A Conventional Mortgage is a home loan that isn't guaranteed or insured by the federal government and conforms to the loan limits set forth by Freddie Mac and Fannie Mae. You can get a conventional loan at a fixed or adjustable rate. Three other options — FHA, VA and USDA loans — are backed by the federal government. Click the photo below for more info:
A FHA Loan is a mortgage insured by the Federal Housing Administration. Borrowers with FHA loans pay for mortgage insurance, which protects the lender from a loss if the borrower defaults on the loan. Click the photo below for more info:
A FHA 203(k) Loan is a type of federally insured mortgage product for individuals who want to rehabilitate or repair a damaged home that will become their primary residence. Click the photo below for more info:
A Bridge Loan is a sum of money lent by a bank to cover an interval between two transactions, typically the buying of one house and the selling of another. Click the photo below for more info:
A USDA Home Loan is a zero down payment mortgage for eligible rural and suburban homebuyers. USDA loansare issued through the USDA loan program, also known as the USDA Rural Development Guaranteed HousingLoan Program, by the United States Department of Agriculture.