Innovative financing solutions
C&F Mortgage products and programs
At C&F Mortgage, we provide the best financing options to meet your specific goals. We are equipped with the right loan solutions and years of industry expertise to enable us to exceed your expectations.
We have access to the financing solution to meet your individual needs!
Low to no down payment options
Fannie Mae HomeReady, Freddie Mac Home Possible, FHA, USDA, VA, Virginia Housing, FHLB Grant funds and Maryland Community Development Administration
First-time homebuyer options
Fannie Mae HomeReady, Freddie Mac Home Possible, FHA, USDA, VA, Virginia Housing, FHLB Grant funds and Maryland Community Development Administration
Down payment assistance and grant fund options
Virginia Housing, FHLB Grant funds and Maryland Community Development Administration. Local state and city sources may have additional grant fund options available
Military veteran options
VA, Virginia Housing, FHLB Community Partners Product and Maryland Community Development Administration. Local state and city sources may have additional grant fund options available.
Rural community options
USDA
Renovation options
FHA 203k, Fannie Mae Homestyle and VA Renovation
Jumbo loan options
State housing finance agency options
Virginia Housing and Maryland Community Development Administration
Construction options
Condo loan options
Condo options are available on many of our loan programs. Contact us to learn more.
Variable loan term options
Variable loan term options are available on many of our loan programs. Contact us to learn more.
Manufactured housing options
Contact us to learn more.
Primary, Second home and Investment property options
Primary, second home and investment property options are available on many of our loan programs. Contact us to learn more.
Non-QM options
Sometimes unique circumstances or challenging scenarios can push borrowers outside of traditional financing guidelines. Luckily, at C&F Mortgage we offer non-QM mortgage options that expand the financing solutions available to help make homeownership possible. Learn more >>>
Conventional Options
A conventional loan is a mortgage that is not part of a specific government program. Homebuyers may choose a conventional loan because they offer the best interest rates and loan terms — usually resulting in a lower monthly payment. Homeowners may also choose a conventional loan if they have 20% to put down and avoid mortgage insurance.
As low as 3% down payment if first-time homebuyer
As low as 5% down payment if not first-time homebuyer
Ideal for borrowers with stronger credit history
Fannie Mae HomeReady
This program offers expanded eligibility guidelines to help borrowers achieve homeownership.
Program Highlights
As low as 3% down payment
Lower mortgage insurance (MI) options
Flexible down payment sources
Comprehensive homeownership education
Income limits vary by location
Freddie Mac Home Possible
This program offers more options and credit flexibilities than ever before to help mid-to-low income borrowers attain the dream of owning a home.
Program Highlights
As low as 3% down payment
Lower mortgage insurance (MI) options
Flexible down payment sources
Comprehensive homeownership education
Income limits vary by location
FHA Loans
The Federal Housing Administration (FHA) offers flexible lending programs that provide mortgage solutions to qualified borrowers.
Program Highlights
As low as 3.5% down payment
Purchase and refinance options available
More credit flexibility
Monetary gifts from family accepted toward down payment, closing costs, discount points, and other prepaid expenses allowed
Good Neighbor Next Door Program (GNND) allowed (only available on FHA REO properties)
USDA Loan
This loan program is offered through the Rural Housing Service, an agency of the U.S. Department of Agriculture, and is designed to assist low and moderate income residents by providing better access to affordable housing finance options including little out-of-pocket costs in eligible areas.
Program Highlights
Up to 100% financing
No cash reserves requirements
Closing costs can be financed if certain requirements are met
More credit flexibility
No first-time homebuyer requirement
Property must be primary residence
Income and credit restrictions apply
Limited to "rural" areas as designated by USDA
Purchase only
VA Loan
This loan program is a government lending option designed to make homeownership affordable for qualified US veterans or surviving spouses.
