What is a RD/USDA mortgage product?
An RD/USDA mortgage product, or a USDA Rural Development loan, is a home loan offered by the United States Department of Agriculture (USDA) to promote homeownership in eligible rural and suburban areas. These loans are designed to help low to...
Continue ReadingWhat is a VA mortgage product?
A VA mortgage product is a home loan guaranteed by the U.S. Department of Veterans Affairs (VA) and available to eligible veterans, active-duty service members, National Guard members, Reservists, and certain surviving spouses. VA loans are designed to...
Continue ReadingWhat is a FHA mortgage product?
An FHA mortgage product is a type of home loan insured by the Federal Housing Administration (FHA), a government agency within the U.S. Department of Housing and Urban Development (HUD). FHA loans are designed to make homeownership more accessible to...
Continue ReadingWhat is a Conventional Mortgage Product?
A conventional mortgage is a home loan not insured or guaranteed by the federal government. Unlike government-backed loans such as FHA, VA, or RD/USDA loans, conventional mortgages are funded and serviced by private lenders, banks, credit unions, or...
Continue ReadingWhat is a Super Conforming Mortgage product?
A Super Conforming mortgage is a mortgage loan that falls between the conforming loan limits set by the Federal Housing Finance Agency (FHFA) and the jumbo loan limits. In the United States, conforming loan limits are the maximum loan amounts that...
Continue ReadingWhat is a Construction Mortgage product?
A construction mortgage, also known as a construction-to-permanent loan, is designed to finance the construction of a new home or major renovations to an existing property. This type of loan differs from a traditional mortgage because it funds the...
Continue ReadingWhat is a HomeReady® (Fannie Mae) Mortgage product?
A HomeReady® mortgage is a type of home loan product offered by Fannie Mae, one of the government-sponsored enterprises (GSEs) in the United States. The HomeReady® program is designed to make homeownership more accessible and affordable for low to...
Continue ReadingWhat is a Home Possible® (Freddie Mac) Mortgage product?
A Home Possible® mortgage is a type of home loan product offered by Freddie Mac, one of the government-sponsored enterprises (GSEs) in the United States. The Home Possible® program is designed to make homeownership more accessible and affordable for...
Continue ReadingWhat is the difference between Fannie Mae and Freddie Mac?
Fannie Mae and Freddie Mac are both government-sponsored enterprises (GSEs) created to provide stability and liquidity to the mortgage market, but they have some key differences: Creation and Purpose: Fannie Mae (Federal National Mortgage...
Continue ReadingWhat is a Fannie Mae Fixed-Rate Mortgage product?
A Fannie Mae Fixed Rate Mortgage product refers to a type of mortgage loan that is originated, funded, and serviced by a lender but is ultimately sold to Fannie Mae, a government-sponsored enterprise (GSE) established to provide stability and liquidity...
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