Different Types Of Home Loans
There’s many different loan options….
Here are some of the common ones π
01 – πͺπππππππππππ π³ππππ: These are standard mortgage loans not insured or guaranteed by the government. They typically require a down payment of 3% to 20% of the home’s purchase price.
02 – ππ―π¨ πππππ: Insured by the Federal Housing Administration, these loans help borrowers with low down payments and lower credit scores.
03 – π½π¨ π³ππππ: Available to eligible veterans and military personnel, VA loans offer favorable terms, including no down payment and flexible qualification criteria.
04 – πΌπΊπ«π¨ π³ππππ: These loans, offered by the U.S. Department of Agriculture, are designed for borrowers in rural areas and offer low or no down payment options.
π Remember that this is just a brief overview, and each type of mortgage loan has its own intricacies and eligibility requirements.
If you are getting ready to speak with a mortgage lender, π¬ comment “QUESTIONS” and I’ll send you my list of important questions to ask ↓
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