Tag: mortgage loans

Blog | jnadealerprogram.com

This year, both on FHA loans and on conforming ones, loan limits or how much you can potentially borrow from a lender are increasing. According to the Department of Housing and Urban Development and the Federal Housing Finance Agency this will take effect starting January 1, 2021. In the coming year, do you intend to refinance your current mortgage or purchase a new home? And, on your radar, you’ll want these new restrictions. For each form of a loan, here is what you need to know. Federal Housing Administration (FHA) Loans In the more expensive [more]


Blog | jnadealerprogram.com

A mortgage issued by a private lender without going through a government program is a conventional loan. When somebody says a mortgage is a conventional loan, they separate it from FHA loans, VA loans, or USDA loans. Although this is an industry term, on their websites, lenders who sell conventional loans don’t necessarily mark their mortgages this way. They may simply refer to conventional loans as mortgages or label them fixed-rate or adjustable-rate mortgages, more descriptively. What are the different forms of conventional loans? Conventional mortgage loans may either be conforming or non-conforming. Here’s a [more]