Conventional Mortgages are often considered the go-to standard of mortgage loans. They have competitive interest rates, are very wide-ranging in options, and can fit most circumstances. You could think of them as the O+ blood type of mortgage loans. While these mortgage loans are not considered ‘government loans’ like an FHA or VA mortgage (loans […]

Definition of an FHA Mortgage An FHA mortgage is a mortgage that is secured by the federal government, specifically the Federal Housing Administration. Basically, this means that if a borrower quits paying and loses their home in a foreclosure, the government will make sure the lender doesn’t suffer any losses. You don’t actually get your […]

VA Mortgages Defined A VA mortgage is a mortgage available to service members, veterans, and eligible surviving spouses. It is a benefit provided by the Department of Veterans Affairs (VA) and is guaranteed by the federal government. Benefits of a VA Mortgage VA mortgages are of great benefit to eligible service members, veterans, and surviving […]

While not technically a mortgage product on its own, Adjustable Rate Mortgages are so popular that they are often thought of as one. Any mortgage can be an Adjustable Rate Mortgage simply by having an interest rate that, well, adjusts. Types of Adjustable Rate Mortgages There are a number of mortgages that offer adjustable rates, […]

Definition of a Jumbo Mortgage Jumbo mortgages are defined by a loan amount that exceeds the maximum amount that Fannie Mae and Freddie Mac will loan, otherwise called the conforming loan limit. Currently, the conforming loan limit is set at $417,000, so if you are looking to obtain a mortgage above that amount, you must […]

If you are unfamiliar with the FHA 203(k) Mortgage, have we got a treat for you! It is a great program offered by the Federal Housing Administration (FHA). With this mortgage product, you can purchase a home AND remodel or rehabilitate it all with one loan. There’s a lot of information to digest with this […]