Types of Home Mortgage Loans for Home Buyers and Home Owners

Buying a home is the dream of every individual. To make the dream a reality, the government offers several mortgage loan programs. If you have retired and now planning to buy a home where you can pass the remaining days of your life with your family members, then also the mortgage program programs will be beneficial for you.

There are different types of home mortgage loans and it includes FHA loans, VA loans and many more. For many FHA borrowers, the minimum down payment is 3.5%. And one can qualify for the loans with credit scores of 580 and even lower. The loans are the only option for the borrowers with high debt-to-income ratios as well as lower credit scores.

The VA loan program is applicable for American military families, veterans and many more. No down payment is required for the loan. The borrowers can qualify for 100% financing.

While the mortgage loans help you to buy a home, the reverse mortgage loan allows the homeowners to convert a part of their home equity into cash. The loan amount on a reverse mortgage depends on several factors including the value of the property, interest rates, the age of the homeowner and many more.

If you are looking for a mortgage lender for any of these loans, then choose Vance Long. With their unmatchable services, they will exceed your expectation. To find the right solution for your financial needs, call them at (714) 420-1997 or check them at vancelong.com