amounts
  • More risk
  • Payments may change over time
  • Potential for high payments if rates increase
First-Time Buyer Programs back to top
>>Learn More about the advantages of being a First-Time Homebuyer
Advantages: Disadvantages:
  • Lower down payment
  • Easier to qualify
  • You may get lower rates
  • May be subject to income and property value limitations
  • Some programs with government subsidies may have a recapture tax if you sell the house too early.
Jumbo Loan Programs back to top
Advantages: Disadvantages:
  • Get loans for higher loan amounts
  • Get fixed or adjustable loan terms
Learn more about available loan programs with Enterprise Home Loans.  

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Address: 1281 N. Warson Road St. Louis, Missouri 63132

Phone: (800) 917-8997

Email: mortgage@enterprisebank.com

NMLS# 593661

 The Home Scouting Report® (HSR) and Sold Home Alert® (SHA) are free home finding services provided directly to you as a homebuyer by Home Buyers Marketing II, Inc. (HBM II), a licensed real estate brokerage services company.  As a Preferred Lender of HBM II, the role of the Loan Officer at Enterprise Home Loans is to assist in determining a comfortable home price range for HBM II to use when it is searching for property listings within your search criteria.  The Preferred Lender's Loan Officer is neither an employee of HBM II, nor the provider of the HSR or SHA. © 2014 Home Buyers Marketing II, Inc.