Today's home buyers need help to discover their optimal mortgage program. Choose from between FHA, Conventional, VA, USDA, Jumbo, and more.
Cincinnati, OH (PRWEB) April 30, 2013
The Mortgage Reports (themortgagereports.com), a leading consumer website for mortgage-related news, has launched its latest infographic: Finding Your Right Mortgage Product.
With the housing market recovering and the return of mortgage lending, it's important for today's home buyers to understand mortgage financing options, and to choose the best mortgage program to suit their individual needs.
This is why The Mortgage Reports created its latest infographic -- an easy-to-follow flowchart highlights the optimal mortgage type for any home buyer, in any U.S. market.
The infographic is free to share and to use, with attribution to The Mortgage Reports.
The infographic uses three specific loan traits as a starting point -- (1) Downpayment Amount, (2) Loan Size and (3) Credit Score -- then follows-up with specific questions to uncover a buyer's optimal mortgage program.
In addition to identifying conventional loan opportunities via Fannie Mae and Freddie Mac, the flowchart identifies loan possibilities via the Federal Housing Administration (FHA) and via jumbo mortgage lenders.
The infographic also checks for buyer eligibility for "special" loan programs including :
- Department of Veterans Affairs (VA) loans, which allow for up to 100% financing with no mortgage insurance
- USDA Rural Housing loans, which allows for up to 100% financing in many parts of the United States
- The Fannie Mae 97% Conventional loan, which allows for a 3% downpayment comprised entirely as a gift
To view the complete graphic via The Mortgage Reports website, go to http://themortgagereports.com/12843/mortgage-choices-what-type-of-mortgage-should-you-get.
About The Mortgage Reports
The Mortgage Reports (http://themortgagereports.com/) is a top-rated provider of mortgage news to U.S. consumers. The Mortgage Reports was launched in 2004 and publishes daily. It's read by home buyers, real estate agents, title company representatives, and mortgage industry insiders. Based in Cincinnati, Ohio, The Mortgage Reports is helmed by Dan Green (NMLS #227607), an active Waterstone Mortgage loan officer. Dan has been cited by the Wall Street Journal, Forbes, Fox Business, CNBC and Business Week, among others.