Posts Tagged: loan types

What are Veterans Administration a.k.a. VA Loans

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VA loans have been offered since World War II for returning military and their family. Now, more than 70 years later, 22 million VA loans have been approved. This is one of the ways we show our gratitude to returning warriors and National Home Finance is proud to participate. The terms for VA loans are […]

How Do I Refinance My Home

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Refinancing a home is an important tool to consider for many homeowners. To refinance a home simply means that you renegotiate your present loan in exchange for a new loan. While risks do exist, if one refinances for the right reasons, it is often wise and saves them money. Pay off debts One type of […]

What is a Conventional Loan

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Whether you are recently married and buying your first home, or nearing the end of your career and purchasing a retirement property, National Home Finance can help. Loans come in as many varieties as homeowners do. There are a lot of things to consider in order to know just which of these will fit you […]

HUD Loans

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HUD Section 203(k) Loans to Purchase and Rehab Homes The United States Department of Housing and Urban Development (HUD) has a home loan program that allows you to finance a home that needs repairs, fix it up, and only have one loan to deal with. In most cases with the traditional loan process, you would […]

Get a Home Loan with Low or No Money Down

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How to get a Home Loan with little to no money down If a down payment is keeping you back from home-ownership, you should know there are a few ways to solve this problem and still accomplish your dreams. Various home loan programs for first-time buyers and any qualified buyer offer low or no money […]

What are USDA Loans

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USDA Loans The United States Department of Agriculture (USDA loans) offers rural development loan assistance, primarily for those with low income. These loans can offer 100% financing with no down payment. USDA offers both direct and guaranteed loans, as well as grant programs. Loans can be made directly or through USDA-approved lenders. You can use […]

What is a Federal Housing Administration (FHA) Loan

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Federal Housing Administration (FHA) Loans Federal Housing Administration (FHA) loans are “guaranteed” by the government, which means the lender has less risk when giving you the loan. For this reason, you can get an FHA loan with a lower down payment than with a conventional loan. The minimum down payment for a FHA loan is […]

What is an Adjustable Rate Mortgage or ARM Loan

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What is an Adjustable Rate Mortgage or ARM? Adjustable rate mortgages (ARM) are the opposite of fixed rate – with an ARM, the rate fluctuates or “adjusts” after an agreed-upon period of time. This adjustment is made according to a rate index, and the index used varies by lender. ARMs are desirable for people who […]

What Are Fixed Rate Loans

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Fixed Rate Loans A fixed rate loan is one in which the rate is “fixed” for the life of the loan. It never goes up or down; it is locked in. It can be a conventional, FHA or VA loan. It can be for 15-, 30-, or 40-year terms. But whatever type it is, the […]

What is a Jumbo Loan

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What is a Jumbo Loan? A jumbo loan is a conventional loan for an amount greater than the “conforming loan limit.” Jumbo loans cannot be purchased, securitized, or guaranteed by Fannie Mae or Freddie Mac, which means they are perceived to have more risk for the lender. What is a “Conforming Loan Limit” on a […]