Conventional Home Loans Starting to Compete More with FHA Loans
FHA loans have gained a substantial share of the home purchase and refinance mortgage market because of flexible qualifying guidelines and low down payment options.
Conventional home loans have been following more conservative underwriting guidelines, but there appears to be some changes in the works. For example, home loans up to 95% may be available in some areas to purchase a home, because mortgage insurance companies are now willing to insure some high loan to value mortgages.
Mortgage rates and qualifications are expected to be higher as well, but this news could provide more borrower options in addition to FHA loans, which offer minimum down payments of 3.5%.
Home Loans
Conventional home loans have been following more conservative underwriting guidelines, but there appears to be some changes in the works. For example, home loans up to 95% may be available in some areas to purchase a home, because mortgage insurance companies are now willing to insure some high loan to value mortgages.
Mortgage rates and qualifications are expected to be higher as well, but this news could provide more borrower options in addition to FHA loans, which offer minimum down payments of 3.5%.
Home Loans
posted by CRHOME.com at
10:11 AM
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