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A Conventional Mortgage refers to any mortgage loan that is not insured or guaranteed by the Federal Government. They can be conforming and non-conforming loans. Conforming loans have terms and conditions that follow guidelines set by Fannie Mae and Freddie Mac. Conventional loans are flexible in that they work for first time homeowners to the seasoned investors

Conventional

Loan

A VA Loan (Veterans Administration) offers qualified Veterans a federally guaranteed home loan which can require little to no down payment and the following applies:

  • 100% financing with no down payment required (providing the loan amount is under the county limit)Served in the US Army, Air Force, Coast Guard, Marines, Navy or National Guard.

VA Loan

A FHA Home Loan is a mortgage loan that is insured by the Federal Housing Administration (FHA) against default. It was created after a surge of foreclosures and defaults in the 1930's to help stimulate the economy while providing Mortgage Lenders adequate insurance.

  • 3.5% down payment

  • Minimum 600 FICO required

  • Requires upfront and monthly mortgage insurance

FHA Loan

A construction loan is usually a short-term loan that provides funds to cover the cost of building or rehabilitating a home. In general, construction loans have higher interest rates than longer-term mortgage loans used to purchase homes. The money borrowed through a construction loan is typically provided in a series of advances as the construction progresses. Payments sometimes start on a construction loan six to 24 months after the loan is made.

Construction Loan