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  • 			    What type of home loan do you need? We're here to find the right fit for your situation.

    What type of home loan do you need? We're here to find the right fit for your situation.

  • 			    The PERFECT Home is waiting for you...Let us find the perfect loan to go with it!

    The PERFECT Home is waiting for you...Let us find the perfect loan to go with it!

  • 			    Refinacing is easy, with our help and experience, we close most loans within 30 days.

    Refinacing is easy, with our help and experience, we close most loans within 30 days.

FHA Loans vs. Conventional Home Loans

The main difference between a FHA Loan and a Conventional Home Loan is that a FHA loan requires a lower down payment, and the credit qualifying criteria for a borrower is not as strict. This allows those without a credit history, or with minor credit problems to buy a home. FHA requires a reasonable explanation of any derogatory items, but will use common sense credit underwriting. Some borrowers, with extenuating circumstances surrounding bankruptcy discharged 3-years ago, can work around past credit problems. However, conventional financing relies heavily upon credit scoring, a rating given by a credit bureau such as Experian, Trans-Union or Equifax. If your score is below the minimum standard, you may not qualify.

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