Down Payments
What is the down payment % for a conventional loan?
5%
What does PMI stand for?
Private Mortgage Insurance
What loan is for a buyer with good credit and steady income?
Conventional
What is the down payment % for a FHA loan?
3.5%
What does ARM stand for?
Adjustable Rate Mortgage
What loan is for a buyer that are eligible veterans?
VA
What is the down payment % for a VA loan?
0%
What does FHA stand for?
Federal Housing Administration
What loan is for a buyer who is a first time buyer or those with low credit scores?
FHA
What is the down payment % for a USDA loan?
0%
What does VA stand for?
Veterans Affairs
What loan is for a buyer living in rural or suburban areas with moderate income?
USDA
What is the down payment % for a ARM loan?
Follows the type of loan it is tied to
What does WHEDA stand for?
Wisconsin Housing & Economic Development Authority
What loan is for a buyer who is a first time buyer or those who haven't owned a home in the last 3 years?
WHEDA