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rachard1583 · Joined: 18 Oct 2010 Posts: 18 4.15 Dollars($)

There is a first time home buyers loan which is known as a FHA loan. For people who are buying a home for the first time this is the best loan. The down payment is only 3.5%. And a very big plus is that a person can have a credit statement which shows a ratio of very high debt against their income and it will not affect their eligibility. In addition to the low down payment the monthly payments for insurance on these loans are also lower since the FHA will charge a buyer a percentage on a monthly basis.

markomaznik · Joined: 29 Jun 2011 Posts: 6 1.76 Dollars($)

Some mortgage brokers just have better sources than others so which loan is better?

jerry · Posted: Thu Jun 30, 2011 1:27 am Post subject:

Hi markomaznik,

It will depend upon your situation. You should consult a mortgage broker and he will check your financial situation and let you know which type of mortgage will be best suited for you.

Thanks,

Jerry

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List of Common queries to the Lenders