Reverse Mortgages
- September 18, 2014
- Mortgage Loan
- 0 Comments
A Reverse Mortgage is a loan that allows seniors 62 or older use the equity they’ve accumulated in their homes to borrow money. As long as the Reverse Mortgage is outstanding, no monthly payments are required. There are no income qualifications because the size of the loan depends on the applicant’s age, home value and
NIFA Loan
- September 18, 2014
- Mortgage Loan
- 0 Comments
The Nebraska Investment Finance Authority (NIFA) loan program is designed for first-time home buyers that offers smaller or no down payment options. Qualifying NIFA loans must be insured by FHA, VA, USDA or Conventional Private Mortgage Insurance. Rates are typically lower than non-NIFA loans. Funds are not available for refinancing. More information can be found
FHA Loan
- September 18, 2014
- Mortgage Loan
- 0 Comments
An FHA (Federal Housing Administration) mortgage is a government-backed loan with more flexible lending requirements than those for Conventional loans. These loans will have higher mortgage insurance premiums and will require it to remain on the loan for longer periods of time, in some cases the life of the loan. FHA loans may be preferred
Conventional Loans
- September 18, 2014
- Mortgage Loan
- 0 Comments
Conventional loans are the most common for home buyers and borrowers. There are a wide variety of options available including both Fixed rate and Adjustable (ARM’s) with down payments as low as 3%. Fixed rate mortgages come with an interest rate that won’t change for the life of the loan and can be amortized over