A conventional mortgage is a home loan that isn’t backed by a government agency, such as the FHA or VA. Conventional mortgages often meet the down payment and income requirements set by Fannie Mae and Freddie Mac, and they often conform to the loan…
What is the FHA $100 Down Program? The FHA 100 down was created to remove some of the barriers to homeownership, and make it easier to purchase HUD homes. HUD homes are one to four-unit properties owned by the US Department of Housing and…
The many different types of loan programs available can seem overwhelming. Should you choose a fixed rate, adjustable rate or government loan mortgage? The truth is there is no right answer. Choosing a loan type is an important decision that is best made after…
A graduated payment mortgage is a loan where the payment increases each year for a predetermined amount of time (such as 5 or 10 years), then becomes fixed for the remaining duration of the loan. When interest rates are high, borrowers can use a…
