USDA loans require rural property locations and income limits that might not fit everyone. If your desired home isn’t in a qualifying area or your income exceeds the threshold, consider other mortgage options. Below is a comparison table to help you explore alternatives for financing your home ...
Conventional vs. USDA loans:USDA loans, guaranteed by the U.S. Department of Agriculture (USDA), are for borrowers with lower to moderate incomes in specific rural-designated areas. They don’t require a down payment, but do charge a guarantee fee and annual fees. ...
We don’t want that for you. That’s why at Ramsey we teach people about the different types of mortgages and their pros and cons so you can make a confident decision when buying a house. What Are the Main Types of Mortgages? Whether you get a mortgage through a broker, bank, ...
This process could be a turnoff for customers who prefer to shop rates and terms before speaking with someone. However, most lenders require borrowers to work with a loan officer at some point. So, based on the positive feedback that appears online, it may be worthwhile to speak with a Ci...