If you’re thinking about buying a home, you’ll quickly find that there are several ways for you to finance your purchase. While weighing your options, you’ll need to consider whether you’ll take out a government-backed loan - like those offered by the Federal Housing Administration (FHA) and Veteran’s Affairs (VA) - or if you’ll stick with a conventional loan.
Finding the right property is only half the battle when you're buying a home. Unless you can pay cash for your home purchase, you also have to choose the right home loan product.
Learn the ins and outs of conventional home loans, and how they differ from government-backed mortgages.
If you're in the market for a new home, you're probably also in need of a mortgage. There are so many types of home loans, it can be hard to know where to start. Fixed-rate or variable rate? Conventional or not? What on earth is a jumbo loan?
FHA loans are a great option for both first-time and repeat homebuyers, but they do come with some restraints. FHA loan limits are important to be aware of, as they can limit your purchase power.
Federal Housing Administration (FHA) loans have been helping people purchase homes since 1934. These loans are designed to help first-time homebuyers and those with less-than-ideal finances purchase their primary residence. In addition to having relaxed eligibility requirements, FHA loans also offer competitive rates and low minimum down payments.
As a first-time homebuyer, the process of buying a home can be thrilling — but also confusing and difficult at points. Luckily, specific mortgage products, such as the FHA loan, are designed with first-time homebuyers in mind.
Have you recently asked yourself, “Am I ready to buy a house?” If so, you certainly aren’t alone. Learn the 8 steps to decide if you're ready to be a homeowner
