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FHA Purchase and Refi

A low down payment government loan is ideal for borrowers who may not otherwise qualify for a mortgage.

These government-backed loans offer a very low down payment, even for borrowers with less-than-perfect credit. If you can’t qualify for a conventional loan, a Low Down Payment Government Loan may be for you.

  • Low down payment
  • Flexible credit review
  • Fixed or adjustable rate
  • Limited closing costs; seller can help pay closing costs
  • No prepayment penalty

The Federal Housing Administration has also made it easy to refinance an FHA loan.

  • Limited credit or income documentation required to qualify
  • Limited employment documentation required
  • No property appraisal required

Why Blue Water?

Blue Water’s team has over 150 years of collective mortgage experience we have the knowledge and ability to get your loan closed on time with the best terms and lowest rates for you.

Frequently Asked Questions

Can I exclude an installment debt like a car loan if I have less than 10 payments left?
Can I exclude debts that I co-signed (contingent liability)?
Can we roll closing costs into the loan on a purchase?
Do I have to pay mortgage insurance for the life of the loan
Do I have to provide cancelled rent checks if I’m a first time home buyer?
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Blue Water Mortgage Customer Reviews

The loan experience could not have been any better. As a first-time Home Buyer, I had questions and Blue Water Mortgage was willing and able to answer them all.  I would recommend Blue Water to anyone looking for a home mortgage.

Jane S. Bedford, NH

I would recommend the organization with a 10 out of 10. They worked through a ton of grey area to get through a few last minute road blocks. I really felt like they were putting in the extra effort for me. I would absolutely recommend Blue Water to any first time home buyer.

Dan V. Kittery, ME

My experience with Blue Water Mortgage was fantastic. The representatives were very professional and treated me as though I was their most important customer. I was a first time home buyer and Blue Water Mortgage took the stress out of a normally stressful process.

Chris D. Longmeadow, MA

Home Loan Resources


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10 Questions to Ask When Buying a Home

This ebook will help you better understand the home buying process so you can make a more informed buying decision.

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Gathering the documents in this checklist will help speed up the application process.

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Please be advised that your actual rate, payment, and cost could be higher. Get an official Loan Estimate before choosing a loan. This estimate is provided for informational purposes ONLY, to assist you in determining an estimate of cash that may be required to close and an estimate of your proposed monthly mortgage payment. Actual charges may be more or less, and your transaction may not involve a fee for every item listed.

Rate and APR based on the following assumptions: Purchase Price of $250,000, loan amount of $200,000, 80% loan to value, 740 credit score, single family property, primary residence, escrowing taxes and insurance, debt ratio within program guidelines.