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VA Loan Benefits
The U.S. government is grateful for all of the American veterans and military personnel who have served our country and they have created these VA loan programs to help veterans find, and keep, the home of their dreams…while making the purchase as affordable as possible. As a military family and veteran, there are several reasons […]
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Jumbo Loan Requirements
Since the loan amounts are higher than the usual home loan, jumbo loan borrowers can expect stricter application requirements. It is important to note that jumbo loans will most likely require a higher down payment and higher closing costs than a conventional loan, but interest rates are competitive with other conventional loans. There are few […]
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What Is A VA Loan?
A VA home loan is a mortgage available through a program established by the United States Department of Veterans Affairs. VA home loans assist service members, veterans, and eligible surviving spouses to become homeowners. The Veterans Affairs (VA) sets the qualifying standards, dictates the terms of the mortgages offered and guarantees a portion of the […]
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What is a Jumbo Mortgage Loan?
If you are dreaming about buying a luxury home in Florida you will need to apply for a jumbo loan to make your dream come true. Jumbo loans are designed for buying expensive, higher-end luxury homes that exceed the loan limits of a conventional loan. The conforming loan limit is set each year by the […]
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Conventional Loan Program Loan Limits
For a conforming conventional loan, your loan must fall within the loan limits set by Fannie Mae and Freddie Mac. The loan limit changes annually. For 2022, the conforming loan limit for a single-family home is $647,200. There are exceptions, however. Alaska, Hawaii and other high-cost areas of the country have higher loan limits, ranging […]
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Conventional Mortgage Loan Requirements
You may qualify for a conventional home loan in Florida if you meet the following requirements: Relatively good credit score (640 or above), however lower credit scores may be considered based on other factors; You are able to make a down payment of at least 3% of the loan amount; You are able to show […]
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Conventional Home Loan Benefits
Conventional home loans allow for more flexible payment options. With a conventional mortgage loan you get the best possible interest rates, helping to keep your monthly payments as low as possible. Conventional loans can be approved for a variety of different property types. Unlike government backed loans such as FHA and USDA mortgages, conventional mortgages […]
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What is a Conventional Home Loan?
A conventional home loan is a mortgage that is not guaranteed by the U.S. Government. A conventional home loan usually follows the guidelines of Fannie Mae and Freddie Mac. Conventional mortgage loans may be conforming or non-conforming. Non-conforming loans don’t meet the guidelines of Fannie Mae or Freddie Mac but are still considered conventional mortgages. […]