Types of Home Loans: An Epic List of 29 Mortgage Programs
Types of Home Loans: Government Backed
Government agencies insure (or guarantee) a very large number of mortgages in the United States. Agency mortgage programs have roots in the New Deal or post WWII economic eras, both of which expanded ...
Posted by Tony Mariotti on June 24, 2016 in Financing a Home
Conventional 97 Loan Guide
What is the Conventional 97 Loan Program?
Conventional 97 loans are a type of low down payment mortgage for first time home buyers. Borrowers only need to come up with a 3% down payment, which then creates a mortgage balance of 97% loan to value ...
Posted by Tony Mariotti on June 21, 2016 in Financing a Home
Mortgage Commitment Letter: How to Seal the Deal
What is a Mortgage Commitment Letter?
A mortgage commitment letter sets up a borrower with the highest state of readiness to buy a home. Mortgage commitment letters are only issued if the borrower and property meet underwriting ...
Posted by Tony Mariotti on June 17, 2016 in Financing a Home
Mortgage Gift Letter Guide: Requirements + Free Template
What is a Mortgage Gift Letter?
Saving for a mortgage down payment is a big challenge for many people, especially first time home buyers. That’s nothing new; it’s always been true. Fortunately, many of the most popular mortgage programs ...
Posted by Tony Mariotti on June 12, 2016 in Financing a Home