Program Highlights
Up to 100% financing (purchase only)
More credit flexibility
No monthly mortgage insurance
No first-time homebuyer requirement
Gift funds acceptable for closing costs
A variety of terms or loan types available
Purchase or refinance
Renovation Options
FHA 203(k)
FHA 203(k) loans are backed by the Federal Housing Administration (FHA) and designed to help borrowers finance a home that needs significant repairs.
Used for remodeling and repairs
Purchase or refinance
Primary residence only
Loan amount based on the lesser of as-completed value of the home or sales price, plus the total cost of renovation
Requires only 3.5% down payment
Allows monetary gifts from family
Minimum renovation of $5,000 for Standard (Maximum based on project specifications)
Maximum renovation of $35,000 for Limited (No minimum)
Fannie Mae Homestyle
Allows for the financing of all improvements that are fixed on the property that add value, including luxury items permanently attached such as swimming pools and patios (cannot exceed 75% of as completed value).
Purchase or refinance
Primary, second home or investment property
Requires as little as 5% down on primary residences and 10% down on second homes and investment properties
VA Renovation
Allows VA qualified borrowers to borrow up to 100% of the lesser of the sales price plus repairs or the “after approved” value of the home
Purchase or refinance
Primary residence only
Up to $50,000 in repairs
Construction Options
If you are building a new home, C&F has access to all the tools you’ll need: lot loans, construction financing, permanent mortgage and local industry experts to facilitate the entire process. Contact us to learn more about our specific construction options.
Program Highlights
Low construction rate and loan fees
Interest-only payments during construction
Up to 90% financing available (loan amount restrictions apply)
No mortgage insurance required during the construction phase
Jumbo, rehab and second home options available
Use your current land as equity for down payment
Lot loans up to 70% loan-to-value with multiple term options and competitive rates
Jumbo Options
This is a loan when the loan amount exceeds the conforming loan limits set by the government. Contact us to learn more about our specific Jumbo options.
Program Highlights
Loans up to $3 million on primary residences
Loans up to $2 million on second homes
Financing on 1-unit investment properties
90% LTV on loans up to $900k (mortgage insurance required; 1-unit primary only)
89.9% LTV - no MI required on loans up to $1 million (1-unit primary only)
Financing on condos available
Cash-out refinances and ARMs available
C&F Mortgage is a Top Virginia Housing Lender.
Virginia Housing offers affordable housing opportunities for Virginians who otherwise might not be able to afford quality housing.
Conventional Product
- The Virginia Housing Conventional loan provides affordable financing for first-time and repeat homebuyers.
- As low as 3% down payment required
- Affordable monthly payment
- Helps existing homebuyers “move up”
- As low as 1% down with Virginia Housing DPA Grant
- Could help to reduce existing mortgage payment
- Available for first-time and repeat buyers
- Eligible for Virginia Housing’s Down Payment Assistance grant (DPA) (restrictions apply)
- Eligible for Mortgage Credit Certificate (MCC) (restrictions apply)
- Available for limited cash-out transactions as well as purchases
- Eligible for Virginia Housing’s Plus Second Mortgage.
Conventional No Mortgage Insurance (MI) Product
- The Virginia Housing Conventional No Mortgage Insurance (MI) loan provides affordable monthly payments, with no mortgage insurance required.
- As low as 3% down payment required
- Affordable monthly payment
- Helps existing homebuyers “move up”
- As low as 1% down with Virginia Housing DPA Grant
- Could help to reduce existing mortgage payment
- Monthly payment is lower than other government/conventional loan programs
- No monthly mortgage insurance requirement
- Available for first-time and repeat buyers
- Eligible for Virginia Housing’s Down Payment Assistance grant (DPA) (restrictions apply)
- Eligible for Mortgage Credit Certificate (MCC) (restrictions apply)
- Available for limited cash-out transactions as well as purchases
FHA Product
- Virginia Housing offers several types of federal government loans for first-time homebuyers. These loans are eligible for Virginia Housing grants that reduce the out-of-pocket expenses for qualified borrowers. Homebuyers who qualify for one of these loans may also take advantage of Virginia Housing’s Mortgage Credit Certificate program.
