Choosing the right program for a buyer depends on current market conditions, programs offered at that time, the goal of the buyers, risk tolerance, qualifying. Etc. Each buyer is unique, which is why it is important a loan officer should really understand the goals of the buyers to help guide them to the best option for thier circumstance. Choosing the right program for a buyer depends on current market conditions, programs offered at that time, the goal of the buyers, risk tolerance, qualifying. Etc. Each buyer is unique, which is why it is important a loan officer should really understand the goals of the buyers to help guide them to the best option for thier circumstance. Whether a buyer chooses a fixed rate, buydown, or adjustable rate mortgage, these are offered through different sources of financing. There is conventional, FHA, VA, USDA, and jumbo financing. Your experienced and knowledgeable loan officer should be able to assist the buyer to determine the best option for them.
TYPES OF MORTGAGE INSURANCE
There are two types of mortgage loans when it comes to insurance: conventional loans and government-insured loans. The difference between the two types is incredibly simple: government-insured loans come with insurance backed in some way by the federal government, and conventional loans are not insured or guaranteed in any way by the government. Some typical government-insured loan types are the Federal Housing Administration (FHA) program, and the United States Department of Agriculture (USDA) program. VA loans do not have mortgage insurance. Government-insured loans will always
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