Property investors will have to get a old-fashioned home loan because Government backed loans are for home owners whom want to occupy the property as their main residence just.

Property investors will have to get a old-fashioned home loan because Government backed loans are for home owners whom want to occupy the property as their main residence just.

Main-stream 97 Mortgage

A regular 97 loan resembles an everyday main-stream loan. Nonetheless, it entails merely a 3% advance payment, thus the 97, standing for 97% loan-to-value. The 3% advance payment is also less than FHA loans which require 3.5% down. It is possible to confer with your loan provider to see if this program is offered by them.

Non-Conforming Mortgages

A non-conforming loan is a loan that surpasses the conforming loan limitations set by Fannie Mae and Freddie Mac. The conforming loan limitation is $424,100 generally in most aspects of the U.S. And goes as much as $635,050 in some high expense regions of the united states. […]