If you are thing about buying a home using a mortgage loan, you will discover there are many choices out there! Two of the most popular are Conventional and FHA Loans.
FHA is a government-backed loan. It is great for first-time homebuyers or those with a moderate income level because it requires less down payment, typically about 3.5%. Credit score requirements are more flexible with FHA loans as well.
Conventional loans are ideal for borrowers with higher credit scores and those borrowers who want higher priced homes. Conventional loans typically require a higher down payment of about 5% and have less requirements than a government-backed loan.
I welcome the opportunity to speak to you more in detail about these and other type of loans.