Which loan program is right for you?
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FHA (Federal Housing Administration) mortgage loans are government-backed loans designed to make homeownership more accessible, especially for first-time buyers or those with lower credit scores.
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A conventional mortgage loan is a home loan that is not insured or guaranteed by a government agency like the FHA or VA. Instead, it is backed by private lenders and typically adheres to the standards set by Fannie Mae and Freddie Mac.
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A VA home loan is a mortgage program backed by the U.S. Department of Veterans Affairs (VA), designed to help eligible veterans, active-duty service members, and some military families purchase homes.
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A USDA mortgage loan is a home loan program backed by the U.S. Department of Agriculture (USDA), designed to help low- to moderate-income buyers purchase homes in rural and suburban areas.
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A jumbo mortgage loan is a type of home loan that exceeds the conforming loan limits set by Fannie Mae and Freddie Mac, which vary by location. Jumbo loans are suited for buyers seeking to purchase high-value properties and who can meet the stringent financial criteria.
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A non-QM (non-qualified mortgage) loan is a type of home loan that does not meet the strict guidelines of a qualified mortgage (QM), as defined by the Consumer Financial Protection Bureau (CFPB). Non-QM loans are ideal for borrowers who don’t fit conventional lending molds but have the means to repay the loan.