Category Archives: Loans and Programs

FHA Loans

FHA loans are backed by the Federal Housing Administration and are designed for low-to-moderate-income borrowers. They require a lower minimum credit score compared to conventional loans and allow down payments as low as 3.5%. Rates for FHA loans are generally low to help promote homeownership. These loans are ideal for first-time homebuyers or those with […]

Jumbo Loans

Jumbo loans exceed the conforming loan limits set by the Federal Housing Finance Agency, which means they are for high-value properties. Because of the larger loan amounts, jumbo loans often have stricter credit requirements and may require larger down payments. Rates are typically higher than conventional loans due to the increased risk to lenders. Jumbo […]

Home Possible and Home Ready Loans

Home Possible and Home Ready loans are designed for low to moderate-income borrowers with limited down payments. Offered by Freddie Mac and Fannie Mae, respectively, they allow down payments as low as 3%. Rates are competitive and these programs offer flexibility on funding sources for down payments. These loan types are ideal for first-time homebuyers […]

Conventional Loans

Conventional loans are not insured by any government agency. They often require a higher credit score and offer more flexible terms and lower interest rates. Rates for conventional loans are influenced by the borrower’s credit score, down payment size, loan term, and current market conditions. These loans are best suited for borrowers with strong credit […]