– Conventional loans are the most popular and widely used type of mortgage loan amongst all types of borrowers. Basically, the terms and conditions of a conventional loan meet the guidelines of Fannie Mae and Freddie Mac. In addition to this basic mortgage, special first time home buyers programs are available for conventional loans, such as the Good Neighbor Next Door Program for law.
The best mortgage rates for first-time buyers | This is Money – The mortgage market has reopened for first-time buyers. The Funding for Lending Scheme has helped push mortgage rates down and the government has set up a number of schemes to boost the property.
4 Easy Steps for First Time Home Buyers to be Pre-Approved for a Good Mortgage. An important aspect of buying a home is getting pre-approved for a mortgage. Many potential home buyers make the mistake of running out to look at homes before getting pre-approved for a home loan. This is understandable but is a mistake.