These are the four most common types of financing.
One of the questions we get asked most is: “What type of financing is best for me?” This is a great question because the answer depends on your unique situation. Now, full disclosure, we are not financing experts, but we do know some qualifying questions that let us know if it makes sense for us to go out and look at homes. For the best advice on mortgage types, we’d refer you to our friends at Freedmont Mortgage. What we can share with you are the pre-qualification requirements and benefits of some of the most common types of financing used today.
You can watch the full message above or navigate to topics that catch your interest using the timestamps provided below for your convenience:
0:48 — What we’re going over and down payments
1:30 — Conventional loans
2:15 — Private mortgage insurance (PMI)
2:42 — Federal Housing Administration (FHA) loans
4:02 — USDA loan
4:42 — VA loan
6:03 — Wrapping up
If you have any more questions about the types of financing we discussed here or others we didn’t talk about, feel free to reach out to us. We’re also available to answer any other real estate questions you might have. You can talk to us directly by calling or texting (223) 230-1444. We look forward to hearing from you.