- FHA insured
- As low as 3.5% down payment
- Liberal credit qualifying
- As low as 1% down with Virginia Housing DPA Grant
- Eligible for Virginia Housing’s Down Payment Assistance grant (DPA) (restrictions apply)
- Eligible for Mortgage Credit Certificate (MCC) (restrictions apply)
- Eligible for Virginia Housing’s Plus Second Mortgage
VA Product
- Virginia Housing offers several types of federal government loans for first-time homebuyers. These loans are eligible for Virginia Housing grants that reduce the out-of-pocket expenses for qualified borrowers. Homebuyers who qualify for one of these loans may also take advantage of Virginia Housing’s Mortgage Credit Certificate program.
- VA guaranteed
- As low as 0% down payment
- Liberal credit qualifying
- Eligible for Virginia Housing’s Closing Cost Assistance (CCA) grant
- Eligible for Mortgage Credit Certificate (MCC)
USDA Product
- Virginia Housing offers several types of federal government loans for first-time homebuyers. These loans are eligible for Virginia Housing grants that reduce the out-of-pocket expenses for qualified borrowers. Homebuyers who qualify for one of these loans may also take advantage of Virginia Housing’s Mortgage Credit Certificate program.
- USDA guaranteed
- As low as 0% down payment
- Low mortgage insurance
- Eligible for Virginia Housing’s Closing Cost Assistance (CCA) grant
- Eligible for Mortgage Credit Certificate (MCC)
Virginia Housing Plus Second Mortgage
- The Virginia Housing Plus Second Mortgage eliminates the down payment requirement for qualified first-time homebuyers by pairing an eligible Virginia Housing first mortgage with a Virginia Housing second
mortgage to cover the down payment. - Eliminates funds needed for a down payment
- Helps to keep total mortgage payment affordable
- Could eliminate funds needed at closing
- Increases homeownership for first-time and specific repeat buyers
- Higher income limits assist buyers who don’t qualify for grant funds
- Can be paired with Mortgage Credit Certificate (MCC) program
Closing Cost Assistance (CCA) Grant
- The Closing Cost Assistance Grant reduces the out-of-pocket expenses
for borrowers applying for either a Rural Housing Service (RHS) or Veterans Affairs (VA) loan. This grant makes these 100% financing programs even more affordable. - Could eliminate funds needed for closing
- No repayment required
- Can be paired with Mortgage Credit Certificate (MCC)
- First-time buyer required
Down Payment Assistance (DPA) Grant
- This grant program gives qualified first-time homebuyers a percentage of their purchase price to be used toward the down payment.
- Program Highlights:
- Receive up to 2.5% of the purchase price for FHA loans or 2% for Fannie Mae
- Borrower must contribute at least 1% of the sales price (money can come from a gift)
- Can be used with Virginia Housing Fannie Mae, Virginia Housing FHA & Virginia Housing MCC programs
- No repayment required
- Cannot be combined with VA, USDA, Plus Loans, Virginia Housing Conventional bond or other down payment assistance programs
- Must meet income limits
FHLB Down Payment Assistance and Grant Funds
Through our partnership with the Federal Home Loan Bank (FHLB), we are proud to offer these grant funds to be used toward your down payment or closing costs.
