Frequently Asked Questions
We believe that knowledge is power and we continue to learn each and every day on how to make this transaction a painless one. With that said, these are some of the questions that our agents get asked on a daily basis. The only dumb question is the one that you don’t ask!
What are the different loan types available?Mark Ramirez2022-01-24T23:48:51+00:00
The industry wide loan types that are available are the following:
- Conventional – most popular and typically follow FannieMae and FreddieMac guidance
- FHA – insured programs for low down payment or first time homebuyers
- VA – loans for a proud service men and women
- Jumbo – higher loan amounts
- Non-QM – non-traditional documentation, income streams, and/or financial situations
There are others that are available but the above ones are the ones we offer. Some others you may hear about are:
- Non-Conforming – this is the same as Jumbo
- USDA – this is for rural properties and we don’t current offer them
- Subprime – these have been long gone
- Reverse – these are great programs for certain types of people, we do not currently offer them
