Home Loan Options

 

Home Loan Options

 

Learn More About the Types of Home Loans Available to You

 

When it comes time to find funding for a home purchase, it can feel overwhelming to consider all of the information and programs available to homebuyers. That’s why we’ve put together this handy summary of typical home loan options for you to review.

 

  • Conventional Loan: Conventional loans follow the guidelines created by GSEs (government-sponsored enterprises) Fannie Mae and Freddie Mac but are not guaranteed or insured by the federal government. Loans can be fixed or adjustable and often require a smaller down payment than other loan types.

 

  • FHA Loan: Another type of loan with a low down payment is the FHA loan. This loan through the Federal Housing Administration is backed by the federal government. Choose either a fixed or adjustable loan and enjoy the ability to qualify for this type of loan more easily than some other types.

 

  • Veterans Administration Loan: If you have served or currently serve in any branch of the U.S. military, then you likely qualify for a VA loan. VA loans do not require any down payment.

 

  • USDA Rural Development Loan: USDA rural development loans are perfect for homebuyers who wish to purchase in a rural area.  This loan product requires no money down and very low interest rates.

 

  • Jumbo Loan: If your home purchase requires a loan of more than $417,000, a jumbo loan may be for you. Loan qualifications are stricter than with other loan types.

 

If you have questions about a particular type of home loan or are ready to apply for a loan, contact us today and we will get you all the information you need and help you to navigate the process as easily as possible!

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Posted by Brian Pritchard in General

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Home Loan Options

June 17, 2016 by Brian Pritchard

Home Loan Options Learn More About the Types of Home Loans Available to You When it comes time to find funding for a home purchase, it can feel overwhelming to consider all of the information and programs available to homebuyers. Thats why weve put together this handy summary of typical home loan options for you to review. Conventional Loan:Conventional loans follow the guidelines created by GSEs (government-sponsored enterprises) Fannie Mae and Freddie Mac but are not guaranteed or insured by the federal government. Loans can be fixed or adjustable and often require a smaller down payment than other loan types. FHA Loan:Another type of loan with a low down payment is the FHA loan. This loan through the Federal Housing Administration is backed by the federal government. Choose either a fixed or adjustable loan and enjoy the ability to qualify for this type of loan more easily than some other types. Veterans Administration Loan:If you have served or currently serve

Home Loan Options

June 09, 2016 by Brian Pritchard

Home Loan Options Learn More About the Types of Home Loans Available to You When it comes time to find funding for a home purchase, it can feel overwhelming to consider all of the information and programs available to homebuyers. Thats why weve put together this handy summary of typical home loan options for you to review. Conventional Loan: Conventional loans follow the guidelines created by GSEs (government-sponsored enterprises) Fannie Mae and Freddie Mac but are not guaranteed or insured by the federal government. Loans can be fixed or adjustable and often require a smaller down payment than other loan types. FHA Loan: Another type of loan with a low down payment is the FHA loan. This loan through the Federal Housing Administration is backed by the federal government. Choose either a fixed or adjustable loan and enjoy the ability to qualify for this type of loan more easily than some other types. Veterans Administration Loan: If you have served or currently serve

The Refinancing Option

June 06, 2016 by Brian Pritchard

The Refinancing Option Helpful Info for Homeowners Considering a Refinance Homeowners consider refinancing for a number of different reasons. Sometimes, the goal is to consolidate debts into the home loan to reduce overall interest in the long run. Other times, the goal is simply to lower monthly mortgage payments by taking advantage of a mortgage rate that is lower than that secured during the initial purchase of the home. Whatever your reasons for looking into refinancing a house, we are here to help you understand the scope of your refinance options. Types of Refinance Loans Conventional: This straightforward refinance option is a good starting point when exploring refinancing your home. The greater the equity you have in your home, the better a conventional refinance will work for you. HARP (Home Affordable Refinance Program): HARP is a government-backed refinance program designed to help make your payments more affordable so you can stay in the home. FHA Streamline:

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