The good news is that there are many types of home loans available that can help make your homebuying dream come true. The trick is understanding the nuances of the different mortgage types, along with the pros and cons associated with each. With this information in hand, you can get that...
Purchasing and Refinancing Loans Conventional mortgages are loans that are insured by private companies. Typically, these loans meet the funding criteria set by Fannie Mae and Freddie Mac. There are a number of conventional loan types offered by First Home Mortgage: ...
It feels like there are a bazillion types of mortgage loans to choose from. That’s because mortgage programs keep inventing new ways to “help” people who aren’tfinancially ready to buy a houseto buy one anyway. But getting the wrong mortgage could cost you tens of thousands of dollars...
When might afixed-rate mortgagemake sense? If you plan on owning your home for a long time (generally 7 years or more) If you think interest rates could rise in the next few years and you want to keep the current rate If you prefer the stability of a fixed principal and interest paym...
The main types of mortgage loans include: conventional, government (FHA, VA, USDA), fixed-rate and adjustable-rate. The only good one is a 15-year fixed-rate.
Direct lenders provide loans to borrowers without an intermediary such as a mortgage broker. Working with a direct lender allows borrowers to save money on broker fees. Again, there’s overlap with other types of mortgage lenders.6. Portfolio lenders...
Adjustable-rate mortgage (ARM) Other types of home loans How to choose the right type of mortgage loan for you Key takeaways The main types of mortgages are conventional loans, government-backed loans, jumbo loans, fixed-rate loans and adjustable-rate loans. ...
A deposit is a cash sum you’ll pay towards the value of a home when buying a property. Find out everything you should know about mortgage deposits, including how much you might need. Learn about mortgage deposits Mortgage eligibility explained ...
7 Main Types of Mortgage Loans With several types of mortgage loans available, it helps to know the details. Read up about them below or contact us to start your application today. Get in the Game! Beat Other Homebuyers Stuck on the Sidelines Apply now as mortgage rates fall! We’re ...
Our experienced mortgage loan officers will help determine whether you and the property are eligible for USDA guaranteed loans. With this type of loan, you may qualify for 100% financing with no down payment. For some qualified borrowers, there’s no maximum purchase price, and this is not ...