First-Time Homebuyer Program
- Up to $12,500 in grant funds
- Available for qualified first-time homebuyers (or homebuyers who have not owned a home in the past 3 years)
- Income limits apply
- Must contribute at least $1,000 toward the purchase of the home
- Must occupy the home as the primary residence for at least five years
- Complete a homebuyer education and financial literacy course specified by the FHLBank Atlanta
- All funds available on a first come first serve basis
- Properties in certain counties in Virginia, Maryland and North Carolina
Community Partners Product
- Up to $15,000 in grant funds
- No first-time buyer requirement
- Available for qualified current or retired law enforcement officers, educators, healthcare workers, firefighters, other first responders, veterans and active-duty military, or their surviving spouse and COVID-related essential workers (as defined by state/local level) who are purchasing a home
- Income limits apply
- Must contribute at least $1,000 toward the purchase of the home
- Must occupy the home as the primary residence for at least five years
- Complete a homebuyer education and financial literacy course specified by the FHLBank Atlanta
- All funds available on a first come first serve basis
- Properties in certain counties in Virginia, Maryland and North Carolina
Maryland Mortgage Program
The Maryland Mortgage Program (MMP), provided by the Maryland Department of Housing and Community Development (DHCD), provides 30-year fixed-rate home loans to eligible homebuyers purchasing in Maryland with competitive loan terms and a range of associated financial incentives and other assistance that, for many homebuyers, means the difference between being able to purchase and continuing to rent.
MMP 1st Time Advantage
Offers eligible first-time homebuyers the lowest 30-year fixed interest rate available from the program for a home loan. (Mortgage credit certificates may not be layered with 1st Time Advantage loans.)
- 1st Time Advantage Direct: No down payment assistance (DPA) available, but usually offers our most competitive interest rates. External sources of DPA may be used.
- 1st Time Advantage 5000: Comes with a $5,000 loan for down payment and closing costs. This second lien has a 0% interest rate, and no payments are due for the life of the first mortgage. As soon as the first mortgage ends (repayment, refinance, transfer, sale, etc.), the second lien is due and payable. The $5,000 line is eligible for Partner Match funds, if applicable.
- 1st Time Advantage 3% Loan: Comes with a DPA loan equal to 3% of the first mortgage in a zero percent deferred second lien.
- Must meet qualifying criteria
Flex Loans
30-year, fixed-rate home loan products accompanied by additional funds for down payment and closing costs. The assistance is available in the form of no-interest, deferred loan or an outright grant (doesn’t get repaid).
- Flex Direct: No down payment assistance (DPA) available, but offers our most competitive interest rates that can still get a mortgage credit certificate (MCC). External sources of DPA may be used.
- Flex 5000: Comes with a $5,000 loan for down payment and closing costs. This second lien has a 0% interest rate, and no payments are due for the life of the first mortgage. As soon as the first mortgage ends (repayment, refinance, transfer, sale, etc.), the second lien is due and payable. The $5,000 line is eligible for Partner Match funds, if applicable.
- Flex 3% Loan: Comes with a DPA loan equal to 3% of the first mortgage in a zero percent deferred second lien.
- Flex 3% Grant: Comes with a grant equal to 3% of the first mortgage. Grant does not get repaid.
- Flex 4% Grant: Comes with a grant equal to 4% of the first mortgage. Grant does not get repaid.
- Must meet qualifying criteria
Partner Match
- Available only with Maryland Mortgage Premier loans. Funds available through the Partner Match Program are provided in the form of a no-interest, deferred loan and may be used for down payment and closing costs.
- These programs often include grants, loans and other helpful assistance, and you should begin research early in the home buying process to discover which programs may be available to you.
- If you’re using the 1st Time Advantage 5000 or the Flex 5000 loan products to purchase your home, any financial assistance you receive from one or more of these Partners is matched (up to $2,500) as additional down payment assistance. Just like the Loan Assist down payment assistance, this additional funding is available as a no-interest, deferred loan from the state, payable when the first mortgage is fully paid off.
- There are many organizations that have already been certified as Partners, and you can search Maryland CDA’s database of Employers, Homebuilders, Community Organization and Local Governments to find Partners that can help you.
Maryland SmartBuy
Maryland SmartBuy 2.0 gives homebuyers an opportunity to purchase any home in Maryland that meets Maryland Mortgage Program guidelines while paying off student debt.
- To qualify for the Maryland SmartBuy 2.0 program, homebuyers must have an existing student debt with a minimum balance of $1,000. Maryland SmartBuy 2.0 financing provides up to 15% of the home purchase price for the borrower to pay off their outstanding student debt with a maximum payoff amount of $30,000.
