AVAILABLE LOANS
When it comes to finding a mortgage, the possibilities are endless. However, being overwhelmed by choice doesn’t mean you should take whatever is offered to you first. Contact me for information about different types of mortgage loans and I’ll be happy to explain them and help you find one that suits your needs and preferences.
CONVENTIONAL LOAN
Prospective Property Owners
A conventional loan is a loan backed by either Fannie Mae or Freddie Mac, the two entities which comprise the Federal Housing Finance Agency (FHFA). More than half of all new mortgage loans are conventional loans, which include special mortgage programs such as the HomeReadyâ„¢ mortgage and the Conventional 97.
FHA AND VA LOANS
The Right Loan for You
An FHA loan is a mortgage insured by the Federal Housing Administration. Borrowers with FHA loans pay for mortgage insurance, which protects the lender from a loss if the borrower defaults on the loan. A VA loan is a mortgage loan in the United States guaranteed by the U.S. Department of Veterans Affairs (VA). The loan may be issued by qualified lenders. The VA loan was designed to offer long-term financing to eligible American veterans.
USDA LOAN
A Brighter Future
It’s easy to get lost while navigating all the different types of mortgage loans available. USDA loans are mortgages backed by the U.S. Department of Agriculture as part of its USDA Rural Development Guaranteed Housing Loan program. USDA loans are available to home buyers with below-average income, offer 100% financing with reduced mortgage insurance premiums, and feature below-market mortgage rates.
Contact me for more details about the types of loans that best fit your financial needs and goals.