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Which Type of Loan is Right for Me?

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Which Type of Loan is Right for Me?

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Wondering how to decide which option is right for you? Start by going through the list below and checking off which boxes sound the most fitting to your unique financial and borrowing situation.

When to Choose a Conventional vs. Non-Conventional Mortgage 

Conventional Non-Conventional
You can afford a larger down payment You require a lower down payment
You have a high credit score You have less-than-perfect credit
Your DTI is low Your DTI is high
You have sufficient cash reserves You have a history of bankruptcy

 

Benefits of Conventional Loan: 

  • No upfront mortgage insurance
  • Potential for lower mortgage insurance rates or no mortgage insurance at all
  • Stable interest rates
  • More appealing to sellers
  • Viewed as less risky for lenders
  • Shorter underwriter approval process
  • No extra fees

Benefits of Non-Conventional Loan: 

  • Require little to no down payment
  • Can still qualify with poor credit
  • Wide array of options

With the numerous different loan types that are available today, it is best to speak with an experienced mortgage broker before you start applying to ensure that you are heading the right direction. Contact us today to start a conversation about how Blue Water can assist you in finding a mortgage that best fits your needs.

 

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Welcome to US Invest Financial- your premier Doral Mortgage Broker and much more! Securing a residential or commercial loan can be intricate, but with our expert Home Loan Expert and 2517771 NMLS Licensed Brokers, your journey to property ownership or investment is streamlined and supported. Not only do we specialize in delivering the most Reliable Financial Consultant service, but we also pride ourselves as a guiding light in the Commercial Loan Assistance space, ensuring your business ventures are supported by strategic financial advice and solutions. Our team, with its astute Qualified Mortgage Advisors, is here to illuminate your path in the often complex realms of real estate with a strategic Property Investment Guide crafted to your unique circumstances and investment aspirations. Whether seeking Residential Home Loan guidance, exploring Affordable Investment Properties, or necessitating adept Local Mortgage Solutions, we are here to amplify your financial and investment potential in Doral and beyond, propelling you towards secure and prosperous property endeavors. Begin your journey with the most adept and dedicated financial team now – Connect with The US Invest Financial today!

This is not an offer for extension of credit nor a commitment to lend. Programs, rates, terms, and conditions subject to change without notice. Certain restrictions may apply. All approvals subject to underwriting guidelines. Not all applicants will quialify. As prohibited by federal law, we do not engage in business practices that discriminate based on race, color, religion, national origin, sex, marital status, or age because all or part of your income may be derived from any public assistance program or because you have, in good faith, exercised any right under the Consumer Credit Protection Act.