Buying This Fall?


Did you know that fall is a great time to buy a home? With more homes on the market, more homebuyers have more opportunities. Whether your first or tenth home, it's always good to know your mortgage options. I thought I would share four types of mortgages to help you start the home buying process.

Conventional Loan

The federal government does not back conventional loans. You'll get conventional loans in two different packages called conforming and non-conforming. You can put down as little as 3% on a conventional loan backed by Freddie Mac or Fannie Mae.

Government Insured Loan

​These loans are backed by the Federal Housing Administration, Department of Veterans Affairs, or Department of Agriculture. If so, you've heard the term FHA loan or VA loan for military; this is where these loans come from. If you can't qualify for a conventional loan, you might try a Government Insured Loan.

Fixed-Rate Mortgage

​A Fixed Rate Mortgage is a loan where your rate won't change during the life of your loan. These loans help you plan and budget easier.

Adjustable-Rate Mortgage

​An Adjustable Rate Mortgage or ARM is a loan where your interest rate fluctuates over the loan's life. The changes are based on the market conditions. A pro of an ARM is that your interest rate could be lower than other loan options.

If you're thinking about buying, understanding your mortgage loan options is very important. I have a network of professionals ready to help. With more homes on the market this fall, it's a great time to get into the home you want. Give me a call to get started.