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Frequently Asked Questions
Q: What is the difference between FHA and Conventional Loans?
A: FHA stands for Federal Housing Administration. It is a government insured loan. It requires at least a 3.5% down payment that may be a gift from a family member. Conventional loans require at least a 5% down payment in most cases. Depending on credit, it may be more.
Q: What kind of documentation will in need to provide?
A: Because each loan is different, we will let you know what is needed to process your loan.
Q: Can the seller pay for my closing costs?
A: Depending on the type of loan you are getting, yes. They can pay up to 6% in most cases.
Didn't find your question, call us today and we will be happy to answer it for you.
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The information contained in this site is valid for business only in Utah, Arizona, New Mexico, Missouri.
