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First Mortgage Direct. 620 for conventional loans, 580 for FHA and VA loans ... products that tout “guaranteed approval” without a credit check, or other offers with too-good-to-be-true claims ...
The funds for guaranteed mortgages come from private-sector lenders, but the loan is backed by a guarantor, typically a government agency, that will pay out money to the lender if the borrower ...
In addition to its standard loan options, Guaranteed Rate also offers HELOCs, renovation loans, interest-only loans and other specialty loan programs. Pros: Advanced online tools and application ...
FHA also was tasked with chartering and regulating a national mortgage association that would buy and sell FHA-insured mortgages. In 1938, Congress amended the act to create the Federal National Mortgage Association, more commonly known as "Fannie Mae", to help mortgage lenders gain further access to capital for mortgage loans.
When you want a lender with a wide variety of loan types, programs meant to help you afford the purchase, and the potential for approval even if your credit score isn't quite at the preferred 620 ...
The Native American Direct Loan (NADL), guaranteed by the VA, and Section 184 loan, guaranteed by HUD, provide financing to eligible Native American homebuyers. A Section 184 loan requires just 2. ...
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