- The full student debt for at least one of the borrowers must be paid off at the time of the home purchase, and homebuyers must meet all eligibility requirements for the Maryland Mortgage program.
HomeAbility
HomeAbility is a special product designed to assist Maryland homebuyers with disabilities to finance their home purchase. This is a conventional loan product and provides 80% of the purchase price in a first mortgage and up to 25% of the purchase price (capped at $45,000) in a second lien to assist with down payment and closing costs.
Program Highlights:
- One of the borrowers is disabled OR one of the borrowers is a guardian for, resides with, and is the principal caregiver for an immediate family member who is disabled (regardless of age)
- Partner Match is not available with the HomeAbility product
- Borrower income may not exceed 80% of area medium income limits by county
- Regular MMP Household Income limits are still applicable
- Must meet qualifying criteria
Non-QM Mortgage Options
Sometimes unique circumstances or challenging scenarios can push borrowers outside of traditional financing guidelines. Luckily, at C&F Mortgage we offer non-QM mortgage options that expand the financing solutions available to help make homeownership possible.
95% LTV No MI
- Credit scores starting at 720
- Available only on Platinum
- 720 to 95% no MI
- Primary SFD, condo, or 2 unit
- Min loan $250,000 / Max $2,000,000
- 0x30x24 housing history
- 40/45 DTI
- BK / FC seasoning 7 years
- Six months reserves
- One year tax return available
Foreign National
This mortgage product is for foreign nationals wanting to purchase or refinance a home in the United States. This is a DSCR program with a 1:1 ratio on cash flow. This means that this loan is incredibly easy to do – no income or U.S. credit required to qualify.
- Maximum LTV of 70%
- Maximum LTV of 65% for cash out
- No foreign or U.S. credit score needed
- A DSCR program with a 1:1 ratio on cash flow
- Assets sourced and seasoned for 60 days – must be in a U.S. FDIC insured bank for
- a minimum of 30 days
- 12 months reserves required and must be in a U.S. bank
- ACH auto-payment is required
- Cannot reside in the United States
- Loan amounts up to $1.5 million, minimum loan amount of $75,000
Bank Statement
Created for self-employed borrowers to purchase or refinance. Since tax returns are not required, this could be a great option for credit worthy self-employed homebuyers!
- Up to 90% LTV
- Credit scores starting at 600
- Two years seasoning for foreclosure,
- short sale, bankruptcy or deed-in-lieu
- No tax returns required
- Loans up to $3 million
- Two years self-employed required
- 1099 option available
- Non-warrantable condos allowed
- Purchase and cash-out or rate-term refinance
- 12 or 24 months business bank statements (must own at least 50% of the business)
- 12 or 24 months personal bank statements (must own at least 25% of the business)
- Owner-occupied, second homes and non-owner occupied
Asset Qualifier
Perfect for Borrowers With High Net Worth and Significant Assets
Who Qualifies?
- No employment, no income, no DTI
- Primary residence
- Credit score 700 or higher
- Loans up to $3 million
- Maximum 75% LTV
- 5 years seasoning for foreclosure, short sale, or bankruptcy
Required Assets*
- Loan amount
- Recurring monthly debt multiplied by 60 months
- Funds to close and 6 months reserves
*Borrowers must have at least $500,000 in post-closing assets. See program guidelines for complete details.
Investor Cash Flow
Property Investors Can Build Their Portfolios Faster With Our Investor Cash Flow Program.
- Qualification based on property cash flow
- Minimum DSCR* 1.0
- DSCR 1.00 – 0.85 minimum 700
- FICO and max 80 % LTV
- No DSCR needed with minimum 700 FICO and max 75% LTV
- Credit scores starting at 600
- No personal income / no employment needed
- Up to 80% LTV
- 40 year fixed rate interest only available
- Loans up to $1.5 million, $75K minimum
- No limit on total number of properties
- Purchase and cash-out or rate-term refinance
- Properties can be in LLC’s name
- Non-warrantable condos allowed
*DSCR – Debt Service Coverage Ratio: Rent / Mortgage
Non-Warrantable Condos
The demand for condos is increasing and getting approved for a loan is easy when you work with us!
