Missouri Mortgage Source Deals – FHA Loans(3.5%), Conventional Loans(20%) (Jan. 27)

  1. **FHA Loans from missourimortgagesource. Price: see site details. Discount: 3.5%. Categories: Finance, Loans, Mortgage. Deal Rating: 4.5 Stars out of 5. Store Rating: 5 Stars out of 5. Deal Recommendation: Recommended. Available Until: Ongoing Deal. Thoughts: FHA Loans were designed with the first time homebuyer in mind and are mortgage loans insured by the Federal Housing Administration. They are generally easier to qualify for than conventional financing, allowing lower credit scores and higher debt-to-income ratios. FHA home loans require as little as 3.5% down but require an upfront mortgage insurance premium that can be financed with the loan, and monthly mortgage insurance. The up-front and monthly rates vary depending on down payment amount and loan term. With the minimum down payment of 3.5%, these rates are currently at 1.75% for the front premium, and 0.85% for the monthly mortgage insurance.
  2. **Conventional Loans from missourimortgagesource. Price: see site details. Discount: 20%. Categories: Finance, Loans, Mortgage. Deal Rating: 4.5 Stars out of 5. Store Rating: 5 Stars out of 5. Deal Recommendation: Recommended. Available Until: Ongoing Deal. Thoughts: Conventional Loans are offered by private lending investors and are available in fixed and adjustable interest rates with varying terms, but in the current lending environment 15 and 30 fixed rate terms are the norms. With anything less than a 20% down payment, private mortgage insurance will be required, but USA Mortgage offers all the options available to structure this expense in the most beneficial way to you! Interest rates on conventional loans vary quite a bit depending on credit score and down payment, but conventional Mortgage loans have the potential for the most competitive rates and closing costs.

Disclosure: We have an affiliate relationship with all/nearly all merchants we feature. When you buy a deal featured by us we make a (usually small) affiliate commission from that purchase.


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