The best mortgage for you depends on a lot of different factors.

Here is a quick list of different factors and loans that you may want to consider…

Conforming standard loans are for amounts up to $417,000 and eligible for purchase by Fannie Mae and Freddie Mac.

Conforming jumbo loans are for amounts up to $729,750, the maximums varying by county, and eligible for purchase by Fannie Mae and Freddie Mac.

Non-conforming jumbo loans are for amounts that exceed the conforming jumbo county limits, which range up to $729,750.

FHA standard loans are for amounts up to $217,050 and eligible for insurance by FHA.

FHA jumbo loans are for amounts up to $729,750, the maximums varying by county, and eligible for insurance by FHA.

Now, things may have changed quite a bit…

it was not long ago that you could get a 100% ltv loan, or get a loan with bad credit.. meaning even no credit.

you could also get a liars loan… this was really called a no doc loan. Meaning you got the loan based on not having to fill out any financial documentation.

All you essectially had to have was a pulse.

Now, times have changed, and things aren’t like that anymore….

One thing to note, interest rates are looking pretty good.

As of this writing, you can get a 30 year fixed rate loan for 4.5% That is really amazing…

Rates have never been this low.

Talk to your mortgage broker or loan officer to find out what other options may be ther for loans and what you can qualify for.

Share and Enjoy:
  • Print
  • Digg
  • Sphinn
  • del.icio.us
  • Facebook
  • Mixx
  • Google Bookmarks
  • Blogplay

Related posts on loans for people with bad credit:

  1. How Do I Qualify For A Mortgage? Rates are still low, but you’ll have to jump through a few hoops to qualify. Is This a Good Time to Get a Mortgage? Absolutely. In early June, the national average interest rate for a 30-year, fixed-rate conforming loan (under $417,000) was…...
  2. Increase in Mortgage Applications Increase in Mortgage Applications Based on the information from Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey, there was an increase in the mortgage application by 0.2 percent last week. The Market Composite Index, which is a gauge of the number of mortgage…...
  3. Fannie Mae, Freddie Mac, and FHA is Profitable Again Fannie Mae, Freddie Mac, and FHA is Profitable Again These past few years, politicians, economists and Wall Street became concerned for Fannie Mae, Freddie Mac, and the Federal Housing Administration. They were anxious about the agencies’ respective ability to stay solvent.…...
  4. What’s Great About Getting a Bad Credit FHA Home Loan? What’s Great About Getting a Bad Credit FHA Home Loan? The Federal Housing Administration or perhaps referred to as FHA has been extremely beneficial to those who need a guarantor especially for someone whose financial history is not that good –…...
  5. Mortgage Refinance Levels Reach High Levels as Mortgage Interest Rates Remain at Low Levels Mortgage Refinance Levels Reach High Levels as Mortgage Interest Rates Remain at Low Levels According to the latest records from the Mortgage Bankers Association or more famously known as the MBA as of July. 20, 2012, the applications for mortgage loans have…...

Tagged with: • •

Filed under: mortgage • mortgage loans

Like this post? Subscribe to my RSS feed and get loads more!