Pamela Madore Mortgage
Not Everyone Fits In The Traditional Mortgage Mold--Unusual Financing Available
Unusual does not mean Guido. All is means is that lenders are now offering programs that make sense even though they don't fit traditional financing.
Let me explain that just a bit.
FHA, VA and Conventional loans all have something to do the with government. FHA loans are government insured against non-payment. VA loans are guaranteed by the government for non-payment. Conventional loans are "packaged" which means that similar loans are put together in big packages and sold in what is called the secondary market to create things like Treasury Bills. Therefore they have to meet certain strict guidelines. That is really too complicated sometimes to even think about. So I don't. These are not for everyone.
These are called Agency Loans.
Now there are a whole set of other loans programs that are not "Agenc…