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The Pros and Cons of Adjustable Rate Mortgages  calculating ARM risk vs reward

During the home buying process, you’re likely to be introduced to a wide variety of mortgage types. While it might seem logical to select a mortgage based upon what your friends or family have chosen, it’s more important to weigh whether or not a mortgage plan fits you and your individual lifestyle.


What is a Conventional Loan?  What is a Conventional Loan?

A conventional loan is a type of mortgage that is not part of a specific government program, such as Federal Housing Administration (FHA), Department of Agriculture (USDA) or the Department of Veterans’ Affairs (VA) loan programs. However, conventional loans are commonly interchangeable with “conforming loans”, since they are required to conform to Fannie Mae and Freddie Mac’s underwriting requirements and loan limits.


Conforming vs. Non-conforming Loans: Which Is Best for You?  Conforming vs. Non-conforming Loans: Which Is Best for You?

Conventional. Conforming. Non-conforming. Do you know the difference?
When you’re evaluating home loan categories, it’s easy to get confused by the terms “conventional” and “conforming.” As similar as these two terms may sound, their definitions are worlds apart, so it’s important to understand the distinctions. We’re here to clear the air.


Mortgage Loans for the Self-Employed  Mortgage Loans for the Self-Employed

Getting a mortgage might be harder for self-employed people, but borrowers around the country do it every day. The self-employed borrower needs not only to provide tax returns but to confirm them with Form 4506-T. This makes the process of qualifying for a mortgage loan run up against the usual strategy of minimizing income for tax purposes. With planning, though, you can live the American dream of owning a house and being your own boss.