3 Mortgage Loans Every Homebuyer Should Consider

If you're in the market to buy a home, you'll need to know about the different types of mortgage loans available to you. In this video, we'll take you through the top three mortgage loans that every homebuyer should consider.
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The 3 most common types of mortgage loans are:
1. Conventional Loans: These are traditional loans that are not guaranteed or insured by the government. They are usually offered by banks, credit unions, and other lenders. Conventional loans typically require a higher credit score and a down payment of at least 3%, but they generally have lower interest rates than government-backed loans.
2. FHA Loans: These loans are guaranteed by the Federal Housing Administration (FHA), which is a part of the U.S. Department of Housing and Urban Development (HUD). FHA loans are designed to help first-time homebuyers and people with lower credit scores or limited down payment funds. They require a down payment of at least 3.5% and have more lenient credit score requirements than conventional loans, but they also have higher mortgage insurance premiums.
3. VA Loans: These loans are guaranteed by the U.S. Department of Veterans Affairs (VA) and are available to eligible veterans, service members, and surviving spouses. VA loans often require no down payment and have lower interest rates than conventional loans, but they may have additional fees and requirements.
#mortgageloans #homebuyer #buyingahome
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That's real estate for 'ya!