The most common home loan and mortgage questions
Here are some of the most frequently asked questions regarding mortgages. If none of your questions are here, please contact one of our mortgage advisors.
Frequently Asked Questions
What’s the difference between Conventional, VA and FHA mortgages?
Conventional loans are the most common in the mortgage industry. They’re funded by private financial investors and then sold to Government-Sponsored Enterprises (GSE) like Fannie Mae and Freddie Mac.
A VA Loan is a mortgage provided by private investors and partially backed, or guaranteed, by the Department of Veterans Affairs. These offer military veterans flexible $0 down options and some of the most competitive rates and programs.
An FHA loan is a home loan backed by the Federal Housing Administration, a government agency created to help home buyers qualify for a mortgage. The FHA provides mortgage insurance on loans made by FHA-approved lenders, protecting them from the risk of borrower default.