The Differences Between Conventional, FHA, & VA Loans
No matter whether the buyer is a first-time home purchaser or a veteran of several past transactions, chances are they will need to make a decision about the type of home loan they will use. But not all home mortgages are the same and prospective buyers who take the time to make sure they are choosing the right one for their current situation can save money and enjoy a better overall home buying experience.
Understanding the Conventional Loan
One of the most common types of home loans, the conventional mortgage uses relatively conservative guidelines for applicants. While individual rates for this type of loan can vary, depending on the lender and other factors, applicants will generally…