There are a number of different types of home loans available to you, and it can pay to familiarize yourself with them. Luckily we're here to help you choose the best type of home loan for your needs.
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The most common type of loan option, the traditional fixed-rate mortgage includes monthly principal and interest payments which never change during the loan's lifetime.
Adjustable-rate mortgages include interest payments which shift during the loan's term, depending on current market conditions. Typically, these loans carry a fixed-i...
Interest only mortgages are home loans in which borrowers make monthly payments solely toward the interest accruing on the loan, rather than the principle, for a specif...
A conventional loan is a type of loan that is not insured by the government. Conventional loans offer more flexibility and fewer restrictions for borrowers, especially those borrowers with good credit and steady income.
FHA home loans are mortgages which are insured by the Federal Housing Administration (FHA), allowing borrowers to get low mortgage rates with a minimal down payment.
VA loans are mortgages guaranteed by the Department of Veteran Affairs. These loans offer military veterans exceptional benefits, including low interest rates and no ...
A jumbo loan is a mortgage used to finance properties that are too expensive for a conventional conforming loan. The maximum amount for a conforming loan is $766,550 in...
DSCR loan is designed for investors who may not have traditional income sources but still want to secure financing for property purchases. The beauty of DSCR loans lies in their unique qualification criteria. Rather than focusing on an applicant’s personal income, lenders evaluate the potential income generated by the property itself.
Bank statement loans provide an innovative way to simplify the path to homeownership for individuals with unique financial situations. Instead of relying solely on tax returns or W-2s, lenders assess an applicant's financial health through their bank statements.
Understanding the basics of foreign national loans is essential. These loans are specifically designed for non-U.S. citizens who wish to purchase property in the U.S
Understanding reverse mortgages is essential for homeowners who are navigating their financial landscape in retirement or simply looking to free up some cash flow. Many people have misconceptions about what a reverse mortgage is and how it works. Let's break it down into easy-to-understand pieces so that you can see how letting your home work for you can truly change your financial picture