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HOME LOANS- I must emphasize the importance of making lenders your first stop on the journey to homeownership. Engaging with a lender early in the process is crucial; it clarifies your affordability, setting the stage for a seamless home-buying experience. Understanding your budget upfront allows us to expertly match you with the perfect home that meets both your desires and financial comfort zone. Let's embark on this journey together, with the right financial insights leading the way to your dream home.
TOP 3 MOST COMMONLY USED HOME LOANS
Take a look at this quick breakdown of the top three most commonly used home loan types.
CONVENTIONAL:
* 3% TO 20% down
*Credit score as low as 620
*PMI is variable depending on credit on credit score and loan to value
* Higher loan limits determined by the county you live in
15, 20, 30 year fixed options
*Appraisals are less strict than govt loans
*Single family residence, manufactured homes, condos, and townhomes are eligible.
*Primary, secondary, and investment properties qualify
FHA (first time homebuyer):
* 3.5% down
* A 1.75% funding is fee charged, this will be rolled into the loan
* MI is fixed. .55 of the loan amount over 12 months
*Credit as low as 580
*Attractive interest rates
*Debt to income requirements arent as strict compared to a conventional mortgage
* Primary residence only
*Loan limits vary depending on state and county you live in
* Single family residence, manufactured, condos, and townhomes are eligible
VA (veteran):
* 0% down
* Credit score as ow as 580
* NO mortgage insurance
* Higher loan limit
* Fixed rate and adjustable-rate options
* Single family residence, manufactured, condos, townhomes are eligible
* Must be a primary residence
