Residential Mortgage Information

Residential mortgages can be grouped into two broad categories: conforming and nonconforming. Those who qualify under conforming guidelines generally can receive better financing terms with regard to interest rate and loan to value.

Conforming loans include those that are secured with government sponsored enterprises - FannieMae or FreddieMac - or with government agencies - FHA,   VA, or   Rural Development.

Non conforming loans are loans that do not conform to guidelines established by the above agencies. Terms that are offered are generally less attractive, although some non conforming loans can offer lower interest rates or other mortgage terms that are not allowed under conforming programs.

Most often, non conforming loans, as compared with conforming loans, offer higher loan to value, less income or asset documentation, weaker credit, unique properties, special payment options, higher loan amounts, or some combination of these features.

If you have any questions about residential mortgage programs, please review the other articles in this section, or you may call, email, or initate a chat room discussion.  Additionally, you may complete the Mortgage Question form at the bottom of this page.

Other articles in this section are Government Loan Programs, Second Mortgages, VA Loans, Bridge Loans, Reverse Mortgages, Home Equity Lines of Credit, and High LTV Home Loans.

Other articles as well as revisions to these pages are coming soon.