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St. Louis, Missouri (March 26, 2018)- Applying for a home loan can be an intimidating, big step for most individuals. Some people have to wait for many years before they can finally get to that point because there are many challenges. There are multiple types of loans to choose from that meet different people’s needs, leaving something out there for everyone. Two types of loans that vary from one another are the VA home loan and conventional home loans. The VA loan is directed towards active duty military, veterans, reservists, as well as some military spouses. A conventional loan is available to anyone, depending on factors such as assets and credit.
Some of the details for VA loans are they are only available for primary housing, while conventional is available for secondary homes, as well as investment properties. Some benefits of the VA loan are no down payments, no insurance required, and the loan rolls in your closing costs. Some benefits of the conventional loans are that they are flexible and available to everyone. With conventional loans, insurance is typically required, the down payments may vary, as well as any additional fees. While these two loans are very different from one another, they both have their benefits and drawbacks.
Meeting with an expert such as Liberty Lending Consultants can help you determine which loan type is right for you. They offer financing for other types of loans as well, not just these two. They offer St. Louis VA home loans, Conventional fixed-rate mortgages, FHA loans, as well as USDA or Rural Development loans.
Liberty Lending Consultants, Inc.
1950 Craig Park Ct #100, St. Louis, MO 63146