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FHA( Federal Housing Admin)
is a government insured loan.
VA(Veteran Affairs)
is a loan only for current
and
honorably disharged veterans.
Conventional Loans(Conforming)
Fannie Mae and Freddie Mac
Loan
Types
loan types
Private Money/ Investor Loans
Non- conforming loans on a case by case bases. Investors normally want a min of 40- 60% in equity and proof of ability to repay. On average, terms are anywhere from 12- 36 months and maybe interest only.
Reverse Mortgages
A loan that is for individuals that are 62 or older that does not require any payments and is based on the equity in the home.
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