Sentences with phrase «by conventional lenders»

If you have a good credit score and have a sizable down payment saved up, you'll likely find better loan rates and terms offered by conventional lenders.

The underwriting requirements are considered both strong and reasonable, and, maybe most important, homes that wouldn't be eligible for loans by conventional lenders are often eligible under the federal program.

If you have a good credit score and have a sizable down payment saved up, you'll likely find better loan rates and terms offered by conventional lenders.

However, FHA loans are also a good option if your credit score is above 580 but you want to make a smaller down payment than allowed by a conventional lender.

«FHA mortgage products exist to serve an important mission: providing homeownership opportunities to creditworthy borrowers who are overlooked by conventional lenders,» says NAR President William E. Brown.

Home buyers turned away by conventional lenders — because of, say, gaps in their work history or a recent divorce — can prove to be reliable borrowers, he said.

The loan is guaranteed by the Department of Veterans Affairs but funded by a conventional lender.

However, FHA loans are also a good option if your credit score is above 580 but you want to make a smaller down payment than allowed by a conventional lender.

This goes against the core of FHA's mission, to provide fair homeownership opportunities to worthy borrowers who are overlooked by conventional lenders.