Sentences with phrase «conventional home loans call»
Most conventional home loans call for a credit score of at least 620 for approval, though your interest rate, while competitive, may still be higher than someone with very good or excellent credit.
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Federal Home Loan Mortgage Corporation (FHLMC) also called «Freddie Mac» A government sponsored entity that purchases conventional mortgage from insured depository institutions and HUD - approved mortgage bankers.
These so - called «jumbo» loans, also known as conventional reverse home mortgages, are private reverse mortgages that often work much like a federally insured bank reverse mortgage.
And that mortgage financing for any type of home is called conventional financing, and is loaned to the borrower based on their creditworthiness and personal income levels.