ARM (Adjustable-Rate Mortgage) and Interest Only Loans: These types of loans are when you start off at a low interest rate, with the expectation that it will increase over time. With interest-only, you are paying only the interest, with nothing initially going to reduce the principal loan amount. The principal is generally paid in one [...]
RDA Loan: This program offers a 100 percent loan to value (100% LTV), USDA Rural Development home mortgage that is government guaranteed. Few people are aware this Guarantee program exists. This is not a subsidy loan so there is no recapture! There is no limit on seller paid contributions. The rates are very competitive with [...]
VA Loans: Mortgages for veterans and their families vary in terms depending on the length of service and the type of discharge the veteran received. Veterans Administration (VA) loans are written through conventional banks and mortgage lenders and are insured by the Veterans Administration. There is no down payment required for a VA loan and [...]
Federal Housing Authority Loan: These loans are insured by the government and are beneficial because of their lower down payment requirements (3.5%), and often, lower rates. It offers buyers the chance to get a loan with a higher loan-to-value ratio than a conventional mortgage. These loans very often can be easier to qualify for as [...]