Mortgage Loans

 The Federal Housing Administration (FHA) was established in 1934 to help increase home sales during the Great Depression. In current times the FHA's role is to financially back home loans to mitigate much of the risk of non-payment and foreclosure to private lenders. It’s important to note that the FHA is NOT a lender, but a government entity created to insure your loan. With an FHA mortgage. 

 A conventional mortgage is a home loan that isn’t backed by a government agency. When most people talk about conventional mortgages, they are referring to conforming mortgages, which are loans that 'conform' to guidelines established by Fannie Mae and Freddie Mac. These two government-sponsored entities (GSEs) purchase loans from lenders and then sell them to investors in what are called 'Mortgage Backed Securities.’ By purchasing these loans, Fannie Mae and Freddie Mac free up the lender's mon

 A VA loan is a residential mortgage loan that’s issued by a private lender and backed by the U.S. Department of Veterans Affairs. Introduced in 1944 as part of the GI Bill, VA loans help U.S. Military veterans, active-duty service members, and surviving military spouses buy a home with a loan that generally requires no down payment. 

Bank Statement Program-No tax returns required.