A conventional loan is also sometimes referred to as non-Government Sponsored Enterprise (GSE) loans or conventional mortgage.
Refinancing your home means obtaining a new mortgage to replace your current mortgage loan. It is common for homeowners to refinance their mortgage to take advantage of lower mortgage payments and interest rates.
A 15-year fixed-rate mortgage is a mortgage loan that offers a comprehensive, structured plan for financing a home.
Traditionally, the 30-year fixed mortgage is possibly the most popular mortgage loan on the market. It is characterized by an interest rate and monthly payment that remains the same over the life of the loan.
Homeownership is acclaimed as the “American Dream” and is one of the biggest investments you will ever make.
Federal Housing Administration (FHA) loans are mortgages insured by the Federal Housing Administration (FHA) and are issued by private lenders approved by the FHA.
A VA Home Loan is a mortgage loan that was established in 1944 by the United States Department of Veterans Affairs and is gaining popularity in recent years.
It is a loan that is used to finance properties that exceed the conforming limits set by the Federal Housing Finance Agency (FHFA) and is not guaranteed Fannie and Freddie.
A Non-QM or Non-Qualified Mortgage is a loan that does not meet the Consumer Financial Protection Bureau’s present rules on Qualified Mortgages.
A custom loan also referred to as a unique home loan, is a loan that a mortgage lender creates specifically for a borrower. This may seem a bit broad but it can be a loan that doesn’t necessarily fit into any specific category.