There are basically two main routes that are commonly used these days when looking for financing for home purchases: FHA and Conventional. Here is a brief primer of how both work. FHA Financing FHA is getting more popular these days as credit guidelines become more stringent and cash-strapped borrowers look for lower down payments. Compared … Continue reading Deciding Between FHA & Conventional Financing
Conventional Mortgage Loan Basics
What is a Conventional Mortgage Loan? A conventional mortgage refers to a loan that is not insured or guaranteed by the federal government. In contrast, an FHA mortgage loan is insured by the Federal Housing Authority and VA mortgage loans are backed by the Department of Veterans Affairs. Conventional loans can be either fixed or an … Continue reading Conventional Mortgage Loan Basics
Steve Kern 