Conventional Loan vs. FHA Loan vs. VA Loan - Which Is Best!

This is a shorter version of Conventional vs. FHA vs. VA Loans! Confused? Is a conventional loan better than an FHA loan?  Is an FHA loan better than a VA loan? Does a VA loan beat out a conventional loan?  There are many variables explained here but by the end, the important things to consider should become apparent! Learn this and you'll be one simple mortgage step closer to being told to go "Fire Your Landlord!"

There are a number of factors to help you determine, which is best for you! Contact me through www.FireYourLandlord.info or just call me, Chris Trapani the Mortgage Pro at 310-350-2546 and I'll send you a free PDF printout to make it easier to understand!

Conventional loans usually work best for Non-veterans with very high Fico scores, FHA loans will usually work best for Non-veterans with lower Fico scores,  VA loans will work best for those with less or no money to put down regardless of Fico score unless  you are planning on keeping the property short term and are not a disabled vet.  See... it can be confusing but the Free PDF can help you sort it out! It's a great way to compare mortgages.

A common question of FHA loan vs conventional loan comes up regarding credit and down payment.  Conventional vs FHA loan - which has an advantage over the other. An FHA mortgage is better for... A conventional loan beats...  I hear this all the time and I always wind up saying - you haven't provided enough info to make a smart decision yet!

Questions like, what is your Fico, how much money are you putting down, how long do you plan on keeping the home, are just a few important factors to help you determine which loan is best for you.

Loan scenarios are as different as fingerprints.  Every personal scenario is different! That makes just stating a quick this loan or that loan is best, impossible for an experienced lender.

Conventional loans have higher interest rates than FHA loans but with high Fico scores, the mortgage insurance is lower than the Mortgage insurance for an FHA loan.
Simple mortgage steps at http://www.FireYourLandlord.info for an FHA home loan application online.  For an FHA home loan application online Chris makes it easy! Only takes 10 minutes to fill out an FHA home loan application!

I've helped thousands of people, families, vets and first-time home buyers with Conventional loans, FHA loans, and VA loans and even Jumbo and USDA loans.  Explained by a mortgage expert, these mortgage home loan options, should be properly explained in great detail.

The interest rate for a VA loan - Great
The interest rate for an FHA loan - Great
The interest rate for a Conventional loan - higher

The credit score required for a VA loan - as low as 500
The credit score required for an FHA loan - as low as 500
The credit score required for a Conventional loan - 620 minimum

The Down Payment for a VA loan - $0 ZERO!
The Down Payment for an FHA loan - 3.5%
The Down Payment for a Conventional loan - As low as 3%

The Mortgage Insurance for a VA loan -  None!
The Mortgage Insurance for an FHA loan - .85% annually
The Mortgage Insurance for a Conventional loan - from .35% up to 1.6% depending on Fico score

The Up Front Mortgage Insurance for a VA loan - None for disabled vets, otherwise 2.15% of loan amount for first time use or 3.3% for 2nd or more use
The Up Front Mortgage Insurance for an FHA loan - 1.75%
The Up Front Mortgage Insurance for a Conventional loan - None - but can be paid to eliminate monthly mortgage insurance - useful with high credit score borrowers

For more information go to www.FireYourLandlord.info and visit the TIPS Page for a more detailed free PDF download.

Chris is easy to talk to and can help you with your mortgage planning needs whether you are a first time home buyer or an experienced investor! A VA loan vs an FHA mortgage? Don't worry.  Just call Chris.

http://www.FireYourLandlord.info for a home loan application online.

All loan guidelines for mortgage loans are the same in California and nationally.
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#fireyourlandlord #conventionalvsfha #fhavsva

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Chris will teach you the simple mortgage steps to buy a home in Rancho Cucamonga, Inland Empire, San Bernardino, Riverside, LA County, and Orange County and elsewhere in California.  Know that you’re getting the best deal and not making the rookie mistakes when it comes to buying a home. Call the pro.

Chris Trapani "The Mortgage Pro"
NMLS# 240870
Cell: 310-350-2546

Commerce Home Mortgage
8311 Haven Ave, Suite 210
Rancho Cucamonga, CA 91730