There are many types of loan products out there for purchasing homes. The most widely loan used to purchase residential real estate in the conventional loan, which is a loan provided by a for-profit lending institution. While this is the most popular loan product on the market, many people have a hard time qualifying for these loans because these banks have more stringent lending criteria than many other organizations that provide loans. Fortunately for them, there are Government sponsored organizations that provide loan which are much easier to qualify for. These loans include FHA's, FNMA loans and Freddie Mac loans. These loans usually have lower credit requirements, lower income requirements and more flexible debt-to-income requirements. This post discusses some of the perks of these loans and how they're making home-ownership easier for the average American. Remember me if you're interested in buying or selling residential, commercial or investment real estate in Charleston, SC!
Mortgage rates are at a new low this week. Rates plummeted following the recession in order to bolster recovery. As the market continues to improve, mortgage rates are remaining lower than expected to further improve the lending industry. If you're looking to buy or sell residential or investment properties in Charleston, South Carolina, remember to call me!