First-time home buyers and repeat home buyers are often faced with determining which loan product they want to use. You have a certain amount of money you can use for a down payment, so should you go FHA or Conventional? Fannie Mae re-launched its Conventional 97% LTV conventional loan program in December 2014. Now the […]
Federal Housing Administration (FHA) loans can be confusing because the FHA does not make loans. It insures the loans made by lenders it has approved. So, if a lender defaults, the FHA covers the losses – not the lender.
One of the great benefits of an FHA insured loan is that it only requires a 3.5% down payment, making homeownership much more feasible for those potential buyers purchasing Fairfax VA Real Estate, who do not have the traditional 10%-20% down that conventional mortgages require.