What Home Loan Is Right for Me?

In this blog we’re going to answer the question: What home loan is right for me?

With all the new technology we have and the massive changes in the way we communicate these days such as the internet, TV and Radio looking for a home loan can get really confusing! You’re bombarded with ad after ad making it hard to decide which loan program would be the best for you and your family while searching for a home.  We want to give you a no-nonsense way of decided; What home loan is right for me?  We thought it would be easiest to give you a simple break down of what your loan options are:

The 4 main loan products that are currently available right now and that we offer are:

1. Conventional – requires 20% down payment with No PMI (a monthly mortgage insurance)
2. FHA – requires 3.5% down payment & has PMI for the life of the loan.
3. VA –  100% financed (no down payment) and must be an active-duty military serviceman or woman/veteran/qualifying spouse of a deceased veteran.
4. USDA – 100% financed (no down payment) and must meet income restrictions and location eligibility requirements.

All four of these programs are very different and it really depends on your particular situation.  That’s why we dig deep during the pre-approval process and find out the following information:

1. Credit score
2. How much down payment, you have if any
3. Have you served in the Military
4. What location you’re buying in.

We love to help people make this kind of decision, because frankly there’s nothing better than making people’s dreams of owning their own home come true.  That’s why we’re in the home loan business, we love helping people.  So if you’re still not sure which home loan is right for you give us a call at (816)268-4025 or start the process of pre-approval online by following this link.