TYPES OF LOANS
FOR THE MOST PARTYOU DONT HAVE TO CONCERN YOURSELF WITH THE DIFFERENCE BETWEEN THE MAIN KINDS OF LOAN {CONVENTIONAL,FHA,AND VA LOAN]. ITS YOUR LENDERJOB TO TRYTO PICKTHE BEST LOAN FOR YOUR NEEDS.
HERE WE GO ABUT LOANS
FHA THE US GOVVERMENT OFFERS THE FHA LOAN TO MAKE HOME BUYING EASIER.THE GOVERMENT GURANTEES PART OF LOAN IF YOU DEAFAULT .SINCE THE LOAN IS PARTIALLY GURANTEED IT EASIER TO GET.DONT BE EXCITED ABOUT GOVT MAKING PAYMENT FOR YOU .IF YOU FAIL TO MAKE THE MORTGAGE PAYMENTS BANK WILL TAKE HOUSE BACK.THE GOVT PAYS THE BANK AFTER THE BANK HAS ALREADY RESPOSSESED YOUR HOUSE ALL SELLERS WILL NOT AGREE FOR FHA LOANTHE HOUSE HAS TO BE IN EXCELLENT SHAPE TO PASS IN FHA INSEPECTION
VA LOANS
VA LOANS ARE AN OPTION FOR VETERANS .ITS POSSIBLE 0%DOWN ON ONE JUST LIKE THE FHA LOANS .THE VA ITSELF DOESNTLEND MONEYITS JUST GURANTEE PART OF LOAN SO THAT SELLER FEEL COMFORTABLE LENDING MONEYVA LOANS CAN BE ASSUMED BY ANY FUTURE BUYER IF YOU NEED TO SELL THE HOUSE YOU CAN SELL IT TO ANUBODY NOT ONLY VETERIAN SITE FOR VA LOAN WWW.HOMELOANS.VA.GOV/
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