- Up to 90% LTV
- Credit scores starting at 620
- Loans up to $3 million
- Up to 100% investor concentration
- New construction: minimum 25% sold & closed
- Up to 50% DTI
- High and low rise condos acceptable
- Can qualify on all AOMS loan programs
- Owner-occupied, second homes, and investment properties
- No MI required
- No HOA Reserves required at lower LTVs in some cases
Platinum Jumbo
The “Just Missed” Borrower Can Qualify Using Our Non-QM Jumbo Solutions. Our Jumbo Program Helps You Close More Loans!
- Up to 95% LTV, No MI
- Credit scores starting at 660
- Loans up to $3 million;
- Minimum $250,000
- Four years seasoning for foreclosure, short sale, bankruptcy or DIL
- Full doc only
- Owner-occupied, second homes and non-owner occupied
- Purchase and cash-out or rate-term refinance
- DTI to 40/50%
- 40 year fixed rate interest only available
ITIN Mortgage Loan
Individual Tax Identification Number (ITIN) loans are for borrowers who do not have Social Security numbers. Borrowers with ITIN cards can qualify for a mortgage as long as they meet the eligibility requirements. This loan product is a full doc non-QM mortgage offering flexibility for individuals residing in the U.S. without requiring a Social Security card.
- Maximum LTV 75%
- Credit scores starting at 600
- One year seasoning for foreclosure, short sale, or deed-in-lieu
- Two years seasoning for bankruptcy
- Loans up to $2.5 million
- Primary home only
- Non-warrantable condos allowed
- Up to 50% DTI
- One unit only
- Purchase and cash-out or rate-term refinance
Portfolio Select
A full-doc product that offers borrowers all the flexibility, features and benefits of non-QM programs.
- Up to 90% LTV no MI
- Credit scores starting at 600
- One year seasoning for foreclosure, short sale or deed-in-lieu
- Two years seasoning for bankruptcy
- Loans up to $2.5 million
- Purchase and cash-out or rate-term refinance
- Owner-occupied, second homes, and investment properties
- Non-warrantable condos allowed
- Up to 50% DTI
- Gift funds allowed
- 40 year fixed rate interest only available
1099 Program
This is a great loan for a self-employed borrower who is a 1099 earner who cannot qualify for a full doc mortgage loan. Even better is that we will look at the most recent 1099 statements from one to two years ago!
- Up to 90% LTV with a 700 FICO
- Minimum FICO is 600 (Up to 70% LTV)
- No Tax Returns Required
- Provide the last one or two years of 1099’s with a YTD earnings statement, or, YTD bank statements
- Purchase, rate and term and cash out
- Borrower’s must be self-employed (1099) for last two years with the same company
- Owner occupied, second homes and investment
Interest Only
Lower Your Monthly Payments With an Interest Only Home Loan.
- Scores starting at 680 up to 85%
- Interest Only 40 year term (10 yr I/O then 30 year amortization)
- Loan amounts from $150,000 up to $3,000,000
- Full Doc, Bank Statements or Property Cash Flow available
- Owner occupied, investment property and second homes
The information contained herein (including but not limited to any description of the company and its lending programs and products, eligibility criteria, interest rates, fees and all other loan terms) is subject to change without notice. Restrictions apply. This is an advertisement and not a commitment to lend. C&F Mortgage Corporation NMLS# 147312 Equal Housing Lender.
Looking for additional affordable housing finance opportunities?
Buying a home is one of the largest investments people will make in their lives, and C&F Mortgage is dedicated to providing innovative financing solutions to make this dream a reality. There are many affordable housing opportunities available to help make home financing more attainable.
C&F University
C&F Mortgage is focused on helping all homebuyers navigate the home financing journey with ease. We’ve built robust tools and resources to allow you to expand your mortgage knowledge and build home-buying confidence.