The US Government does not lend money to the borrower. Instead, it promises to repay some or all the money to the lender in the event that the borrower defaults. This reduces the risk for the lender when making a loan. FHA “insures” the loan while VA “guarantees” the loans.
FHA Loans are great for buyers with lower down payments and sometimes easier to qualify for than a conventional loan.
VA loans provide exclusive benefits for those who have served our country. You’ve served for us. Let us help you.
USDA loans are designed to help middle income folks buy homes in rural and suburban communities.
A reverse mortgage is a home loan that you do not have to pay back for as long as you live in your home.
The government-sponsored entities that drive the home loan market are known as Fannie Mae (FNMA) and Freddie Mac (FHLMC)
Jumbo loan requirements can vary widely from lender to lender. They carry a greater risk to the Lenders who make them.
Conventional mortgage loans must adhere to guidelines set by the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) and are available to everyone, but they are more difficult to qualify for than VA and FHA loans.