They are insured by the Federal Housing Administration and offer low downpayments and higher qualifying ratios. A no downpayment loan is available to eligible veterans. VA loans are insured by the Veteran's Administration. Subject to borrowers meeting income limits and completion of a training course on homeownership. A Mortgage Broker represents a borrower by purchasing loans and highlighting strengths and minimizing weaknesses.
Mortgage Brokers have a vast variety of programs to choose from.
A bank has only a few. Tips for Buying, Refinancing, or Equity Loans. For most people, their home is the biggest investment they will ever make. However, few people do the research necessary to make a good buying decision. The home-purchase process is extremely confusing for most people.