How Do You Choose a Loan Program?
There is no straight forward and simple answer to this question. How you choose a loan program is dependent on several factors. Here are a few questions that will help illustrate what information is needed in order to identify the right program for your specific home financing needs:
- How long do you want to stay in your home?
- How much do you have for a down payment?
- Are you a military veteran?
- Do you live in an eligible USDA area?
- How is your credit score?
- What is the purchase price of the home you want to buy?
- Would you prefer fixed payments?
- Would you be amenable to fluctuating payments?
- How long have you been with your employer?
- Do you have a stable credit history?
- Do you plan to live in the home?
- Do you plan to buy-to-rent?
Choose a Loan Program
The best option when choosing a loan program is to sit down with a licensed mortgage loan officer and discuss your specific situation. Major loan programs available at Inlanta Mortgage include VA, USDA, FHA, Conventional and 203k Rehabilitation Loans. The loan program you qualify for will be dependent upon how you answer many of those questions above.
Here are some links to general information regarding these major loan programs.
Michele Fritz 