Mortgage loan brokers provide various services, including mortgage rate comparison, loan pre-approval, assistance with loan applications, negotiation with lenders, and guidance throughout the mortgage process.
Various types of home loans are available, including conventional loans, FHA loans, VA loans, USDA loans, jumbo loans, fixed-rate mortgages, and adjustable-rate mortgages.
FHA loans, insured by the Federal Housing Administration, offer several advantages, including low down payment requirements (as low as 3.5 percent), lenient credit score requirements, competitive interest rates, and options for borrowers with limited income or credit history.
When selecting a fixed-rate mortgage, consider the loan term, interest rate, monthly payment affordability, closing costs, and your long-term financial goals.