Which Home Loan Could Be The Best For You?
This is a popular option and typically offers a lower rate.
May require a higher credit score than many other loans.
Best for: Repeat Buyers, Applicants with higher FICO scores.
Exclusively for military veterans and members of the US military.
Best for: Veterans, Active Service Personnel, qualifying Reservists.
Adjustable Rate Mortgage (ARM)
This loan’s rate is typically lower for the first 5 to 10 years before adjusting each year.
Best for: Buyers wwho will refinance or sell their home before their rate adjusts
These are for more expensive properties and provide up to $2.5 million in loan funds.
Best for: Buyers in areas with higher property prices, and those planning to build a custom home
These are partially insured by the Federal Housing Administration (FHA). This means lenders can offer options with easier credit qualifying and lower down payments.
Best for: First time buyers, and those without savings for a big down payment
Similar to FHA loans, these offer easier credit qualifying and down payment options. Only available for properties in areas defined as rural by the USDA.
Best for: Buyers of properties in rural areas
As your local home financing professional, I can answer your questions about the loans described here, plus others also offered by Cardinal. Call today to get started!