Ask us how you could buy a new home with little or no money down. The same guidelines and rates apply for any regular FHA loan, only less cash is needed from the borrower. Conforming loans are designed for borrowers with a clean credit history and typically carry the lowest interest rates. Jumbo loans also require a clean credit history, but carry slightly higher rates that conforming. These loans present higher risk so interest rates are higher that conforming and jumbo programs.
Qualification is easier than conventional loans.
Loan limits are restricted based on property location, by county. Typically there is NO down payment required. Paying off an existing mortgage at a lower rate usually means lower monthly payments and more money in your pocket. Paying off a loan in a shorter time period saves thousands in interest. Often times, the single best solution for a homeowner is to refinance AND consolidate bills, all in one loan.