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FHA loan limits for 2018

FHA Loan Limits Set Higher for 2018

As of January 1st 2018, the Federal Housing Administration (FHA) will be increasing the FHA Loan limit for new cases from its current level of $287,500 to $294,515. This means that an FHA buyer, putting the minimum 3.5% down, can now purchase a house for $305,000. The Home Equity Conversion Mortgages (HECMs) – reverse mortgages […]

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VA Loans

What is a VA Loan?

A VA loan is a mortgage loan that is available to mosts veterans, and is guaranteed by the U.S. Department of Veteran Affairs. Benefits of a VA Loan? Because VA loans are guaranteed by the Department of Veteran Affairs, which reduces the risk to the lender, the lender can usually offer more competitive interest rates, […]

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Young couple meeting loan officer

What is an FHA Loan?

This article was originally published in August of 2016, and was updated in December of 2017. An FHA loan is a mortgage that is insured by the Federal Housing Administration. The FHA actually only insures the loan, the loan itself originates from an FHA approved lenders Because of the built-in mortgage insurance, FHA loans often have […]

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Mortgage: Conventional Loan

What is a Conventional Home Loan?

For the majority of buyers, the choices of how to fund their new home purchase comes down to either a conventional loan or an FHA loan. Military veterans may also eligible for a VA loan, and of course, cash is always welcome. Conventional Loans A Conventional Home Loan (often referred to as a “traditional” loan) is […]

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