These Are The Two Most Popular Loan Programs…

 The two most popular loan programs are FHA and Conventional, and for very good reasons.

Both of these loan programs are excellent loan options when financing your new primary home purchase. 

One commonality these loan programs have is they have a 30 Year Fixed-rate mortgage, and they have a 15 year fixed rate mortgage and all of the other typical loan terms. 

Here are a couple of the significant differences: 

The FHA requires a 3.5% down payment.

The Conventional loan requires a minimum 3% down payment. Keep in mind you must meet lender guidelines. 

You can get an FHA Mortgage with credit scores under a 600. 

On a conventional loan you need at least a 620 credit score.

FHA allows you to have a higher debt to income ratio in comparison to a conventional loan. 

If you have any specific questions on either an FHA Loan or a conventional loan, message me down below.

I’m delighted to share with you which would be best for you as well as what other differences each loan program has and how you can use it to your advantage when financing your new home.

My name is Edgar DeJesus. I’m the mortgage advisor and branch manager of Treasure Coast Home Loans. 

Today’s market requires you to have a skilled negotiator and consultant, like me, helping you and the people you care about right now.

Call or text, (772) 444-6362, with any questions that will let me separate opinion from opportunity. 

Thank you for taking the time to read my latest real estate and mortgage report.

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