Conventional VS Non-Conventional Loans (What Are The Different Type Of Loans?)

Conventional VS Non-Conventional Loans (What Are the Different Type of Loans?)

When talking about loans, you need to know about the two basic classifications of home loans: conventional and non-conventional. Simply put, a conventional loan is not backed by the government while non-conventional loan is backed by the government. Examples of non-conventional loans include the FHA, VA, USDA and HUD Section 184 programs. Almost all other loans are conventional.

Conventional loans will often require you to have higher credit score, lower debt-to-income ratio and larger cash down payment. As a real estate investor, you might want to consider non-conventional since it has significantly faster closing time and it’s also ideal for individuals with a lower income or less than perfect credit. The only real downside to using non-conventional is you’ll have lower loan limit.

#ConventionalLoan #Non-ConventionalLoan #TypeOfLoans

🔴 Subscribe to my channel: https://www.youtube.com/c/TheSicilian...

✅ Let's connect:
Our Instagram -   / talkingrei  
Nick's Instagram -   / nicksic  
Tony's Instagram -   / tjsicilian  
Facebook Page -   / talkingrei  

✅ Recommended videos:
▶Latest Uploads -    • What Is CMA?  
▶Most Popular -    • Make More Money On Your Flip By STAGI...  
▶Real Estate Investing -    • Can You Find A Good Home To Buy/ Inve...  

TONY AND NICK SICILIAN
Hey guys! We're two brothers chatting about all things real estate whether that's hard money lending, house flipping, or investing.