April 2014

28 Apr 2014

An unconventional approach to home mortgage

While buyers are active once again in the marketplace, many are not carrying a large purse or wallet. Most buyers who are shopping for a home today are looking to get in without a large down payment. Traditionally, these buyers would consider a government loan, either FHA, USDA or VA financing. While these are great options for some buyers, these types of loans have income limits or property requirements, or are only available to those who have served or are currently serving in the Armed Forces (VA). A more unconventional option for today’s buyer is conventional financing. This type of financing is available through FNMA and Freddie Mac and allows loans up to $417,000 in loan amount. While this was once a...
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