Osborne Realty

Great Mortgage Options to Consider

by Judy Osborne 10/13/2019

When it comes to financing your home, you have a several mortgage options available. Each type of mortgage offers different advantages, so be sure to do research before applying. Below are some of the most popular types of mortgages borrowers may consider. 

Conventional Loans

A conventional loan is a mortgage not insured by the federal government. In most cases, conventional loans will conform to the standards established by Fannie Mae and Freddie Mac. However, some lenders may offer loans that do not adhere to these standards, which are known as non-conforming loans. In most cases, conventional loans will require a down payment of 20 percent. Otherwise, you will have to pay mortgage insurance. 

FHA Mortgages

FHA mortgages are a popular type of government-backed loan that is designed to give people with lower credit scores and/or lower buying power the ability to purchase a home. If you opt for an FHA mortgage, you may not need to make as large of a down payment, but you will need to pay mortgage insurance. Backed by the Federal Housing Administration, these loans are popular among first-time homebuyers. 

VA Mortgages

VA mortgages are home loans backed by the U.S. Department of Veterans Affairs. These loans are available to current members of the military as well as veterans. If you qualify, VA mortgages are very beneficial, as they offer a lower interest rate and may not require a down payment. VA mortgages don’t require you to pay any mortgage insurance, either. 

Jumbo Mortgages

A jumbo mortgage is a loan that has limits higher than most other mortgages, which allows you to buy a more expensive property. These loans are most popular in areas where home prices are higher. Interest rates on jumbo mortgages are usually comparable to the rates paid on a conventional loan. However, the qualification requirements are much more strict. In most cases, you will need to show proof of significant assets, as well as a high credit score. Some lenders may offer other options, but the mortgages above are the most common. 

Keep in mind that even after you have chosen the type of mortgage you want, you will still have other decisions to make with regard to the type of rate and the length of the term. To make the best decision for your needs, consider working one-on-one with an experienced mortgage agent who can review your situation and help you choose the loan that makes the most sense.

About the Author
Author

Judy Osborne

Thank you, for taking your time to visit our website for buying or selling your home investment in the Pineville, Ballantyne,  Fort Mill and Charlotte and surrounding area. Osborne Realty will work with experienced home buyers, and experienced sellers or first time home buyers, and first time home sellers, builders, and investors.  It may be an excellent time for you to buy or sell a home.  Home ownership is the most significant investment most people make and the only investment that you or someone else lives in! Whether you are planning to stay here for a few years or the rest of your life, you will enjoy the stay. The good news is that most Charlotteans are not from here either. Like you, people hail from all over for reasons ranging from work to weather. Although some will tell you, the southern hospitality, BBQ, and sweet tea sealed the deal. You'll fall in love with Pineville, Charlotte, Ballantyne and Fort Mill or any area you like!


"All I can strive to be is the absolute best possible version of myself." real estate business is all about listening to you, our client, to find out what you expect either selling or buying a home.   Osborne Realty is dedicated to learning about your hopes and dreams concerning the most significant investment most people make and how best to help you achieve your realistic expectations. When you are buying or selling property in today's real estate market, it's essential to have confidence in your real estate professional. Our commitment as your local REALTOR® is to provide you with the specialized real estate service you deserve. Osborne Realty knows we have accomplished your goals when you refer a  family member or friend to sell or buy with us.  We appreciate your continued relationship and look forward to becoming your Realtor for life that tells others about how we help people every day with the selling and buying of homes.

When you are an informed seller or buyer, you'll make the best decisions for the most important sale or purchase in your lifetime. That's why our goal is to keep you informed on trends in the marketplace using the latest statistics in your local area. With property values continuing to rise, real estate is a sound investment for now and for the future. If you are considering selling or buying a home or would just like to have additional information about real estate in your area, please don't hesitate to call or e-mail us. Thank you for visiting PinevilleHomes.com - please consider it as your online source for local real estate information, and often return for the latest property listing updates.

Pineville, Fort Mill, and Ballantyne or any area you like Realtor!


Judy Osborne

Osborne Realty (704) 763-4486

E-Mail: [email protected]